In the office rest area, Lu Ming was making tea quite comfortably while listening to Zheng Hongrui's work report.
"Although pre-sales can quickly collect more than 60 billion in funds, we will invest again soon. The problem is that we are selling at a loss. The greater the sales volume, the greater the funding gap will be in the future." Zheng Hongrui explained methodically.
, and then added: "Furthermore, policy subsidies will be phased out starting this year, which will bring considerable financial pressure."
It is worth mentioning that since the beginning of the new year, practitioners in the industry have called this year a "new energy winter". Generally speaking, they are pessimistic about the market for new energy vehicles this year, and some even
Institutions now boldly predict that the sales of new energy vehicles this year may decline compared with last year.
One of the big reasons is that policy factors cannot be ignored. Just last month, relevant departments of finance, taxation, industry, and science stated that they would cancel financial subsidies for new energy vehicles in 2020.
Zheng Hongrui continued: "If the subsidy policy is adjusted significantly and quickly, it will have varying degrees of impact on the operations and planning of enterprises in the industry, which will increase operating pressure. The direct impact will be on pricing and sales, and the indirect impact will be on pricing and sales.
The impact is a matter of whether the company's development strategy needs to be quickly adapted and adjusted."
In contrast, if subsidies are canceled in advance, new car-making forces that have just launched their products and have not yet formed a sufficient scale will feel greater pressure. Tianchi Technology now mainly relies on Tiansheng Capital's comprehensive funding to cover the bottom line, and it also has
It's not a big problem, but it may not be the case for other new car-making forces.
During this period, the National Energy Administration has established a "reduction, adjustment, and rollout" mechanism. The state will gradually roll out policy subsidies from this year until all are withdrawn next year. On the other hand, the state has also recently strengthened its review of the qualifications of new energy vehicle companies.
, the fact that thirty car companies have had their qualifications revoked before is the best proof.
The de-escalation mechanism can be said to be an international practice. While providing subsidies, the subsidies are gradually reduced in a planned and clear-cut manner according to the development of the industry. Compared with the early saying of "helping the horse and giving it a ride", there is
There are clear time nodes and quota limits.
It is foreseeable that after subsidies are reduced or even cancelled, some car companies will inevitably withdraw from the competition stage. Many institutional analysts believe that new energy car companies will usher in the peak of pancake restructuring in the next few years.
As policies become increasingly tightened, industry reshuffles intensify, and competition becomes increasingly fierce, which is an inevitable trend in the future.
Obviously, various national departments have introduced a series of new measures to constrain the new energy industry. On the one hand, they are to strengthen market guidance and eliminate more backward companies. On the other hand, they are forcing companies to improve their hard power, encourage companies to continue to innovate, and promote
In the development of the new energy industry, the introduction of the "catfish" Tesla is to a certain extent because we can no longer stand the phenomenon of those in China who are comfortable and subsidized.
With the introduction of this series of new measures, a large group of new energy vehicle companies said they couldn't stand it, and started shouting that the industry was about to suffer a cold winter.
As a result, just this month, Tianchi Technology made a breakthrough. The 24-hour booking volume of Flashchi exceeded 310,000 units. Do you call this a cold winter? For some so-called new car-making forces who are just filling up the numbers and cheating, it is indeed
It's winter!
Under the new situation, only by grasping the changes in the market and continuously improving can we have a place for development after the introduction of subsidies, otherwise we will only face the fate of being eliminated.
This outstanding report card of Tianchi Technology is undoubtedly great news for the National Energy Administration. For the new energy industry, the subsidy support from the national finance is not a talisman for companies to fill up the numbers and engage in fraud.
In the past, there was a certain concern that cutting off subsidies would make the development of the domestic new energy industry fall behind. After all, this is a major national strategy, which gave some car companies a chance to cheat and subsidy.
Nowadays, Tianchi technology has become a blockbuster, as if it has stood out in the entire industry overnight.
At this time, Lu Ming said in a deep voice: "No matter what, the state's policy subsidies for Tianchi technology will not be easily reduced. The news from the four departments last month was from the so-called new car-making forces who were padding the numbers and cheating on subsidies."
In the cold winter, on the contrary, Tianchi Technology is the key support target."
Having said this, Lu Ming leaned back on the sofa and smiled lightly: "Even if the subsidy is no longer provided, it is not a fatal problem. In short, the sky will not fall."
The most indispensable thing for Tiansheng Capital is money. Its scythes are greedily harvesting overseas markets. Take the US stock market as an example. In the middle and late December of last year, the company's diversified funds plummeted. Now it is making a lot of money.
In Big A, you have to gradually play the role of market ballast. After the funds enter the market, they generally do not change easily. But overseas, it is a different matter. It is not your own business to make money as fast as you can by diving and harvesting.
.
Hearing this, Zheng Hongrui immediately laughed and said, "With Mr. Lu's words, I will really speak like a lion!"
Lu Ming changed his posture and crossed his legs again and said: "Let's go!"
Zheng Hongrui immediately said in an orderly manner: "I held a senior management meeting at Tianchi in the morning. We agreed that we will expand the production capacity of Flash models to one million units this year. The actual production cost of each vehicle is 476,000 yuan. By next year
It may initially be reduced to 450,000 yuan. Excluding comprehensive subsidies, the loss will be approximately 193,200 yuan for every car sold, which is basically a loss of one car sold."
Zheng Hongrui, who paused for a moment, further said: "Roughly estimated, the capital required to produce 700,000 vehicles in the next three quarters will require an investment of about 330 billion. If we really sell one million vehicles this year, we will
The loss is close to 200 billion yuan, and the loss from increasing production in the next three quarters is more than 130 billion yuan. According to comprehensive estimates, a funding gap of 72 billion yuan is needed to ensure the safety of funds."
Judging from Zheng Hongrui's description, Tianchi Technology's debt ratio will definitely explode in the next few years, which is equivalent to the other extreme of Tiansheng Capital, which has almost no debt.
In comparison, the comparison between Jabs' hole and Tianchi's technology here is simply a fraction.
However, Lu Ming doesn't care about Tianchi Technology's debt problem at all, at least it's not the primary issue. It doesn't matter if the debt is large, the key lies in how much market share it can gain. You must know that last year, the domestic automobile manufacturing industry's annual operating income exceeded 8 trillion yuan
RMB, it is inevitable that traditional fuel vehicles will be eliminated, and carbon neutrality is already on the way.
The real core value of new energy vehicles has never been the actual vehicle itself, but the data.
The high value of data requires huge scale support to form a super data platform. In Lu Ming's eyes, Tianchi Technology is not a traditional automobile manufacturing company at all, but an Internet technology company. The valuation logic and financing support are also based on this.
Come.
At the end, Lu Mingyan replied briefly and concisely: "72 billion, right? No problem!"
Zheng Hongrui couldn't help but nodded. He was not surprised at all to get the money. He had to say that it was comfortable to have such a financial backer. No matter how cold the new energy industry was, Tianchi Technology was still in full swing.
It is worth mentioning that Tiansheng Capital has provided Tianchi Technology with huge financial support over the years. Every payment is borrowed from the parent company, rather than increasing capital and expanding shares.
And you have to pay interest, but the interest is much lower than the bank loan interest rate, so you have to pay some amount.
In comparison, the 20 billion raised by listing on the Science and Technology Innovation Board is really not enough to fill the gap.
