Hengda Automobile lost 84 billion yuan in two years, and its total debt exceeded 180 billion yuan
From April 1, 2022For 16 months,Initial financial disclosure.
On the evening of July 26, the full year of 2021, mid-2022 and full year of 2022 were reissued at one timeReport. Data show that the loss in 2021 is about 56.344 billion yuan, the loss in 2022 is 27.664 billion yuan, and the total loss in two years is as high as 84 billion yuan.
Hengda automotive insolvent
In 2022, Hengda Automobile’s revenue was about 134 million yuan, an increase of 78.71% year-on-year; cumulative losses andThe losses were 98.906 billion yuan and 68.651 billion yuan respectively. Evergrande’s cash and cash equivalents at December 31, 2022 were 220 million yuan.
In terms of debt, as of the end of 2022, Hengda Automobile’s total debt was 183.872 billion yuan, and the debt scale after excluding the advance receipt of 3.314 billion yuan was 180.558 billion yuan. In addition, Hengda Automobile involved about 11.626 billion yuan of unliquidated maturing debts, and the group’s overdue commercial tickets accumulated about 18.512 billion yuan. The total assets of Hengda Automobile are 115.22 billion yuan, which is already insolvent.
Specifically, in 2022, Hengda Automobile (includingThe turnover of the Automotive Division) was 134 million yuan, an increase of 78.71% year-on-year. The increase in revenue was mainly due to the Group’s commencement of sales of Hengchi 5 models. In July 2022, Hengda Automobile started pre-ordering models, and more than 320 vehicles had been delivered as of the end of the reporting period.
Therefore, cars andSales increased from 1.75 million yuan in 2021 to 60.63 million yuan in 2022, including 60.34 million yuan for automobile sales and 290,000 yuan for parts sales. On the other hand, the income generated by providing technical services in 2022 was 40.92 million yuan, of which the income from NEVS providing technical services was 36.75 million yuan, and the income from Japan Research Institute providing technical services was 2.65 million yuan.
In addition, Hengda Automobile’s gross profit loss decreased from 170 million yuan in 2021 to 93.86 million yuan in the reporting period, and the gross profit loss also decreased from 227.83% in 2021 to 70.04% in 2022, mainly due to the start of delivery of Hengchi 5 and the beginning of generating revenue for this division. In addition to selling cars, Hengda Automobile also conducted the sale of some residential properties, which will be gradually discontinued.
It is worth mentioning that in Evergrande’s 2022 annual report, the company’s auditors shouldIt issued an audit report saying it "does not express an opinion". The reason is that "significant uncertainties related to Evergrande’s continued operation and insufficient appropriate audit credentials for opening balances and comparative information."
According to the report released on May 12 this yearHengda Automobile has completed the divestiture of its real estate business and concentrated resources to ensure the development and production of Hengchi series models. Subsequently, on June 20, Hengda Automobile announced that Hengchi 5 had resumed production in May and had delivered more than 1,000 vehicles by the end of May.
"Daily reporter checked the official account of Hengchi found that on July 23 this year, Hengchi Automobile revealed the development progress of Hengchi 6 and 7 models. It is reported that Hengchi 6 is positioned as "a cross-border pure electric A + class SUV of trend, sports and technology", and Hengchi 7 is "luxury and comfortable""B-Class", both new models have completed the design freeze.
Hengda Automobile says it will continue to ensure the production and delivery of Hengchi 5
In fact, even though the situation is not optimistic, Evergrande still seems to have not given up.
In this regard, the relevant person in charge of Hengda Automobile said in an interview with the "Daily" reporter that the group will also ensure the continuous and stable production and delivery of Hengchi 5; in the field of marketing, the group will continue to promote the display experience center, sales center and after-sales services center layout, decoration and opening, and further expand sales channels.
according toBudget, if Hengda Automobile can seek more than 29 billion yuan in financing, these funds will help Hengda Automobile launch a number of flagship models and eventually achieve mass production. It is worth mentioning that on the night of July 26, when Hengda Automobile disclosed its financial report, it also announced its foreign debtThe latest news.
According to the announcement, the agreement arrangement meeting is expected to be held on the following dates: Evergrande Agreement is scheduled for August 23, 2023; Space-based Agreement is scheduled for August 22, 2023; Scenic Agreement is scheduled for August 22, 2023.
Previously, three financial reports including 2021, 2022 performance announcements and 2022 interim results announcements have been issued in succession. The financial report shows that China Evergrande has lost more than 812 billion yuan in two years and its total liabilities exceed 2.40 trillion yuan.
"Evergrande Automobile and China Evergrande have released consecutive financial reports, just toPrepared. In every announcement, Hengda tried its best to send a signal to the outside world to save the crisis, but due to the credit crisis of Hengda itself, it is basically difficult to find external blood transfusion channels. "Zhang Xiuyang, secretary general of the China Passenger Car Industry Alliance, told reporters that according to regulations, if the trading is suspended for 18 consecutive months, the Hong Kong Stock Exchange can delist it, which means that Hengda has only two months left to resume trading.