Junyao group, the parent company of Junxiang airlines, has taken over the cross-border manufacturing of Yundu automobile. What is the winning probability
2022-08-25
A few days ago, it was reported that Shanghai Junyao (Group) Co., Ltd. (hereinafter referred to as "Junyao group"), the parent company of Juneyao airlines, would join the company to build cars, create a new energy automobile company facing the future through the establishment of a new energy automobile industry fund, and name the automobile brand "Juneyao automobile". On August 23, a reporter from Securities Daily asked for confirmation from Juneyao airlines. The company replied: "we have paid attention to the relevant information, but the major shareholder (of Yundu automobile) is not us. We do not know the relevant details and have no information to respond to." According to tianyancha app, Zhuhai Yucheng Investment Center (limited partnership), with Junyao group as the main shareholder, has taken over Yundu automobile, with a shareholding ratio of 85.31%. Putian state investment group ranked second, with a shareholding ratio of 8.69%. Junyao group, founded in 1991, is an industrial investment service company. The business scope includes five business segments: air transportation, financial services, modern consumption, education services and scientific and technological innovation. It has four A-share listed companies. According to the reporter, in 2015, Junyao group established Shanghai Junyao Automobile Trade Co., Ltd., which is an Internet company focusing on high-end automobile import and export business. As the carrier for Junyao group to enter the new energy vehicle sector, Yundu automobile was established in 2015. It is a mixed ownership new energy vehicle production enterprise jointly invested by Fujian Automobile Industry Group Co., Ltd., Putian state owned Assets Investment Co., Ltd., management team and Fujian Haiyuan Automation Machinery Co., Ltd. with a total investment of 900 million yuan. At the beginning of its establishment, the investment of all parties accounted for 39%, 34.44%, 15.56% and 11% respectively. From 2017 to 2018, the development of Yundu automobile was comprehensively accelerated. In February 2017, Yundu new energy vehicle brand was released; In April, Yundu π 1 and Yundu π 2 appeared at Shanghai auto show; In October, the first model Yundu π 1 was launched; In March 2018, Yundu π 3 was listed. In 2018, Yundu automobile sold 9300 vehicles in total, achieving a delivery rate of 100%, ranking second only to Weilai automobile in the new force of automobile manufacturing. However, behind the seemingly prosperous sales volume, Yundu automobile has been operating at a loss. According to the announcement issued by Jiangxi Haiyuan composite material technology Co., Ltd. (hereinafter referred to as Haiyuan composite material), one of the shareholders of Yundu automobile, the net profit of each year in the consolidated statements of Yundu automobile and its subsidiaries is negative, and the loss situation is increasingly serious. According to the data, from 2017 to 2021, the net loss of Yundu automobile was 95 million yuan, 138 million yuan, 177 million yuan, 204 million yuan and 213 million yuan respectively. According to the latest financial report, the revenue of Yundu automobile in the first quarter of this year was 6.625 million yuan, and the net loss was 56 million yuan. As of March 31, 2022, the total assets of Yundu automobile were 1.652 billion yuan, the total liabilities were 1.682 billion yuan, and the net assets were -30.7964 million yuan. The large loss caused its sales to drop to the freezing point. As of August 2022, the sales volume of Yundu π 3 at the new moon is only 31, and the cumulative sales volume in 2022 is 186
Edit：Wei Li Bin Responsible editor：Yin Bing
Source：Securities daily
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