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2021-01-31
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WM Motor Completes Listing Guidance: It will become the first share of new energy vehicles on the Science and Technology Innovation Board
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For example, in the five years since its establishment, Nio Automobile has raised 54.3 billion RMB. At the head of the new car-making forces, WM Motor has never lacked capital attention.</p><p>According to the counseling summary report, WM Motor has experienced 12 capital increases since its establishment. The first capital increase occurred in February 2017. At that time, WM Motor Co., Ltd., the predecessor of WM Motor, held a shareholders' meeting and made a resolution: it was agreed that the company would increase its registered capital to 107 million yuan, and the newly increased registered capital of 7.2 million yuan was subscribed by CW AUTO, which is an overseas registered company, and the shareholders behind it are difficult to inquire. CW AUTO has accompanied WM Motor all the way to date, and is currently the seventh largest shareholder of WM Motor, holding 4.7816% of the shares.</p><p>It is worth noting that in 2017 alone, WM Motor received six capital increases and two equity transfers. Tianyancha shows that in December 2017, WM Motor announced that it had completed the<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A new round of financing led by capital and followed by Baidu Group. Co-investment institutions also include<a href=\"https://laohu8.com/S/SHI.UK\">SIG</a>Haina Asia, Amoeba and other Internet strategic investors and Internet financial investors. After the completion of this round of financing, the accumulated total financing of WM Motor has exceeded RMB 12 billion.</p><p>From the contents disclosed in the counseling summary report, the company received two capital increases in December 2017. The capital increases included<a href=\"https://laohu8.com/S/00700\">Tencent</a>Tencent Mobility (subscribed for 3,538,188 yuan), Sequoia Zhisheng (subscribed for 3,538,188 yuan), etc. However, after the completion of the aforementioned two rounds of capital increase, Baidu did not appear in the shareholder structure of WM Motor.</p><p>The truth emerged with the disclosure of the coaching summary report. Hangzhou Fuxianghui Investment Management Co., Ltd. is a company actually controlled by Robin Li. In November 2017, Weimar Automobile implemented the fourth capital increase, and Fuxianghui subscribed for the newly increased registered capital of RMB 15,037,298.</p><p>At present, Fuxianghui holds 6.55% equity of WM Motor, and Baidu Online, another company actually controlled by Robin Li, increased the capital of WM Motor in 2018, and the current shareholding ratio is 3.67%. Therefore, the total shareholding ratio of the two companies actually controlled by Robin Li is 10.22%.</p><p>Except for Robin Li's company, which holds over 5% of the total shares, Changjiang Investment holds 5.78% of the shares of WM Motor, the actual controller of which is Huanggang State-owned Assets Management Company; Five enterprises, including Chew Brother Shiqi and Xinding Capital, owned by natural person Zhang Chi, hold a total of 5.21% of the shares of WM Motor.</p><p>It is worth mentioning that Zhang Chi is the chairman of Xinding Capital, which not only invested in WM Motor, but also invested in<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>。 Regarding the choice to invest in WM Motor, Zhang Chi once said that among the head enterprises of new car-making forces, WM Motor is one of the few enterprises that has set up its own factory. As an elderly man in the automobile circle, Shen Hui's product strength and contacts are also trustworthy.</p><p>In addition to the above-mentioned capital, the shareholder structure of WM Motor also gathers Leihui Management (holding 10.2118% of the shares), Tencent Mobility (holding 1.5402% of the shares) and Sequoia Zhisheng (holding 1.5402% of the shares), and some local state-owned assets such as Hefei Industrial Investment, Qingpu Investment, Yangpu Menghang and Central Enterprise Industrial Investment.</p><p>The actual controller of WM Motor is Shen Hui, who is also the core technical personnel of the company and serves as the chairman and general manager. He directly and indirectly holds 16.57% of the company's equity, and the proportion of voting rights directly and indirectly held is 66.51% except for specific matters. This also means that WM Motor has made arrangements for special voting rights internally.</p><p>Net Assets Turnaround</p><p>In addition to a number of well-known capitals, the coaching summary report also disclosed the performance of WM Motor.</p><p>In 2017, 2018, 2019 and January to September 2020, WM Motor achieved revenue of 14.8717 million yuan, 720 million yuan, 1.78 billion yuan and 1.68 billion yuan, respectively; The net profit attributable to the parent company was-1.696 billion yuan, -2.453 billion yuan, -3.608 billion yuan and-3.649 billion yuan, respectively.</p><p>In 2018, WM Motor's revenue completed a qualitative change from quantitative change, while in 2019, it was a higher level. From the perspective of products, 2018 is recognized as the first year of car manufacturing by new forces. This year, WM Motor's first mass-produced model EX5 entered the delivery stage, completing an important step in the car manufacturing process. In 2019, WM Motor said at the communication meeting that the brand's cumulative sales in 2019 had reached 16,876 units, and its sales accounted for 1.16% of the global new energy vehicle market share from the first quarter to the third quarter of 2019.</p><p>In 2020, the cumulative annual sales volume of WM Motor reached 22,495 units, representing a year-on-year increase of 33.3%. At present, WM Motor has mass-produced and delivered WM EX5 series and WM EX6 series pure electric smart vehicles.</p><p>Even if the company's sales of new energy vehicles are rising year by year, it is not difficult to see that the new car-making forces still need to face the reality that it is difficult to make profits in the early stage.</p><p>In addition to the continuous loss of performance, as of December 31, 2018 and December 31, 2019, the total owner's equity (net assets) of WM Motor was-378 million yuan and-3.745 billion yuan, respectively.</p><p>However, from January to September 2020, the total owner's equity of WM Motor turned around to 3.083 billion yuan. The reporter learned that the change of the company's net assets may mainly benefit from the large-scale financing of WM Motor.</p><p>From 2017, 2018, 2019 and January to September 2020, the net cash flows from operating activities corresponding to each reporting period of WM Motor were negative, while the net cash flows from financing activities were: 3.827 billion yuan, 4.287 billion yuan, 4.272 billion yuan and 6.69 billion yuan, respectively, which are also the main financing sources of WM Motor.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Association, previously said that listing is the most important financing means for these car companies, and (listing) can enhance the image and popularity of the whole car companies, which is very beneficial to the development of enterprises. \"Especially the listing on the Science and Technology Innovation Board, it should be said that it has created a good opportunity for sustainable financing for car companies, and it is also the state's support for these car companies\".</p>","source":"sina_symbol","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWM Motor Completes Listing Guidance: It will become the first share of new energy vehicles on the Science and Technology Innovation Board\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-01-31 09:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the Shanghai Securities Regulatory Bureau issued an announcement saying that Weimar Smart Travel Technology (Shanghai) Co., Ltd. has met the application conditions for counseling acceptance and listing on the Science and Technology Innovation Board, which means that Weimar Automobile has completed the listing counseling, and the Shanghai Stock Exchange will soon accept the application materials submitted by the company.</p><p>Although the company has not yet submitted a prospectus to the Shanghai Stock Exchange, WM Motor has disclosed some details in advance in the counseling summary report.</p><p>Among them, for the valuation that the outside world is most concerned about, according to the appraisal report issued by the appraisal company, it is confirmed that on June 30, 2020, the appraisal benchmark date, the book value of Weimar's limited net assets was 3.402 billion yuan, the appraisal value was 24.43 billion yuan, and the appraisal value-added was 21.03 billion yuan, with a value-added rate of 618.14%.</p><p>Setting up special voting rights internally</p><p>Automobile is an industry with high capital demand, but new car-making forces seem to never lack capital to \"support\". For example, in the five years since its establishment, Nio Automobile has raised 54.3 billion RMB. At the head of the new car-making forces, WM Motor has never lacked capital attention.</p><p>According to the counseling summary report, WM Motor has experienced 12 capital increases since its establishment. The first capital increase occurred in February 2017. At that time, WM Motor Co., Ltd., the predecessor of WM Motor, held a shareholders' meeting and made a resolution: it was agreed that the company would increase its registered capital to 107 million yuan, and the newly increased registered capital of 7.2 million yuan was subscribed by CW AUTO, which is an overseas registered company, and the shareholders behind it are difficult to inquire. CW AUTO has accompanied WM Motor all the way to date, and is currently the seventh largest shareholder of WM Motor, holding 4.7816% of the shares.</p><p>It is worth noting that in 2017 alone, WM Motor received six capital increases and two equity transfers. Tianyancha shows that in December 2017, WM Motor announced that it had completed the<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A new round of financing led by capital and followed by Baidu Group. Co-investment institutions also include<a href=\"https://laohu8.com/S/SHI.UK\">SIG</a>Haina Asia, Amoeba and other Internet strategic investors and Internet financial investors. After the completion of this round of financing, the accumulated total financing of WM Motor has exceeded RMB 12 billion.</p><p>From the contents disclosed in the counseling summary report, the company received two capital increases in December 2017. The capital increases included<a href=\"https://laohu8.com/S/00700\">Tencent</a>Tencent Mobility (subscribed for 3,538,188 yuan), Sequoia Zhisheng (subscribed for 3,538,188 yuan), etc. However, after the completion of the aforementioned two rounds of capital increase, Baidu did not appear in the shareholder structure of WM Motor.</p><p>The truth emerged with the disclosure of the coaching summary report. Hangzhou Fuxianghui Investment Management Co., Ltd. is a company actually controlled by Robin Li. In November 2017, Weimar Automobile implemented the fourth capital increase, and Fuxianghui subscribed for the newly increased registered capital of RMB 15,037,298.</p><p>At present, Fuxianghui holds 6.55% equity of WM Motor, and Baidu Online, another company actually controlled by Robin Li, increased the capital of WM Motor in 2018, and the current shareholding ratio is 3.67%. Therefore, the total shareholding ratio of the two companies actually controlled by Robin Li is 10.22%.</p><p>Except for Robin Li's company, which holds over 5% of the total shares, Changjiang Investment holds 5.78% of the shares of WM Motor, the actual controller of which is Huanggang State-owned Assets Management Company; Five enterprises, including Chew Brother Shiqi and Xinding Capital, owned by natural person Zhang Chi, hold a total of 5.21% of the shares of WM Motor.</p><p>It is worth mentioning that Zhang Chi is the chairman of Xinding Capital, which not only invested in WM Motor, but also invested in<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>。 Regarding the choice to invest in WM Motor, Zhang Chi once said that among the head enterprises of new car-making forces, WM Motor is one of the few enterprises that has set up its own factory. As an elderly man in the automobile circle, Shen Hui's product strength and contacts are also trustworthy.</p><p>In addition to the above-mentioned capital, the shareholder structure of WM Motor also gathers Leihui Management (holding 10.2118% of the shares), Tencent Mobility (holding 1.5402% of the shares) and Sequoia Zhisheng (holding 1.5402% of the shares), and some local state-owned assets such as Hefei Industrial Investment, Qingpu Investment, Yangpu Menghang and Central Enterprise Industrial Investment.</p><p>The actual controller of WM Motor is Shen Hui, who is also the core technical personnel of the company and serves as the chairman and general manager. He directly and indirectly holds 16.57% of the company's equity, and the proportion of voting rights directly and indirectly held is 66.51% except for specific matters. This also means that WM Motor has made arrangements for special voting rights internally.</p><p>Net Assets Turnaround</p><p>In addition to a number of well-known capitals, the coaching summary report also disclosed the performance of WM Motor.</p><p>In 2017, 2018, 2019 and January to September 2020, WM Motor achieved revenue of 14.8717 million yuan, 720 million yuan, 1.78 billion yuan and 1.68 billion yuan, respectively; The net profit attributable to the parent company was-1.696 billion yuan, -2.453 billion yuan, -3.608 billion yuan and-3.649 billion yuan, respectively.</p><p>In 2018, WM Motor's revenue completed a qualitative change from quantitative change, while in 2019, it was a higher level. From the perspective of products, 2018 is recognized as the first year of car manufacturing by new forces. This year, WM Motor's first mass-produced model EX5 entered the delivery stage, completing an important step in the car manufacturing process. In 2019, WM Motor said at the communication meeting that the brand's cumulative sales in 2019 had reached 16,876 units, and its sales accounted for 1.16% of the global new energy vehicle market share from the first quarter to the third quarter of 2019.</p><p>In 2020, the cumulative annual sales volume of WM Motor reached 22,495 units, representing a year-on-year increase of 33.3%. At present, WM Motor has mass-produced and delivered WM EX5 series and WM EX6 series pure electric smart vehicles.</p><p>Even if the company's sales of new energy vehicles are rising year by year, it is not difficult to see that the new car-making forces still need to face the reality that it is difficult to make profits in the early stage.</p><p>In addition to the continuous loss of performance, as of December 31, 2018 and December 31, 2019, the total owner's equity (net assets) of WM Motor was-378 million yuan and-3.745 billion yuan, respectively.</p><p>However, from January to September 2020, the total owner's equity of WM Motor turned around to 3.083 billion yuan. The reporter learned that the change of the company's net assets may mainly benefit from the large-scale financing of WM Motor.</p><p>From 2017, 2018, 2019 and January to September 2020, the net cash flows from operating activities corresponding to each reporting period of WM Motor were negative, while the net cash flows from financing activities were: 3.827 billion yuan, 4.287 billion yuan, 4.272 billion yuan and 6.69 billion yuan, respectively, which are also the main financing sources of WM Motor.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Association, previously said that listing is the most important financing means for these car companies, and (listing) can enhance the image and popularity of the whole car companies, which is very beneficial to the development of enterprises. \"Especially the listing on the Science and Technology Innovation Board, it should be said that it has created a good opportunity for sustainable financing for car companies, and it is also the state's support for these car companies\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/norm_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-01-31/doc-ikftpnny2993723.shtml\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f7ad6231fa72bee5d03b095a82ec258","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","BIDU":"百度"},"source_url":"https://cj.sina.cn/article/norm_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-01-31/doc-ikftpnny2993723.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2107223244","content_text":"近日，上海证监局发布公告，称威马智慧出行科技(上海)股份有限公司已具备辅导验收及科创板上市申请条件，这意味着威马汽车已完成上市辅导，上交所即将受理公司递交的申报材料。尽管公司尚未向上交所递交招股书，但威马汽车已在辅导总结报告中，提前披露了部分细节。其中对于外界最关心的估值方面，根据评估公司出具的评估报告，确认在评估基准日2020年6月30日威马有限净资产账面价值为34.02亿元，评估值为244.3亿元，评估增值210.3亿元，增值率618.14%。内部设置特别表决权汽车是一个高资金需求的行业，但造车新势力似乎从不缺资本“捧场”。比如蔚来汽车在成立5年时间里，就已累积融资543亿人民币。而同处在造车新势力的头部位置，威马汽车也从不缺乏资本的关注。辅导总结报告显示，威马汽车成立至今共历经12次增资，首次增资发生在2017年2月，彼时威马汽车的前身威马有限召开股东会并作出决议：同意公司增加注册资本至 1.07亿元，新增注册资本 720万元由CW AUTO认缴，后者是一家境外注册公司，背后股东难以查询。CW AUTO一路与威马汽车陪跑至今，目前为威马汽车第7大股东，持股4.7816%。值得注意的是，仅2017年这一年，威马汽车就获得了6次增资，和2次股权转让。天眼查显示，2017年12月，威马汽车宣布，完成由百度资本领投、百度集团等跟投的新一轮融资。跟投机构还包括SIG海纳亚洲、阿米巴等互联网战略投资者及互联网财务投资者。此轮融资完成后，威马汽车累计融资总额已经超过120亿人民币。从辅导总结报告披露的内容看，公司在2017年12月获得两次增资，增资方包括腾讯系Tencent Mobility(认缴353.8188 万元)、红杉系红杉智盛(认缴 353.8188 万元)等。但在前述两轮增资完成后，威马汽车股东结构中未出现百度的身影。真相随着辅导总结报告的披露浮出水面。杭州福祥汇投资管理有限公司为李彦宏实际控制的公司，2017年11月威马汽车实施第四次增资，福祥汇认缴新增注册资本1503.7298万元。目前福祥汇持有威马汽车6.55%股权，李彦宏另一实控的百度在线通过2018年对威马汽车的增资，目前持股比例为3.67%，由此前述两家李彦宏实际控制的公司合计持股比例为10.22%。除李彦宏旗下的公司合计持股超5%外，长江投资持有威马汽车5.78%的股份，后者实控人为黄冈市国有资产经营公司;自然人张弛旗下的啃哥拾柒号、新鼎资本等5家企业合计持有威马汽车 5.21%的股份。值得一提的是，张弛是新鼎资本的董事长，其不仅投资了威马汽车，同时也投资了小鹏汽车。对于选择投资威马汽车，张弛曾表示，在造车新势力的头部企业中，威马是为数不多的建立了自己的工厂的企业。而沈晖作为汽车圈的老人，其产品力与人脉也值得信赖。除了上述资本外，威马汽车的股东结构中还聚集了雷晖管理(持股10.2118%)、腾讯旗下Tencent Mobility(持股1.5402%)、红杉智盛(持股1.5402%)，另有部分地方国资如合肥产投、青浦投资、杨浦梦航、央企产投等持股。威马汽车的实际控制人则是沈晖，后者还是公司核心技术人员且担任董事长兼总经理，其直接及间接持有公司的股权比例合计为 16.57%，除特定事项外，直接及间接持有的表决权比例合计为 66.51%。这也意味着，威马汽车内部制定了特别表决权的安排。净资产扭亏除一众知名资本外，辅导总结报告还披露了威马汽车的业绩。2017年、2018年、2019年以及2020年1至9月，威马汽车实现营收分别为1487.17万元、7.2亿元、17.8亿元以及16.8亿元;实现归母净利润分别为：-16.96亿元、-24.53亿元、-36.08亿元以及-36.49亿元。2018年威马汽车的营收从量变完成了质变，而2019年则是更上一个台阶。从产品角度看，2018年是公认的新势力造车元年，这一年，威马汽车旗下首款量产车型EX5进入了交付阶段，完成了造车进程中的重要一步。而在2019年，威马汽车在沟通会上称，该品牌在2019年的累计销售已达16876辆，2019年第一季度至第三季度其销量占全球新能源汽车市场份额1.16%。2020年，威马汽车全年累计销量达22495辆，同比增长33.3%。目前，威马汽车已量产交付威马 EX5 系列、威马 EX6 系列纯电动智能汽车。即便公司的新能源汽车销量逐年攀升，但也不难看出，造车新势力仍需面对前期难盈利的现实。除了业绩持续亏损外，2018年12月31日和2019年12月31日，威马汽车所有者权益合计(净资产)分别为：-3.78亿元和-37.45亿元。不过在2020年1至9月，威马汽车所有者权益合计扭亏，为30.83亿元。记者了解到，公司净资产变化或主要得益于威马汽车大体量的筹资。2017年、2018年、2019年以及2020年1至9月，威马汽车每个报告期对应的经营活动产生的现金流量净额均为负，而筹资活动产生的现金流量净额分别为：38.27亿元、42.87亿元、42.72亿元以及66.9亿元，这也是威马汽车最主要的融资来源。全国乘用车市场信息联席会秘书长崔东树此前曾表示，上市是这些车企最重要的一个融资手段，(上市)能够提升整个车企形象和知名度，这对于企业发展是十分有利的，“尤其是在科创板上市，应该说给车企创造了一个很好的可持续融资的机会，也是国家对这些车企的支持”。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":2882,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":312165321,"gmtCreate":1612068842963,"gmtModify":1704867115367,"author":{"id":"3575154036014482","authorId":"3575154036014482","name":"路卡","avatar":"https://static.tigerbbs.com/58f84d05226e2542dd79b2684f1e1d8e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575154036014482","idStr":"3575154036014482"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/312165321","repostId":"2107223244","repostType":4,"repost":{"id":"2107223244","kind":"news","pubTimestamp":1612056079,"share":"https://ttm.financial/m/news/2107223244?lang=en_US&edition=fundamental","pubTime":"2021-01-31 09:21","market":"sh","language":"zh","title":"WM Motor Completes Listing Guidance: It will become the first share of new energy vehicles on the Science and Technology Innovation Board","url":"https://stock-news.laohu8.com/highlight/detail?id=2107223244","media":"智通财经网","summary":"CW AUTO一路与威马汽车陪跑至今，目前为威马汽车第7大股东，持股4.7816%。而在2019年，威马汽车在沟通会上称，该品牌在2019年的累计销售已达16876辆，2019年第一季度至第三季度其销量占全球新能源汽车市场份额1.16%。目前，威马汽车已量产交付威马 EX5 系列、威马 EX6 系列纯电动智能汽车。","content":"<p>Recently, the Shanghai Securities Regulatory Bureau issued an announcement saying that Weimar Smart Travel Technology (Shanghai) Co., Ltd. has met the application conditions for counseling acceptance and listing on the Science and Technology Innovation Board, which means that Weimar Automobile has completed the listing counseling, and the Shanghai Stock Exchange will soon accept the application materials submitted by the company.</p><p>Although the company has not yet submitted a prospectus to the Shanghai Stock Exchange, WM Motor has disclosed some details in advance in the counseling summary report.</p><p>Among them, for the valuation that the outside world is most concerned about, according to the appraisal report issued by the appraisal company, it is confirmed that on June 30, 2020, the appraisal benchmark date, the book value of Weimar's limited net assets was 3.402 billion yuan, the appraisal value was 24.43 billion yuan, and the appraisal value-added was 21.03 billion yuan, with a value-added rate of 618.14%.</p><p>Setting up special voting rights internally</p><p>Automobile is an industry with high capital demand, but new car-making forces seem to never lack capital to \"support\". For example, in the five years since its establishment, Nio Automobile has raised 54.3 billion RMB. At the head of the new car-making forces, WM Motor has never lacked capital attention.</p><p>According to the counseling summary report, WM Motor has experienced 12 capital increases since its establishment. The first capital increase occurred in February 2017. At that time, WM Motor Co., Ltd., the predecessor of WM Motor, held a shareholders' meeting and made a resolution: it was agreed that the company would increase its registered capital to 107 million yuan, and the newly increased registered capital of 7.2 million yuan was subscribed by CW AUTO, which is an overseas registered company, and the shareholders behind it are difficult to inquire. CW AUTO has accompanied WM Motor all the way to date, and is currently the seventh largest shareholder of WM Motor, holding 4.7816% of the shares.</p><p>It is worth noting that in 2017 alone, WM Motor received six capital increases and two equity transfers. Tianyancha shows that in December 2017, WM Motor announced that it had completed the<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A new round of financing led by capital and followed by Baidu Group. Co-investment institutions also include<a href=\"https://laohu8.com/S/SHI.UK\">SIG</a>Haina Asia, Amoeba and other Internet strategic investors and Internet financial investors. After the completion of this round of financing, the accumulated total financing of WM Motor has exceeded RMB 12 billion.</p><p>From the contents disclosed in the counseling summary report, the company received two capital increases in December 2017. The capital increases included<a href=\"https://laohu8.com/S/00700\">Tencent</a>Tencent Mobility (subscribed for 3,538,188 yuan), Sequoia Zhisheng (subscribed for 3,538,188 yuan), etc. However, after the completion of the aforementioned two rounds of capital increase, Baidu did not appear in the shareholder structure of WM Motor.</p><p>The truth emerged with the disclosure of the coaching summary report. Hangzhou Fuxianghui Investment Management Co., Ltd. is a company actually controlled by Robin Li. In November 2017, Weimar Automobile implemented the fourth capital increase, and Fuxianghui subscribed for the newly increased registered capital of RMB 15,037,298.</p><p>At present, Fuxianghui holds 6.55% equity of WM Motor, and Baidu Online, another company actually controlled by Robin Li, increased the capital of WM Motor in 2018, and the current shareholding ratio is 3.67%. Therefore, the total shareholding ratio of the two companies actually controlled by Robin Li is 10.22%.</p><p>Except for Robin Li's company, which holds over 5% of the total shares, Changjiang Investment holds 5.78% of the shares of WM Motor, the actual controller of which is Huanggang State-owned Assets Management Company; Five enterprises, including Chew Brother Shiqi and Xinding Capital, owned by natural person Zhang Chi, hold a total of 5.21% of the shares of WM Motor.</p><p>It is worth mentioning that Zhang Chi is the chairman of Xinding Capital, which not only invested in WM Motor, but also invested in<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>。 Regarding the choice to invest in WM Motor, Zhang Chi once said that among the head enterprises of new car-making forces, WM Motor is one of the few enterprises that has set up its own factory. As an elderly man in the automobile circle, Shen Hui's product strength and contacts are also trustworthy.</p><p>In addition to the above-mentioned capital, the shareholder structure of WM Motor also gathers Leihui Management (holding 10.2118% of the shares), Tencent Mobility (holding 1.5402% of the shares) and Sequoia Zhisheng (holding 1.5402% of the shares), and some local state-owned assets such as Hefei Industrial Investment, Qingpu Investment, Yangpu Menghang and Central Enterprise Industrial Investment.</p><p>The actual controller of WM Motor is Shen Hui, who is also the core technical personnel of the company and serves as the chairman and general manager. He directly and indirectly holds 16.57% of the company's equity, and the proportion of voting rights directly and indirectly held is 66.51% except for specific matters. This also means that WM Motor has made arrangements for special voting rights internally.</p><p>Net Assets Turnaround</p><p>In addition to a number of well-known capitals, the coaching summary report also disclosed the performance of WM Motor.</p><p>In 2017, 2018, 2019 and January to September 2020, WM Motor achieved revenue of 14.8717 million yuan, 720 million yuan, 1.78 billion yuan and 1.68 billion yuan, respectively; The net profit attributable to the parent company was-1.696 billion yuan, -2.453 billion yuan, -3.608 billion yuan and-3.649 billion yuan, respectively.</p><p>In 2018, WM Motor's revenue completed a qualitative change from quantitative change, while in 2019, it was a higher level. From the perspective of products, 2018 is recognized as the first year of car manufacturing by new forces. This year, WM Motor's first mass-produced model EX5 entered the delivery stage, completing an important step in the car manufacturing process. In 2019, WM Motor said at the communication meeting that the brand's cumulative sales in 2019 had reached 16,876 units, and its sales accounted for 1.16% of the global new energy vehicle market share from the first quarter to the third quarter of 2019.</p><p>In 2020, the cumulative annual sales volume of WM Motor reached 22,495 units, representing a year-on-year increase of 33.3%. At present, WM Motor has mass-produced and delivered WM EX5 series and WM EX6 series pure electric smart vehicles.</p><p>Even if the company's sales of new energy vehicles are rising year by year, it is not difficult to see that the new car-making forces still need to face the reality that it is difficult to make profits in the early stage.</p><p>In addition to the continuous loss of performance, as of December 31, 2018 and December 31, 2019, the total owner's equity (net assets) of WM Motor was-378 million yuan and-3.745 billion yuan, respectively.</p><p>However, from January to September 2020, the total owner's equity of WM Motor turned around to 3.083 billion yuan. The reporter learned that the change of the company's net assets may mainly benefit from the large-scale financing of WM Motor.</p><p>From 2017, 2018, 2019 and January to September 2020, the net cash flows from operating activities corresponding to each reporting period of WM Motor were negative, while the net cash flows from financing activities were: 3.827 billion yuan, 4.287 billion yuan, 4.272 billion yuan and 6.69 billion yuan, respectively, which are also the main financing sources of WM Motor.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Association, previously said that listing is the most important financing means for these car companies, and (listing) can enhance the image and popularity of the whole car companies, which is very beneficial to the development of enterprises. \"Especially the listing on the Science and Technology Innovation Board, it should be said that it has created a good opportunity for sustainable financing for car companies, and it is also the state's support for these car companies\".</p>","source":"sina_symbol","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWM Motor Completes Listing Guidance: It will become the first share of new energy vehicles on the Science and Technology Innovation Board\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-01-31 09:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the Shanghai Securities Regulatory Bureau issued an announcement saying that Weimar Smart Travel Technology (Shanghai) Co., Ltd. has met the application conditions for counseling acceptance and listing on the Science and Technology Innovation Board, which means that Weimar Automobile has completed the listing counseling, and the Shanghai Stock Exchange will soon accept the application materials submitted by the company.</p><p>Although the company has not yet submitted a prospectus to the Shanghai Stock Exchange, WM Motor has disclosed some details in advance in the counseling summary report.</p><p>Among them, for the valuation that the outside world is most concerned about, according to the appraisal report issued by the appraisal company, it is confirmed that on June 30, 2020, the appraisal benchmark date, the book value of Weimar's limited net assets was 3.402 billion yuan, the appraisal value was 24.43 billion yuan, and the appraisal value-added was 21.03 billion yuan, with a value-added rate of 618.14%.</p><p>Setting up special voting rights internally</p><p>Automobile is an industry with high capital demand, but new car-making forces seem to never lack capital to \"support\". For example, in the five years since its establishment, Nio Automobile has raised 54.3 billion RMB. At the head of the new car-making forces, WM Motor has never lacked capital attention.</p><p>According to the counseling summary report, WM Motor has experienced 12 capital increases since its establishment. The first capital increase occurred in February 2017. At that time, WM Motor Co., Ltd., the predecessor of WM Motor, held a shareholders' meeting and made a resolution: it was agreed that the company would increase its registered capital to 107 million yuan, and the newly increased registered capital of 7.2 million yuan was subscribed by CW AUTO, which is an overseas registered company, and the shareholders behind it are difficult to inquire. CW AUTO has accompanied WM Motor all the way to date, and is currently the seventh largest shareholder of WM Motor, holding 4.7816% of the shares.</p><p>It is worth noting that in 2017 alone, WM Motor received six capital increases and two equity transfers. Tianyancha shows that in December 2017, WM Motor announced that it had completed the<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A new round of financing led by capital and followed by Baidu Group. Co-investment institutions also include<a href=\"https://laohu8.com/S/SHI.UK\">SIG</a>Haina Asia, Amoeba and other Internet strategic investors and Internet financial investors. After the completion of this round of financing, the accumulated total financing of WM Motor has exceeded RMB 12 billion.</p><p>From the contents disclosed in the counseling summary report, the company received two capital increases in December 2017. The capital increases included<a href=\"https://laohu8.com/S/00700\">Tencent</a>Tencent Mobility (subscribed for 3,538,188 yuan), Sequoia Zhisheng (subscribed for 3,538,188 yuan), etc. However, after the completion of the aforementioned two rounds of capital increase, Baidu did not appear in the shareholder structure of WM Motor.</p><p>The truth emerged with the disclosure of the coaching summary report. Hangzhou Fuxianghui Investment Management Co., Ltd. is a company actually controlled by Robin Li. In November 2017, Weimar Automobile implemented the fourth capital increase, and Fuxianghui subscribed for the newly increased registered capital of RMB 15,037,298.</p><p>At present, Fuxianghui holds 6.55% equity of WM Motor, and Baidu Online, another company actually controlled by Robin Li, increased the capital of WM Motor in 2018, and the current shareholding ratio is 3.67%. Therefore, the total shareholding ratio of the two companies actually controlled by Robin Li is 10.22%.</p><p>Except for Robin Li's company, which holds over 5% of the total shares, Changjiang Investment holds 5.78% of the shares of WM Motor, the actual controller of which is Huanggang State-owned Assets Management Company; Five enterprises, including Chew Brother Shiqi and Xinding Capital, owned by natural person Zhang Chi, hold a total of 5.21% of the shares of WM Motor.</p><p>It is worth mentioning that Zhang Chi is the chairman of Xinding Capital, which not only invested in WM Motor, but also invested in<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>。 Regarding the choice to invest in WM Motor, Zhang Chi once said that among the head enterprises of new car-making forces, WM Motor is one of the few enterprises that has set up its own factory. As an elderly man in the automobile circle, Shen Hui's product strength and contacts are also trustworthy.</p><p>In addition to the above-mentioned capital, the shareholder structure of WM Motor also gathers Leihui Management (holding 10.2118% of the shares), Tencent Mobility (holding 1.5402% of the shares) and Sequoia Zhisheng (holding 1.5402% of the shares), and some local state-owned assets such as Hefei Industrial Investment, Qingpu Investment, Yangpu Menghang and Central Enterprise Industrial Investment.</p><p>The actual controller of WM Motor is Shen Hui, who is also the core technical personnel of the company and serves as the chairman and general manager. He directly and indirectly holds 16.57% of the company's equity, and the proportion of voting rights directly and indirectly held is 66.51% except for specific matters. This also means that WM Motor has made arrangements for special voting rights internally.</p><p>Net Assets Turnaround</p><p>In addition to a number of well-known capitals, the coaching summary report also disclosed the performance of WM Motor.</p><p>In 2017, 2018, 2019 and January to September 2020, WM Motor achieved revenue of 14.8717 million yuan, 720 million yuan, 1.78 billion yuan and 1.68 billion yuan, respectively; The net profit attributable to the parent company was-1.696 billion yuan, -2.453 billion yuan, -3.608 billion yuan and-3.649 billion yuan, respectively.</p><p>In 2018, WM Motor's revenue completed a qualitative change from quantitative change, while in 2019, it was a higher level. From the perspective of products, 2018 is recognized as the first year of car manufacturing by new forces. This year, WM Motor's first mass-produced model EX5 entered the delivery stage, completing an important step in the car manufacturing process. In 2019, WM Motor said at the communication meeting that the brand's cumulative sales in 2019 had reached 16,876 units, and its sales accounted for 1.16% of the global new energy vehicle market share from the first quarter to the third quarter of 2019.</p><p>In 2020, the cumulative annual sales volume of WM Motor reached 22,495 units, representing a year-on-year increase of 33.3%. At present, WM Motor has mass-produced and delivered WM EX5 series and WM EX6 series pure electric smart vehicles.</p><p>Even if the company's sales of new energy vehicles are rising year by year, it is not difficult to see that the new car-making forces still need to face the reality that it is difficult to make profits in the early stage.</p><p>In addition to the continuous loss of performance, as of December 31, 2018 and December 31, 2019, the total owner's equity (net assets) of WM Motor was-378 million yuan and-3.745 billion yuan, respectively.</p><p>However, from January to September 2020, the total owner's equity of WM Motor turned around to 3.083 billion yuan. The reporter learned that the change of the company's net assets may mainly benefit from the large-scale financing of WM Motor.</p><p>From 2017, 2018, 2019 and January to September 2020, the net cash flows from operating activities corresponding to each reporting period of WM Motor were negative, while the net cash flows from financing activities were: 3.827 billion yuan, 4.287 billion yuan, 4.272 billion yuan and 6.69 billion yuan, respectively, which are also the main financing sources of WM Motor.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Association, previously said that listing is the most important financing means for these car companies, and (listing) can enhance the image and popularity of the whole car companies, which is very beneficial to the development of enterprises. \"Especially the listing on the Science and Technology Innovation Board, it should be said that it has created a good opportunity for sustainable financing for car companies, and it is also the state's support for these car companies\".</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/norm_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-01-31/doc-ikftpnny2993723.shtml\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f7ad6231fa72bee5d03b095a82ec258","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","BIDU":"百度"},"source_url":"https://cj.sina.cn/article/norm_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-01-31/doc-ikftpnny2993723.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2107223244","content_text":"近日，上海证监局发布公告，称威马智慧出行科技(上海)股份有限公司已具备辅导验收及科创板上市申请条件，这意味着威马汽车已完成上市辅导，上交所即将受理公司递交的申报材料。尽管公司尚未向上交所递交招股书，但威马汽车已在辅导总结报告中，提前披露了部分细节。其中对于外界最关心的估值方面，根据评估公司出具的评估报告，确认在评估基准日2020年6月30日威马有限净资产账面价值为34.02亿元，评估值为244.3亿元，评估增值210.3亿元，增值率618.14%。内部设置特别表决权汽车是一个高资金需求的行业，但造车新势力似乎从不缺资本“捧场”。比如蔚来汽车在成立5年时间里，就已累积融资543亿人民币。而同处在造车新势力的头部位置，威马汽车也从不缺乏资本的关注。辅导总结报告显示，威马汽车成立至今共历经12次增资，首次增资发生在2017年2月，彼时威马汽车的前身威马有限召开股东会并作出决议：同意公司增加注册资本至 1.07亿元，新增注册资本 720万元由CW AUTO认缴，后者是一家境外注册公司，背后股东难以查询。CW AUTO一路与威马汽车陪跑至今，目前为威马汽车第7大股东，持股4.7816%。值得注意的是，仅2017年这一年，威马汽车就获得了6次增资，和2次股权转让。天眼查显示，2017年12月，威马汽车宣布，完成由百度资本领投、百度集团等跟投的新一轮融资。跟投机构还包括SIG海纳亚洲、阿米巴等互联网战略投资者及互联网财务投资者。此轮融资完成后，威马汽车累计融资总额已经超过120亿人民币。从辅导总结报告披露的内容看，公司在2017年12月获得两次增资，增资方包括腾讯系Tencent Mobility(认缴353.8188 万元)、红杉系红杉智盛(认缴 353.8188 万元)等。但在前述两轮增资完成后，威马汽车股东结构中未出现百度的身影。真相随着辅导总结报告的披露浮出水面。杭州福祥汇投资管理有限公司为李彦宏实际控制的公司，2017年11月威马汽车实施第四次增资，福祥汇认缴新增注册资本1503.7298万元。目前福祥汇持有威马汽车6.55%股权，李彦宏另一实控的百度在线通过2018年对威马汽车的增资，目前持股比例为3.67%，由此前述两家李彦宏实际控制的公司合计持股比例为10.22%。除李彦宏旗下的公司合计持股超5%外，长江投资持有威马汽车5.78%的股份，后者实控人为黄冈市国有资产经营公司;自然人张弛旗下的啃哥拾柒号、新鼎资本等5家企业合计持有威马汽车 5.21%的股份。值得一提的是，张弛是新鼎资本的董事长，其不仅投资了威马汽车，同时也投资了小鹏汽车。对于选择投资威马汽车，张弛曾表示，在造车新势力的头部企业中，威马是为数不多的建立了自己的工厂的企业。而沈晖作为汽车圈的老人，其产品力与人脉也值得信赖。除了上述资本外，威马汽车的股东结构中还聚集了雷晖管理(持股10.2118%)、腾讯旗下Tencent Mobility(持股1.5402%)、红杉智盛(持股1.5402%)，另有部分地方国资如合肥产投、青浦投资、杨浦梦航、央企产投等持股。威马汽车的实际控制人则是沈晖，后者还是公司核心技术人员且担任董事长兼总经理，其直接及间接持有公司的股权比例合计为 16.57%，除特定事项外，直接及间接持有的表决权比例合计为 66.51%。这也意味着，威马汽车内部制定了特别表决权的安排。净资产扭亏除一众知名资本外，辅导总结报告还披露了威马汽车的业绩。2017年、2018年、2019年以及2020年1至9月，威马汽车实现营收分别为1487.17万元、7.2亿元、17.8亿元以及16.8亿元;实现归母净利润分别为：-16.96亿元、-24.53亿元、-36.08亿元以及-36.49亿元。2018年威马汽车的营收从量变完成了质变，而2019年则是更上一个台阶。从产品角度看，2018年是公认的新势力造车元年，这一年，威马汽车旗下首款量产车型EX5进入了交付阶段，完成了造车进程中的重要一步。而在2019年，威马汽车在沟通会上称，该品牌在2019年的累计销售已达16876辆，2019年第一季度至第三季度其销量占全球新能源汽车市场份额1.16%。2020年，威马汽车全年累计销量达22495辆，同比增长33.3%。目前，威马汽车已量产交付威马 EX5 系列、威马 EX6 系列纯电动智能汽车。即便公司的新能源汽车销量逐年攀升，但也不难看出，造车新势力仍需面对前期难盈利的现实。除了业绩持续亏损外，2018年12月31日和2019年12月31日，威马汽车所有者权益合计(净资产)分别为：-3.78亿元和-37.45亿元。不过在2020年1至9月，威马汽车所有者权益合计扭亏，为30.83亿元。记者了解到，公司净资产变化或主要得益于威马汽车大体量的筹资。2017年、2018年、2019年以及2020年1至9月，威马汽车每个报告期对应的经营活动产生的现金流量净额均为负，而筹资活动产生的现金流量净额分别为：38.27亿元、42.87亿元、42.72亿元以及66.9亿元，这也是威马汽车最主要的融资来源。全国乘用车市场信息联席会秘书长崔东树此前曾表示，上市是这些车企最重要的一个融资手段，(上市)能够提升整个车企形象和知名度，这对于企业发展是十分有利的，“尤其是在科创板上市，应该说给车企创造了一个很好的可持续融资的机会，也是国家对这些车企的支持”。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":2882,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
