2020-08-23

News| Countdown to IPO, Xiaopeng Motors intends to raise up to US$1.271 billion

By yqqlm yqqlm

getInterUrl?uicrIvZQ=d7a5be04b90dba68567c9fb674a43ddc - News| Countdown to IPO, Xiaopeng Motors intends to raise up to US$1.271 billion

Text:Understand the original car Xing Qiuhong

Understand the car di’s original industry recently, Xpeng Motors updated F-1 prospectus, the company plans to issue 85 million ADS (representing 170 million shares of Class A common stock), and also grants the underwriters 12.75 million ADS over-allotment rights, the price range is 11-13 US dollars/ADS, the proposed financing amount (Including over-allotment rights) between 1.075 billion and 1.271 billion US dollars.

Together with the issuance of over-allotment rights, based on the median value of the issuance range of US$12, Xiaopeng Motors is valued at approximately US$8.613 billion, and the valuation after listing can reach US$9.331 billion, which is higher than ideal cars. The initial 8 billion dollars. According to the prospectus, existing shareholders-Alibaba, well-known hedge fund Coatue, Qatar Investment Authority and Xiaomi will subscribe separately Newly issued ADSs up to 200 million USD, 100 million USD, 50 million USD and 50 million USD.

getInterUrl?uicrIvZQ=0529e3d4a44336beff5fd6751c2d4266 - News| Countdown to IPO, Xiaopeng Motors intends to raise up to US$1.271 billion

It is reported that the fastest will be August 27 , NIO, Ideal, and Xiaopeng, three new power auto companies from China, will complete their”meeting” in the US stock market. At the same time, these three companies are inevitably compared, mainly to rely on the experience of predecessors to analyze the trend of Xiaopeng Motors after its listing. But in the two most important indicators of the capital market, sales volume and profit, Xiaopeng Motors has not yet formed an advantage.

In terms of delivery volume, Xiaopeng Motors is not as good as NIO and ideal. Taking the delivery results in the first half of this year as an example, the deliveries of NIO, Ideal and Xiaopeng were 14,169, 9,500, and 5174, respectively. Vehicles. In terms of gross profit margin, Ideal and NIO have both achieved a positive change from negative, but Xiaopeng’s gross profit margin in the first half of this year was- 3.6%, a year-on-year decrease of 92.3%, although the scale of losses is shrinking, gross profit has not yet turned positive.

getInterUrl?uicrIvZQ=2406aa9e62d5d6c897a6e8225743bc9b - News| Countdown to IPO, Xiaopeng Motors intends to raise up to US$1.271 billion

The capital market is optimistic about Xiaopeng Motors such as Tesla uses software to define the car model. Including the new generation of assisted driving system XPILOT, in-vehicle intelligent operating system Xmart OS, vehicle OTA capabilities, brand-new electronic and electrical architecture, etc., are all of Xiaopeng’s core advantages. The prospectus also emphasizes that the funds raised by the IPO will be used for the development of smart car technology and the expansion of sales.

Accelerating the pace of listing is also to solve the financial pressure of R&D and sales in the future, but for any new power company, after listing, the company’s sales volume, financial situation, profitability and business development trajectory will be clear Shown out, it will also become the most important judgement yardstick for capital market voting. How to make these indicators beautiful is a problem that Xiaopeng Motors will face in the future.