·The top ten investment and financing events of China's auto industry in 2017

With the advent of the current new round of technological revolution, the automobile industry has entered a period of subversive transformation and upgrading, and the resulting changes have had a profound impact on the investment and financing of the entire automotive industry. According to Jiazhidao Automobile Statistics, in the past 2017, China's auto industry investment and financing market continued to grow, and the investment event increased from 245 in 2016 to 276, an increase of 12.7%. The total investment has soared from 270 billion yuan in 2016 to 758 billion yuan, an increase of 114%.

It is worth noting that the number of investment institutions in 2017 has also climbed to 388, a year-on-year increase of 74.8% compared with 222 in 2016. From the perspective of the proportion of the total investment amount, it is significantly different from previous years. In 2017, the investment amount exceeding 50% is the new format, new model and new energy. The proportion of the traditional automobile industry, which accounted for a large proportion in previous years, has further reduced to less than 50%. In 2017, listed companies became the main force in the investment and financing of the automobile industry. These listed companies include not only the auto sector, but also non-automobile sectors such as China Merchants Bank and CITIC Securities.

Recently, the top ten investment and financing events of China's auto industry in 2017 were released at the China Automotive Industry Trends and Investment Summit Forum. The specific list is as follows:

1. Ningde era and SAIC established two joint ventures with a valuation of over 130 billion yuan

On June 19, 2017, SAIC and Ningde Times held a groundbreaking ceremony for the industrialization cooperation project in Fuyang, Changzhou, Jiangsu Province. The project plans to build a total power battery capacity of 36 GWh. The first phase of the project has a total investment of 10 billion yuan. It is planned to be fully put into operation at the end of 2018, and the capacity of 18G watt-hours will be formed first. The two joint ventures established by SAIC and Ningde Times are Time Shangqi Power Battery Co., Ltd. and SAIC Times Power Battery System Co., Ltd.

Times SAIC has a registered capital of 2 billion yuan, mainly engaged in the development, production, sales and after-sales service of lithium-ion batteries and lithium polymer batteries. The registered capital of SAIC is 300 million yuan, mainly engaged in the development, production and sales of power battery systems.

According to the agreement between the two parties, the joint venture company will become the supplier of all new energy auto companies in SAIC. This means that, including SAIC's own brands and SAIC joint ventures, it will purchase power batteries from the joint ventures of the Shanghai and Ningde eras.

Ningde era has surpassed BYD and become the second-largest power battery manufacturer in the world. The company will be listed soon and the market advantage will be further expanded in 2018.

2. Many used car leading companies such as melon seeds used cars have obtained a lot of huge financing

2017 is the financing year for used car e-commerce. In the first half of the year, Youxin, Car 300, Chezhibao, Dashu, Yixin, and Melon were all financing. In September, 200 million US dollars of investment in Renren became the latter's strategic partner. At the end of October, every day, the car was taken, the car was used, and the big car was financed. The second-hand car e-commerce company had a financing amount of more than 20 billion yuan in 2017. BAT, Didi and other giant figures appeared frequently. More than 10 billion funds have been invested in advertising wars, offline layouts, and business development.

In 2017, more than 80% of the investment in the used car market flowed to several head enterprises such as melon seeds. This indicates that the used car industry has entered a high-speed growth period, the industry layout is nearing completion, and early entrepreneurial opportunities have converged.

3. Weilai continued to complete huge financing (US$1.6 billion), and the new car ES8 began mass production this year.

Among the new forces, Li Bin has the largest amount of financing, more than 1.7 billion US dollars, and there are 56 investors behind it, including: Li Bin, Chairman and CEO of Easy Car, and Li Xiang, founder of Auto House, Jingdong Chairman Liu Qiangdong, Tencent, Gaochun Capital and Shunwei Capital. Since its establishment, Weilai has successively obtained investment from dozens of well-known institutions such as Temasek, Baidu Capital, Sequoia, Hopu, Lenovo Group, Huaping, TPG, GIC, IDG, and Joy Capital. The company's valuation has exceeded US$20 billion so far.

Weilai is one of the largest venture capitalists in terms of the amount of venture capital, and is another typical case for the future of the capital gambling industry. Weilai will continue to expand financing to support its mass production and infrastructure work.

4. Hydrogen fuel cell into a new hot spot for power battery: Furui Hydrogen Energy Project has landed in Zhangjiagang Free Trade Zone with a total investment of over 300 million; SAIC Group became the first vehicle manufacturer to deploy the entire industrial chain of hydrogen fuel vehicles.

The Furui Hydrogen Energy Project is located in the Zhangjiagang Free Trade Zone. The project covers an area of ​​58 mu and the total construction area is 28,000 square meters, including production plants, office buildings and door guards. After the completion of the project, it will annually produce 50,000 high-pressure hydrogen storage bottles with a capacity of 20,000 sets/year of hydrogen energy vehicle hydrogen supply system.

After the first commercial operation of the hydrogen fuel cell vehicle in Foshan, Shanghai Automotive Group Co., Ltd. also cooperated with Shanghai Chemical Industry Park recently and signed the strategic cooperation between Shanghai Chemical Industry Park and SAIC Group in Shanghai Chemical Industry Zone Management Committee. Framework Agreement". The signing parties will make full use of the superior resources of both parties, combine the Shanghai fuel cell vehicle industry development plan and the intelligent interconnection industry plan, jointly promote the commercial operation cooperation of fuel cell vehicle products and implement beneficial exploration, and transform the Shanghai Chemical Industry Park into hydrogen energy. Demonstration base, and carry out demonstration operation of various fuel cell vehicles and demonstration operation of intelligent networked vehicles.

After experiencing commercial icebreaking, fuel cells are becoming an "investment new joy" of various capitals.

5. Distilled out of the F round to complete the total of 9.5 billion financing before listing

Didi's trip to complete a new round of over $4 billion in equity financing, the new financing will be used for artificial intelligence (AI) technology development, internationalization and new energy vehicle ecological construction. Investors include Mubadala and SoftBank in Abu Dhabi. With a valuation of more than $50 billion, Didi is one of the highest valuation companies in Asia. Taking into account the latest financing, Didi's current cash reserves reached $12 billion, up from $3.5 billion two years ago. According to people familiar with the matter, Didi is expected to be listed in 2018.

After the new round of financing, the focus of Didi will be on the development of forward-looking technologies such as globalization and driverlessness.

6. Yixin Group completed a strategic investment and financing of 10.5 billion yuan, and went public in Hong Kong in November.

Yixin Group submitted an IPO application on October 29th after receiving financing of 4 billion yuan on May 11, 2017. On November 16th, Yixin Group went to Hong Kong for listing. This news made the Internet automobile industry one of them. Zhen, although the business model of each platform is different, but the core interests are generally consistent: trading and finance. If Yixin Group can successfully land in the capital market with the first auto financing, it means that other companies can also take this road.

As the “first share” of the new retail of automobiles, Yi Xin is expected to become an auto finance oligopoly company. Its IPO success shows “new retail of automobiles” characterized by “open online and offline, media and sales, financial and sales open”. The outlook is widely recognized in the capital market.

7. Baoneng Group invested 6.61 billion yuan in Qoros Auto and 14 billion yuan to build a new energy vehicle project

View to Model K-EV

Kenton Holdings, the parent company of Qoros Auto, announced that Baoneng Group acquired 51% of Guanzhi's shares for 6.63 billion yuan and officially became the controlling shareholder of Qoros. This marks that Baoneng officially took over the task and took the first step in the field of automobile, which also enabled Guanzhi to enter a new stage of development.

In March 2017, Baoneng Group registered Baoeng Automobile Co., Ltd. with RMB 1 billion; in October 2017, Baoneng Group signed a project cooperation framework agreement with Hangzhou Fuyang District Government and Hangzhou Xintiandi Group, with a planned investment of 14 billion yuan. Launched a new energy vehicle project with an annual production capacity of 300,000 units; in December 2017, Baoneng Group started construction of a 30 billion new energy automobile industrial park invested in Guangzhou. The first phase of the industrial park plans to produce 500,000 new energy vehicles and related equipment. project.

8. Bangbang Auto Service received RMB 400 million A round of financing from PICC, CITIC Industry Fund, Yuantong Express and Zhengshi Automobile.

Bangbang Auto Service is a comprehensive service platform for Internet transactions in the automotive aftermarket. It links all resources of the auto parts industry chain, and cuts in from the insurance accidents. It builds the B2B auto distributor platform “driver and safety” to realize the owner, insurance company and maintenance. Enterprises, parts suppliers, and operating service providers have a win-win situation. Recently, Bangbang Auto Service obtained PICC P&C Insurance, PICC Service, CITIC Industry Fund, Qingwa Capital, Yuantong Express, China Mintou Investment, Jingyou International Group, Zhengshi Automobile 400 million RMB A round of investment.

Large state-owned insurance groups are entering the aftermarket in the form of mixed ownership. Timing Auto shares indicate that data operators are increasingly playing a central role in the parts trading platform.

9. Zheng coal machine cost RMB 4.1 billion to acquire Bosch starter and generator business

Zhengzhou Coal Mining Machinery Group Co., Ltd. and private equity firm Chongde Investment announced that the joint acquisition of SG Holding, a well-known motor company of the German Bosch Group, has officially completed the delivery. It is understood that China Merchants Zhiyuan Capital's fund and Zheng Coal Machinery, Chongde Investment and other institutions formed an investment group to acquire 100% equity of SG Holding. The total transaction amount is about 4.1 billion yuan (equivalent to 545 million euros).

The acquisition of the transaction, SG Holding, is a company established by the German Bosch Group to divest the starter and generator business. The main products include starter and generator for passenger cars and commercial vehicles, start-stop motors and 48V BRM energy recovery system. It is the world's leading supplier of starter and generator for passenger cars and commercial vehicles, and has long-term cooperative relationships with world-renowned OEMs such as Daimler, BMW and Volkswagen. SG Holding has a global production and sales base and direct sales to OEMs around the world.

10.Jianghuai Automobile and Volkswagen jointly established a factory to produce new energy vehicles

In May 2017, the pure electric vehicle project jointly invested by Jianghuai and Volkswagen in China was officially approved. According to the plan, after the establishment of the joint venture company, a brand new new energy brand will be launched. The first product is designated as an SUV, and the existing platform of JAC will be adopted, and the subsequent models will be introduced into the Volkswagen platform for transformation. According to insiders of Jianghuai Automobile, the new car has entered the road test stage and is progressing smoothly. It will be officially launched into the market in 2018.

Jianghuai and Volkswagen are typical representatives of the new energy joint venture after the promulgation of the double-points policy, breaking the policy restrictions of no more than two Sino-foreign joint ventures.