“Great Leap Forward”-style brand promotion, IPO is also difficult to savior

I saw the newcomers laugh. From the brand night to the financing of tens of billions, Aeon’s 2022 will undoubtedly blossom. When new energy becomes a fire, it will form a prairie prairie in the development of the industrial chain that is ready to go, and it will also ignite Capital from different backgrounds, different platforms, and different regions is willing to join hands and win-win cooperation enthusiasm.

Recently, GAC Group released the “Progress Announcement of Guangzhou Automobile Group Co., Ltd. on the Capital Increase and Share Expansion of Subsidiary GAC Aian”. The announcement shows that Aian was publicly listed on the Guangzhou Industrial Exchange, implemented capital increase and share expansion, completed the A round of financing, and introduced 53 strategic investors. The value is over one hundred billion yuan.

This time, Aian’s A round of financing is mainly to promote the listing strategy that has been planned. Zeng Qinghong, chairman of GAC Group, said earlier that Aian will directly prepare for listing after the A round of financing, and strive to complete the IPO in 2023. It is possible to be listed on the Science and Technology Innovation Board and win the “first share of new energy vehicles on the Science and Technology Innovation Board”.

At the moment when the new energy vehicle sector is in a downturn as a whole, Aian is indeed bright, but when you calm down, it is not difficult to find out, and regardless of whether Aian can pass the core thresholds of technology and finance for the listing of science and technology innovation, even if it is successfully listed, If you want to gain the favor of the capital market, you must have continuous corresponding stories and achievements as support.

In terms of sales, Aian seems to be able to hand over a good report card. According to the data of the Passenger Federation, Aian sold more than 30,000 units in September this year, and the cumulative sales from January to September reached 180,000. But when the microscope is put on the model, it is not difficult to find that the two main models, AION S and AION Y, with a price of less than 200,000 yuan, have always accounted for more than 90% of the total sales.

As for the best-selling “gold content” of these two cars, some clues may be seen from the taxis and online car-hailing on the streets. According to the insurance volume data, the leasing ratio of AION S in 2020-2021H1 is 60-70%; after July 2021, the proportion of private car customers of AION S will increase from 27% to 54%. That means nearly half of the AION S on the road last year were taxis and ride-hailing vehicles. According to relevant media reports: In 2020, Aeon sold 60,000 vehicles, 73% of which became taxis and online car-hailing. An online car-hailing company in South China has handled 3,000 Aion cars in two years. Last year, Aian sold 127,000 cars, and 43% of them were online car-hailing. High sales have become the capital of Aian’s advocacy of “Ai Xiaowei”, but he has also firmly welded the low-end label of “online car-hailing” to himself. In the long run, how does Aian continue to impress capital with high-end stories?

Last month, the release of the hypercar Hyper SSR at the night of the Aian brand is not as good as a continuation of the high-end story. Although the appearance of “there is a road, there is an Aian car” is a little ugly, a mass-produced supercar under the new brand. It’s not appropriate to run the Hyper SSR as a parody of Tesla and Weilai, but the Hyper SSR’s labels are “the fastest on the surface”, “comparable to the back feeling of a rocket launch”, and the overall horsepower “closely beats” F1. Out of the circle, because it has been proved that it cannot stand scrutiny: the most discussed “1.9 seconds”, the benefit of technology has a marginal effect. After the acceleration time enters 3 seconds, it is extremely difficult to improve every 0.1 seconds. Because of this, the Hyper SSR’s “1.9 seconds” is considered a huge exaggeration.

The announcement of the high-end supercar Hyper SSR shows Aion’s anxiety about the urgent need to enhance the brand value. It is a pity that Aion’s way of transforming anxiety has always been too radical. We can easily see from Aion’s 5-year development trajectory that achieving true high-end is still a distant goal for Aion.

01 Aian, the bragging “Hanhan”

Many people don’t know that with Hyper SSR and Haobo as nodes, this is actually the second time that Aeon has achieved a high since its establishment five years ago. Helpless, in reality, even the high-end of new energy vehicles has never been achieved overnight, once and for all.

Aian was formerly known as GAC New Energy. At the beginning of the brand’s establishment, General Manager Gu Huinan once said that GAC Aian was positioned as a high-end smart electric vehicle brand. But then forced to quickly win the battle of pure electric sales, the price of Aian’s initial models were preset in the range of 150,000 to 250,000.

In April 2019, AION S was officially launched as the first model of Aion, with a price of about 170,000 yuan. If you have participated in the press conference of that year, you have used a lot of “first” tones for Aion. Impressive, at the same time, AION S has been using the concept of constant speed battery life to promote its own products before its release.

AION S

Of course, I have to admit that GAC New Energy’s concept of using a pure electric platform to build vehicles is undoubtedly forward-looking in that era when oil was replaced by electricity. Power control and space size have great advantages, which also makes AION S still highly competitive even in today’s pure electric vehicle market, becoming the best-selling car in Aion.

After tasting the sweetness on AION S, Aion launched AION LX in October of that year, and the price came to about 360,000 yuan for the first time. For this reason, GAC New Energy set a goal for Aion LX-challenging Tesla . Obviously, in the eyes of everyone, this is Aian’s first high.

On AION LX, Aion had high hopes. It is reported that a senior executive of GAC New Energy got angry at a test drive event because the test drive coach at the time talked about GAC New Energy Aion LX, Tesla model X, When looking at the three Porsche Cayenne cars, he blurted out “experience and feel the pros and cons of the three cars”, the executive interrupted directly and said confidently – not each other’s pros and cons, but comprehensive surpassing and crushing!

AION LX Plus

In fact, in this “crushing everything” body, you can hardly see the advantages of its product strength: AION LX’s mass-produced L3 autonomous driving has been delayed. In 2021, some people said that AION had a test drive in 2021. The standard of LX can only reach L2+. It is found that AION LX cannot automatically change lanes to overtake, but when a white arrow is displayed on the side of the blue steering wheel icon on the instrument panel, the driver can change the lane only by turning the turn signal lever. In this regard, the OEM blamed the policy restrictions on high-precision maps for this problem. However, according to the official website, consumers need to pay 239,600 yuan to add remote control parking and ADiGO 3.0 fully automatic driving assistance system. To spend such a large sum of money to buy an automatic driving system that is said to be L3 but can only be L2+, consumers say that it is too much. loss.

As we all know, Aian is backed by GAC Group, and GAC’s new energy technology reserves are strong, but it has not been transformed into the advantage of product strength. AION LX is a living example. For example, the sensor configuration and automatic driving assistance functions announced by the redesigned AION LX Plus are not equipped on the Qianli version with a range of 1008 kilometers, no lidar, and no various intelligent driving assistance systems. , and there is even no basic standard millimeter-wave radar. Not only that, the so-called “second-generation lidar” of AION LX Plus was revealed to be the same lidar solution from the same manufacturer as Weimar M7. The words “actually inconsistent with propaganda” seem to be thrown in front of consumers.

Gu Huinan, general manager of Aian

It is even more regrettable that Aian apparently lost himself in exaggerating the facts. For example, to create a “traditional Chinese medicine car” for epidemic prevention, it is actually just adding Chinese medicine essential oils to the air conditioning system, claiming that it can refresh the mind, relieve driving fatigue, and even enhance the owner’s immunity, appetizers, and regulate qi and blood. For another example, Aian’s official Weibo once released a notice that a model equipped with a graphene-based super fast charging battery can be charged by 80% in 8 minutes, and the NEDC standard cruising range reaches 1,000 kilometers, which was questioned by Ouyang Minggao, an academician of the Chinese Academy of Sciences. , he directly commented on this battery life function in his speech: “In terms of current technology, he must be a liar.” Although Gu Huinan, general manager of GAC Aian, responded and explained the fact that there is a difference between the forecast and the actual, doubtful The seeds are buried in the hearts of consumers.

It is worth mentioning that his “high ambition” behavior even attracted the attention of the central media. Following CCTV’s criticism, on January 26, 2021, Xinhua Daily Telegraph published an article “Beware of Exaggerated Hype in the New Energy Vehicle Industry”, using the propaganda of Aian’s fast charging and ultra-long battery life as an example to criticize the hype in the new energy vehicle industry. “Exaggerated hype” obviously shows the seriousness and conspicuousness of the Ayan problem.

From 2019 to 2022, the new energy market has been developing rapidly for 4 years. At the beginning of its establishment, Aeon took the lead in creating pure electric vehicles. However, time waits for no one. Other new energy vehicles have passed more reliable and advanced vehicles. When technology seized the market, except for the release of magazine batteries, Aian did not see any substantial progress in technology in the field of autonomous driving like a “handsome”. According to rumors, Aian has also had plans to deploy supercharged piles, but until now, it has never released the specific number and city data on the Internet.

The difficulty of Aian’s “high-end” road shows the fact that technical strength is the key. The continuous failure of the high-end road seems to have caused Aeon to change its strategy, and it will be listed in 2022 as Aion’s primary means to achieve brand improvement. So, can the listing be able to realize Aian’s wish?

02 Listing directly refers to the Science and Technology Innovation Board

Going public is of course what every car company expects. Going public is a capital strategy that can effectively amplify the progress and intensity of the company’s ambitions. After the listing, not only will the company’s own reputation be rapidly improved, but the problem of capital shortage will also be greatly improved. Gu Huinan, general manager of GAC Aian, once bluntly pointed out that “capital has a great influence. When the stock rises, hundreds of millions of people will know that there is such a brand, and it is difficult to do it by propaganda alone.”

As we all know, Aian’s goal is to IPO on the Science and Technology Innovation Board. The technology board IPO can bring considerable financing to GAC Aeon, making its arsenal more abundant. In particular, the continuous investment in the three-electrical system and intelligence, with tens of billions of funds at every turn, is a huge burden for any traditional OEM.

In addition, Aian can reduce certain risks after listing. In recent years, relying on product profitability has been too limited and unstable. The main reason is that the cost of chips and raw materials is rising and the supply is unstable. GAC Group also stated that GAC Group faces risks such as shortage of chips, rising raw material costs, and repeated epidemics. Through the listing, the diversification of the shareholder structure of Aeon and the improvement of resource integration capabilities can effectively reduce risks.

Therefore, no matter from the brand development trend or the needs of its own entire industry chain construction, IPO will be the key to GAC Aeon to upgrade its grade, and the realization of a listed technology IPO is crucial to the development of Aion. However, will the future of Aian be bright after the listing?

The first thing Aian needs to face is the continuous loss after listing. This new force has a deep understanding of this. Wei Xiaoli has not made a profit since its listing. Only in 2021, the three companies will have a total loss of more than 9.2 billion yuan. Can Aian, also after listing, solve the “bottomless pit” of high-end investment? If not, coupled with the fact that Aion has been losing money for three consecutive years, will Aion’s earnings after the listing be as good as expected?

Secondly, it is also very important whether the product strength can keep up with the market demand. In the era of new energy vehicles, the technology change is too fast, and the auto industry is very introverted. Take Xiaopeng, who is Aian’s favorite comparison. After the explosion of the P7, Xiaopeng launched a smart combination with differentiated play. Xiaopeng P5, even if the car has the blessing of urban NGP, and Xiaopeng’s technology in the field of assisted driving is far ahead compared with other independent manufacturers, but the final decision on whether Xiaopeng can break through to the high-end depends on the G9 in the market. feedback on. In the future, Aian is bound to face the bumpy road of Haobo’s impact on the high-end.

In short, whether the future is good or bad, the listing of Aeon is imperative. The successful Series A financing has further accelerated the pace of listing, but we can only wait and see what happens after the listing.

03 Summary

In the final analysis, the development of Aian can be said to be without “talent”: the support of GAC Group, the smooth transformation of traditional car companies, the sales achievements on the new energy track, the favor of capital, and the upcoming listing… There are various signs that Aian can be called It is a future car company. But it faces a lot of problems. If you want to successfully achieve brand promotion, you must face up to your own shortcomings.

Improvement of technical issues. It is undeniable that, as the hope of GAC Group’s new energy vehicles, Aian has its own advantages: the research and development supported by GAC Group, and the existing supercharged magazine battery technology, but due to poor technology and exaggerated marketing promotion, it has reduced its own advantages. ‘s reputation. The listing of Aeon this time, sprinting for the first share of the new energy technology version, is inseparable from the absolute strength and guarantee of technology. If Aion can overcome these deficiencies, play steadily, and develop publicity and technology that matches its own strength, it will be closer to consumers. Only with the heart can reduce obstacles to the road after listing.

Although Aian started early, he still missed a lot of opportunities due to some factors. Only by recognizing yourself can we see the sun. Insight into the current situation, learn from others, reflect on yourself, and build a car with excellent technology step by step, may really improve the brand influence.