JAC (600418) transferred the boots of the NIO foundry, and NIO, which had just been exposed to the qualification of making cars yesterday, officially took over the relevant production lines, taking one step closer to independent car manufacturing. Read more"NIO Big News!".The Ministry of Industry and Information Technology has approved, or will build cars independently in the future".
Source: Picture Worm Creative).
More than 3 billion yuan to take over part of the assets of the foundry
On the evening of December 5, JAC Motors announced that the three asset packages related to the three factories of the passenger car company and the Xinqiao plant of the passenger car company that were publicly listed have completed the bidding, and according to the bidding results, NIO has become the transferee of one package of assets and three packages of assets, and the transaction ** is 166.6 billion yuan, 149.2 billion yuan, a cumulative of 315.8 billion yuan;The second package of assets was Hefei Hengchuang Intelligent Technology, a subsidiary of the State-owned Assets Supervision and Administration Commission of Hefei Economic Development Zone, hereinafter referred to as "Hefei Hengchuang") with 141.8 billion yuan bid.
It is worth mentioning that JAC's first passenger car company No. 3 plant and passenger car company Xinqiao plant are known as NIO F1 factory and NIO F2 factory within the company, which were previously used for NIO OEM, and the production line was customized by NIO. In October this year, when JAC Motors first announced that it would list and transfer the aforementioned assets, there were rumors in the market that NIO would take over, but the two companies did not make a clear statement at that time. Judging from the bidding situation, the results were basically expected by the market.
According to the announcement, the first factory is divided into three asset packages, one of which is the inventory, fixed assets and construction projects of the three factories of the passenger car companyThe second package is the housing buildings, projects under construction and land use rights of the three factories of the passenger car companyThe three guarantees are the structures and equipment of the passenger car company's Xinqiao plant. The first and third packs won by NIO were evaluated using the cost method, and the appraised values were 163.8 billion yuan, 146.8 billion yuan, the value-added rate is respectively. 05%, and the final transaction price was 166.6 billion yuan, 149.2 billion yuan, slightly higher than the appraised price. According to the agreement, the transaction will take a one-time payment method, which will be paid within 5 working days from the date of entry into force of the transaction contract. After the completion of the asset delivery, in addition to the ownership of the F1 plant, land use rights and part of the construction in progress, NIO will own the equipment and production lines of the two plants. As of the end of the third quarter, NIO's cash reserves reached 45.2 billion yuan, an increase of 13.7 billion yuan from the previous quarter, and it has sufficient strength to pay the price of the above-mentioned assets. In terms of operating data, NIO's revenue and deliveries in the third quarter reached a record high, of which revenue reached 190700 million yuan, an increase of 117 percent month-on-month4%, a year-on-year increase of 466%；Deliveries 5540,000 units, an increase of 135 month-on-month7%, a year-on-year increase of 754%；The gross profit margin of the whole vehicle returned to double digits to 11%, and the net loss narrowed, an increase of 10% over the same period last year8%。
NIO independently builds cars, and JAC embraces Huawei
Since 2016, JAC and NIO have been working closely together, and their lean manufacturing capabilities and continuous iteration of product research and development have made NIO stand out from the crowd of new EV manufacturers, and JAC's EV manufacturing capabilities have continued to improve.
According to the data, from January to November 2023, NIO has delivered a total of 14 new vehicles20,000 units, a year-on-year increase of 331%；As of the end of November 2023, a total of 43 new vehicles have been delivered160,000 units. Behind the continuous growth of sales, JAC Motors, as a foundry, also got a piece of the pie. According to NIO's financial report, from 2018 to 2022, it will pay about 2 OEM fees to JAC Motors2.3 billion yuan, 44.1 billion yuan, 53.2 billion yuan, 7$1.5 billion and $112.7 billion yuan. So, why did NIO, which has been operating in an asset-light model, choose to take over the foundry?And how will JAC create a new profit growth pole after the first foundry?
Qin Lihong, co-founder and president of NIO, once said that the asset transfer of JAC will not have any impact on the normal market operation of JAC and NIO, but more information is inconvenient to disclose for the time being.
Recently, NIO and JAC have frequently reported new developments in car manufacturing, which may explain the logic behind this asset transfer.
On December 4, NIO Automotive Technology (Anhui)** appeared in the credit information management system of vehicle manufacturers of the Ministry of Industry and Information Technology, which may indicate that NIO has obtained the qualification to make cars independently. According to the announcement information, the legal representative of the above-mentioned company is Qin Lihong, the registered address is Building F, Hengchuang Intelligent Science and Technology Park, No. 3963, Susong Road, Economic and Technological Development Zone, Hefei City, Anhui Province, and the production address is No. 299, Baita Road, Economic and Technological Development Zone, Hefei City, Anhui Province, which is where the F2 factory of Weilai is located.
On the other hand, JAC has also found a new strategic partner. On December 1, JAC announced that it has reached a cooperation agreement with Huawei on intelligent new energy vehicles, under which the two parties will cooperate in product development, manufacturing, sales, and service based on Huawei's intelligent vehicle solutions, and strive to build luxury intelligent connected electric vehicles. According to the agreement, JAC is responsible for the product development of cooperative models, and builds a production base to achieve efficient delivery of cooperative modelsHuawei devices or their designated third parties exclusively provide sales services for cooperative models worldwide, including but not limited to marketing, sales, users, and ecosystem operations, and the aforementioned agreement is valid for 10 years.
Previously, it was reported that the first model of the cooperation between JAC and Huawei will be positioned as a high-end new energy MPV model, and the price may be in the millions. However, the two companies have not yet responded to the information on the relevant cooperation models.
In terms of production base, at the beginning of this year, China State Construction Group released on its official website that "the consortium of China Construction Sixth Bureau won the bid for the EPC project of Anhui Feixi New Energy Vehicle Intelligent Industrial Park", which spoiled the cooperation between Huawei and JAC in car manufacturing. According to the announcement, the project is a key project in Hefei, and will be used by Huawei and JAC to jointly develop a new generation of high-end intelligent electric vehicles in Hefei. However, at present, the news is no longer searchable on the official website of China Construction.
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