Biyadi takes 1. have fund of thirteen billion and fifty-two million yuan of money, also bear one hundred and thirty-three billion eight hundred and seventy-seven million yuan of total debt, year interest expenses makes an appointment with 3.352 billion yuan (did not touch buckle) , net profit is 2.78 billion yuan, this means work laboriously to do earn one year to still give a bank Fu Li interest not quite.
Biyadi breaks 2. heavy gold tries best to catch up, regard 3 yuan of lithium as batteries however hind the person that enter, difference is not so good wipe smooth, daimule also embraces long-term even partner peaceful heart times.
3. although Biyadi sends home car of power new energy resources is earlier, have really send an advantage first, become the surveyor's pole of the industry, the person that enter after that like that is ceaseless emerge in large numbers, its send an advantage to be being lost stage by stage first.
Car of our country new energy resources sold data to give heat in March, sales volume is ranked the first, add fast the fastest not be Biyadi model. Wool interest rate, net leads current Biyadi to drop ceaselessly, a huge sum is indebted can't bear heavy burden, exclusive window grows impetus for car of new energy resources pretty good, however emerge in large numbers of strong opponent of car of new energy resources, today bright two years of test are more stern.
1/ is a bank purely " work "
Since Buffett became a shareholder 2008 Biyadi, latter is capital market all the time " star " , starlight is absent nowadays, share price returns the position 5 years ago, and market prise is one hundred and forty-six billion and sixty-five million yuan only, reduced seventy billion eight hundred and thirty-three million yuan than historical peak value.
See Biyadi do business again income, was one hundred and thirty billion and fifty-five million yuan 2018, photograph comparing grew 3 5 years ago times the left and right sides, why the favour of unavailable capital market, the investor that cannot capture Where is fragrant heart?
Outstanding achievement worsens ceaselessly
Did business 2018 although income grows 22.79% compared to the same period, but net profit is 2.78 billion yuan to decrease compared to the same period however 31.63% , this still is below the setting that wins subsidy of many new energy resources, otherwise data is more ugly.
Investigate its reason leads in pairs to drop for wool interest rate and net, 5 years year of wool interest rate from apogee 20.32% drop 16.40% , this drops range is not big, but net interest rate from 5.30% drop 2.73% almost cutting sb in two at the waist, more considerably under automobile industry average net profit leads level.
Care of gain ability can, gain quality also not beautiful, receivable Zhang money and goods in stock hide risk.
5 years year of receivable Zhang money from grow 49.28 billion yuan 13.75 billion yuan all the way, goods in stock from grow 26.33 billion yuan 9.978 billion yuan all the way, former specification buy or sell on credit sends serious, capital to return money rate more not ideal, latter specification product is produced be more than piece.
Put borrow double tall highlight
Annals shows, biyadi sits have fund of thirteen billion and fifty-two million yuan of money, also bear one hundred and thirty-three billion eight hundred and seventy-seven million yuan of total debt, year interest expenses makes an appointment with 3.352 billion yuan (did not touch buckle) , net profit is 2.78 billion yuan, this means work laboriously to do earn one year to still give a bank Fu Li interest not quite.
Year interest expenses / net profit specific value is greater, the capital catenary pressure that shows a company is greater, biyadi exceeds 100% more infrequent, the industry of health Zhi drug of the Bao Lei wanting number that can place on a par to it, Kang Dexin.
Accordingly, biyadi is accorded with put lend pair of tall features, and one of big fear that this feature is capital market.
Financial chief inspector is decreased hold
A decrease run a company numerous, trustee, tall canal decreases Biyadi hold not curious also, but Wu Jingsheng of financial chief inspector is decreased hold different common, what understand a company to run a general name for arteries and veins, healthy state most after all is financial chief inspector certainly.
Is financial chief inspector decreased adumbrative what to hold? No matter how explain, cannot be the doubt of capital market removed easily?
2/ strategy turn searchs " dot " error
Jump out outstanding achievement, biyadi's problem is more severe, it is battlefront is pulled too longly dispersed energy, 2 it is error of choice of crucial technology course.
Indulge diversity
Biyadi already battery business make one's fortune, undertake diversity is explored ceaselessly, at present advocate course of study is reached for component of car of new energy resources, mobile phone assemble, batteries.
The benefit of savor diversity, also of get down diversity acrid.
Besides advocate course of study, still have cloud course, cloud cling to, store can, Guang Fufa report, intelligence drives wait for business, so much business needs capital to prop up, business of wh some of which reduces capital " black hole " .
For example last a period of time 5 years, the cloud course be born that accumulative total throws 5 billion yuan of research and development is not ideal, applaud not draw a large audience does not accord with at the outset of father Wang Chuanfu anticipate: "That is nearly 10 trillion yuan market. "That is nearly 10 trillion yuan market..
What Wang Chuanfu imagines is home has 229 cities to use cloud track, however " the announcement that superintends concerned item about strengthening car of urban orbit traffic to invest a project " after releasing, doorsill of cloud course be born rises and need to examine and approve, come so cloud course did not have later development in domestic grandiose blue print, can give nautical fathom to look for business chance only.
Nevertheless Biyadi also did not abandon thoroughly, turn and cloud of research and development cling to, the main distinction of Ba Yuyun course is the cloud former undertook avoid from the technology, do not attribute orbit traffic, do not need to examine and approve thereby can cooperate with the place directly.
On the history, biyadi has undertaken the domain such as computer of home appliance, notebook is explored, invited Buffett to visit Biyadi 2010 home appliance base, of the same age attends Chinese Taipei computer to exhibit showed computer of much money notebook, nevertheless afore-mentioned exploration stop abruptly very quickly, decided direction is car of acting labour, new energy resources afresh.
Bend overtake by peaceful heart times
Always wanting to bend the Biyadi of overtake, be taken the place of to bend overtake by Ning Deshi instead.
Biyadi can be in former days " batteries one elder brother " , sit embrace patent of large quantities of lithium of phosphoric acid iron, draw on Buffett to undertake value invests.
Never think policy of allowance of car of new 2016 energy resources changes direction, battery of 3 yuan of lithium becomes high energy density sweet pastry, biyadi just begins to take battery of 3 yuan of lithium seriously, but technical transition movement did not catch up with in time.
That year, biyadi is in dynamical cell domain still at the summit of one's power, global rank is next to a pine to fall, home market is had rate be as high as 26% , and emphasize particularly on the Ning Deshi of battery of 3 yuan of lithium takes the place of or " young young man " .
Used 2 years of time only, peaceful heart times squeezes Biyadi below " altar " , hold dynamical cell the market share of 41.2% , and portion criterion fall after a rise reachs Biyadi's market 20% .
The market prise of peaceful heart times of cell of dedicated nowadays power is one hundred and seventy-eight billion one hundred and ninety-two million yuan, exceed in former days " elder brother " , the Biyadi of business numerous and jumbled.
The Biyadi of the Fang Xing that be like a dream breaks heavy gold to try best to catch up, for example exceeds 25 billion Yuan Jianquan ball in Qinghai Xining investment plant of cell of the greatest power, this factory plans to produce 3 yuan of cell entirely, try to turn round adverse situation.
Regard 3 yuan of lithium as batteries however hind the person that enter, difference is not so good wipe smooth, daimule also embraces long-term even partner peaceful heart times.
3/ loses car of new energy resources to get stage by stage run advantage
Biyadi places the business of car of new energy resources with great expectations, also was full of a challenge.
Allowance is about to exit
Policy of allowance of car of new energy resources had major change, purchased allowance to will cancel completely 2020, change hydrogenous fuel cell to the car, charge course of development of station of picket, hydrogenation, operation.
And rose on January 10, 2019, mixture motor vehicle of the type that plug phone will be inspected with fuel car, not only do not take subsidy, also do not take plate of new energy resources.
This two big change are comparative inferior enlighten sale of car of new energy resources has major effect, it is to insert electric type to mix motor vehicle sale to be restrained, 2 it is to add the case that accepts not to increase profit the likelihood is more outstanding, the cost that comes out more after all can him manufacturer is assumed.
Competitive pattern is intense
Fill than the industry is retreated ineluctabilitily, wait of strong opponent annulus makes more Biyadi bear pressure.
Although Biyadi sends home car of power new energy resources is earlier, have really send an advantage first, become the surveyor's pole of the industry, the person that enter after that like that is ceaseless emerge in large numbers, its send an advantage to be being lost stage by stage first.
Shanghai of tesla be born, the fastest this year can partial put into production, tesla CEO Ma Sike ever expressed: "If be in China to build a plant directly, the carriage that can discharge custom duty and high specified number assembles and unassemble cost, tesla will drop in Chinese price 1/3. Tesla will drop in Chinese price 1/3..
Car of tesla sortie new energy resources is earlier, experience of research and development, technology is accumulated, consumer public praise far also exceed Biyadi, homebred the tesla after changing is low upright product and Biyadi high-end product value may differ very few, how can be consumer chosen? Potential customer prediction of a person's luck in a given year is afraid of Biyadi's part only again place hard to avoid.
Ao Di, masses and on BMW and collaboration of steam group collaboration, Great Wall car, Reynolds and Jiang Ling group... plan of foreign capital brand is devoted henceforth heavy gold, increase car of new energy resources to put in scale, and auspicious, on steam is multiplied wait for national endowment brand with the car unwilling also give the impression of weakness raises the price of the commodities in succession car of new energy resources.
In fact, new energy resources of steam of north of national endowment brand, on steam multiplies the prep close behind of sales volume of car of new energy resources that uses a car after Biyadi, back big group supports, actual strength also nots allow small gaze.
In addition, internet builds car weight to rise abruptly, colourful comes car sale is lousy also 10 thousand.
Colourful comes the car burned 100 million yuan about a hundred 3 years, and the impetus that burn money is had no stop evidence, its ES6 is many this year consign, form direct competition to concern with Biyadi's EV600, latter does not have clear advantage, a hand-to-hand combat is about to perform, of course colourful comes the car is short-term inside cannot constitute genuine menace, but do its burn fund strategy to you can pull Biyadi lair?
Face the encircle and suppress of a lot of strong opponent, biyadi is new if if of car of the sources of energy desertions throne of sales volume first, break out of an encirclement fails, will serious step is taken the place of to bend the track of an overturned cart of overtake by Ning Deshi.
To in those days, is Biyadi's market prise returned can hold together one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two yuan?
