The number previously spread in the media was around 20 billion yuan.
Editor’s note: This article is from WeChat public account “Financial Graffiti” (ID: caijingtuya ), the author Stone Jin, edit tuya .
According to the company’s intelligence expert “Financial Graffiti” news, Shenzhen Boao Zhidong future investment partnership, namely Boao Fund, plans to transfer the entire shareholding of Qizhi Auto, which accounts for 6.3755% of Qiqi Auto. Boao Fund is the fifth largest shareholder of Singular Auto and is the C-round investor of Singular Auto.
The relevant documents show that the main products of Singular Auto at this stage are the first medium and large-scale pure electric SUViS6 singular intelligent electric vehicles released in April 2017. The products have been catalogued by the Ministry of Industry and Information Technology.
The document also categorizes the business model of Singular Auto into the mode of “Tesla+Millet”: that is, on the level of smart electric vehicles, the standard Tesla; at the marketing level, at the cost price, After a larger market space, relying on a series of derivative services to achieve profitability, it is similar to the Xiaomi ecological supply chain model.
Since its establishment in 2014, Sing Point has completed 8 rounds of financing, and the total financing has exceeded 17 billion yuan. The investors behind it include Qihoo 360, Lenovo Star, Yunyun Capital, and Boao Fund.
In August 2018, Japan’s Itochu Corporation invested 1 billion yen (about 9.05 million US dollars) to acquire a 1.12% stake in Singular Auto, with a pre-investment valuation of about $810 million.
Less than a month ago, Singular Auto once again received a new round of nearly $100 million in financing from ITOCHU Corporation of Japan. This round of financing will be used to accelerate the mass production of the large-scale pure electric SUViS6 models in the Singular Auto. And prepare for the subsequent IPO in advance. In the future, ITOCHU Corporation will become a more strategic shareholder with singularity through greater initiatives. ( singularity steamThe car has completed a new round of nearly $100 million in financing, or to help IPO:The second largest shareholder of Itochu Cheng).
The big surprise is that the aforementioned exchange documents show that the latest overall valuation of Singular Auto is 4.688 billion yuan, which is even lower than the earlier round of pre-rating valuation, which is much lower than before. The major media reports billions of dollars in valuation.
In the “2019 Hurun Global Unicorn List” released by Hurun Research Institute on October 21, the valuation of Singular Auto 20 billion yuan ranked 84th, which is also the number of new energy auto companies. Three, second only to Xiaopeng Automobile and Weimar Automobile’s valuation of RMB 30 billion.
Before, different media adopted the terms of RMB 17 billion, 20 billion yuan and US$ 3 billion at different stages. As far as the industry is concerned, after the recent round of decline, Weilai’s market value is only about 1.5 billion US dollars.
In addition, the document also disclosed that Singular Auto plans to land on the Kechuang Board and has already engaged in relevant contacts with brokers; new energy vehicles, key components of new energy vehicles, power batteries and related technical service companies are also sponsors. The key areas of scientific and technological innovation.