Since June 10th, Evergrande Health has increased by over 478%.
On August 3, Evergrande Automobile Group released the first six vehicles of “Hengchi” in Shanghai and Guangzhou simultaneously, covering passenger cars, SUVs, MPVs, etc. Car category, and all levels from A to D.
Hengda Health (00708.HK) Hong Kong stocks fell more than 7% in intraday trading before turning red. As of press time, Evergrande Health’s intraday share price reported HK$36.65, up 2.52%, outperforming the broader market.
The market has always paid more attention to Evergrande’s healthy car manufacturing business. On June 10, Evergrande Health announced the acquisition of the remaining 17.6% stake in National Electric Vehicle Sweden Co., Ltd. (NEVS). So far, its stock price has risen by more than 478%, of which the highest single-day increase has exceeded 37%. In less than two months, Evergrande Health Gu Jiang has risen from above 6 Hong Kong dollars to above 35 Hong Kong dollars, and its market value has exceeded the 300 billion Hong Kong dollar mark by 5.6 times.
Looking back, Evergrande Health’s first major foray into Faraday Future (FF) was invested in Faraday Future (FF) in 2018. The stock has been boosted by good news and boosted a single day by 66 %.
The “Hengchi” series of new cars released this time have been for a long time in the market. According to the plan disclosed in the 2019 annual report, Hengchi 1 will be unveiled this year. The full range of Hengchi products will be fully mass-produced from 2021. The Guangdong and Shanghai production bases will be completed in the second half of this year and will be put into production in 2021. The planned production capacity is both 200,000 vehicles. In addition, Evergrande is developing 14 new models at the same time.
On July 27th, Evergrande Health issued an announcement on the Hong Kong Stock Exchange stating that in view of the fact that new energy vehicles have become the most important business of the group, the board of directors recommended that the company be renamed “China Evergrande New Energy Automobile Group Co., Ltd.” “New Energy Vehicle Group Limited”, referred to as “Hengda Automobile”.
At that time, the announcement stated that Evergrande’s new energy vehicle business has built a new energy vehicle industry chain covering power batteries, powertrains, advanced vehicle manufacturing, vehicle sales and smart charging, and is operating in China and Sweden. , Germany, the United Kingdom and other countries coordinated research and development, “strive to become the world’s largest and strongest new energy vehicle group within 3 to 5 years”
From the perspective of business structure, Evergrande Health mainly has two parts: health and new energy vehicle business. In 2019, “Hengda·Health”Gu” revenue increased by 58.38% year-on-year to 4.948 billion yuan, and new energy vehicle revenue was 660 million yuan, mainly from the sales of lithium batteries.