When will Wei Lai, who has been watched by public opinion, start to "build high-rise buildings" again?

Seeing him rise high , See him feast guests , I saw his building collapse ……

This sentence seems to be very suitable for the current Wei Lai .

01

High rise 、 The building collapsed

This year, 5 month 20 Japan , Wei Lai Feng was officially listed on the main board of the Singapore Stock Exchange , Become the first intelligent electric vehicle enterprise listed in three places in the world , It's also the first to be in New York at the same time 、 Hong Kong 、 Chinese companies listed in Singapore .

Under the influence of Singapore listing , After hours, the price of Weilai US stocks rose by more than 5%, Hong Kong stock prices are also 5 month 20 It rose after the opening of the day 3.32%, And all the way up . This should be regarded as the most beautiful moment since the establishment of Wei Lai .

However , It has just been a month since the listing of the three places , Wei Lai began to collapse .

6 month 29 Noon , Wei Lai automobile submitted the suspension application to the Singapore Stock Exchange , At the same time, in the morning trading day , Wei Lai Hong Kong stock once fell more than 9%, As of the close of Hong Kong stock market , The share price of Weilai plummeted 11.36%, The embarrassed appearance is in sharp contrast to the scenery a month ago .

And this time the storm has to come from 6 month 23 Speaking of .

6 month 23 Japan , Some netizens broke the news on the network platform , A Weilai automobile rushed out of the high-rise building of Shanghai innovation port Weilai automobile headquarters and fell , And suspected casualties . This topic soon caused many netizens to discuss , Push Wei Lai to Weibo hot search .

With the continuous fermentation of public opinion , until 6 month 23 On Tuesday night 8 spot , Wei Lai guanbo's statement came late ：“6 month 22 Japan 17 when 20 about , A Wei Lai test vehicle fell from the third floor of Shanghai innovation port parking building , Two digital cockpit testers were killed , One of them is a colleague of the company , The other is a partner employee .” At last, I don't forget to add “ According to the analysis of the site conditions, it can be preliminarily confirmed , It was an accident , It has nothing to do with the vehicle itself ”.

Originally, I thought that the announcement would quell the hot search of Wei Lai , After the announcement , It caused an uproar on the Internet , Netizens' statement on the delayed future and the last inhuman clarification , One after another angrily scolded Wei Lai's cold-blooded , Once again, Wei Lai is on the cusp . At this time, Wei Lai's image has fallen sharply in the hearts of many netizens .

And nightmares always follow . I don't know if it's right that Wei Lai is in a negative wind , Grizzly, an overseas short selling institution, is eyeing Wei Lai again .6 month 28 Japan , Grizzly released a report on Wei Lai , Think Wei Lai exaggerates his income and net profit margin , And there is something fishy behind the executives .

As soon as the report comes out , Wei Lai's share price fell in response , As of the close, the share price of weilaimei stock closed down 2.57%, Hong Kong shares fell nearly 8%.

that , What's going on behind this ？

02

Grizzly stared at Wei Lai

Grizzly seems to believe that Wei Lai has made a move in revenue ,“ The financial performance report divorced from reality deceived Wall Street and investors ”. In the report , Grizzlies' accusations against Wei Lai automobile mainly focus on the following points ：

1. Through its battery leasing business （BaaS Business ） Using accounting means to falsely increase income and net profit ;
2. Weilai's bet with the investor Hefei makes it face performance pressure ;
3. Li Bin, the founder of Weilai, is very close to Liu Erhai, the founder of happy capital, who has been involved in Ruixing's financial fraud , So Li Bin may also have problems .

For these allegations ,6 month 29 The official of RI Weilai issued an announcement in the Hong Kong stock exchange to reply , Said grizzly's accusation was groundless , Its information about the company contains many errors 、 Baseless conjectures and misleading conclusions and interpretations .

Although the official response of Wei Lai is soft , It's not persuasive , But Grizzlies' accusations that everything comes from speculation are not convincing , Even many major international banks have expressed , Grizzly put forward about BaaS Business related queries , It's right BaaS Misreading of patterns , And confusing related concepts and data .

It also shows that , Grizzly bears are suspected of maliciously shorting Wei Lai .

But in fact , Except grizzly , stay 2020 year 11 In August, another well-known short selling agency citron also stared at Wei Lai ,ing Issued a report on the abnormal high stock price and valuation of Weilai , The share price of Weilai fell sharply , The biggest drop was once more than 16%.

Flies don't bite seamless eggs , In a matter of 2 During the year 2 A short company is eyeing , Wei Lai itself is not without any problems .

03

Wei Lai's dilemma

in fact , Recently, Wei Lai's dilemma has been clearly visible , Although the surface is still bright , However, we can see many crises in the financial report of the new quarter .

According to the financial report of the first quarter of this year , Wei Lai achieved revenue in the first quarter 99.11 One hundred million yuan , Year-on-year growth 24.2%, However, the growth rate decreased significantly compared with the same period last year , Year on year decline to 24.39%.

meanwhile , In terms of profitability , Wei Lai's situation is not optimistic . According to relevant data , The net loss of Weilai in the first quarter of this year reached 17.83 One hundred million yuan , Same period as last year 4.5 Compared with a loss of billion yuan , Year on year expansion 295.3%.

In contrast, Wei Lai's head opponent —— Ideal and Xiaopeng , The ideal revenue in the first quarter of this year is 95.62 One hundred million yuan , Year-on-year growth 167.49％, And the net loss is only 1090 Ten thousand yuan , It contracted sharply year on year 96.97％; The revenue of Xiaopeng automobile in the first quarter was 74.5 One hundred million yuan , Up year on year 152.6％. By contrast, it's not hard to find , Wei Lai's performance in the first quarter of this year has fallen behind .

In addition to the growing loss in performance , Wei Lai has also been gradually distanced in sales .

In the first quarter , Weilai's sales volume is 25768 car , The average month is less than 1 Thousands of cars , Limited growth is only 28.5%. And in the same period , Xiaopeng and the ideal sales growth rate are 159.1% and 152.1%. stay 2022 year 1-3 The sales volume of new energy manufacturers in September is on the list , Wei Lai car has fallen behind to no 12 name , The decline is obvious .

that , Why did Wei Lai fall into such an embarrassing situation ？ Through the analysis of , There may be several reasons .

First , as everyone knows , At present, Weilai mainly adopts BaaS Switch mode , Try to create the ultimate user service experience through this mode , To attract users .

But the power exchange mode is not mature today , At present, it is still faced with high construction cost of replacement power station 、 Popularization is difficult 、 It's hard to make a profit in the early stage 、 The problem of lack of unified standards , So car companies want to establish or maintain the service of power exchange mode , You need to burn money continuously . Obviously , It has been established in China 900 Wei Lai, a power plant replacement , With the help of capital, many funds have been invested .

At the same time , At present, Wei Lai has no unified standard for batteries , In addition, other new energy vehicle manufacturers have different research and development of batteries , This led to the closure of the Weilai power plant , Only serve your own brand , meanwhile , Because the user scale of Weilai is not large enough , It is impossible to make profits by changing power plants .

So for now , Wei Lai wants to make the power change mode , You can only continue to burn money on your own , This will obviously continue to increase Wei Lai's financial burden .

secondly , No matter how much financing Wei Lai gets, it is limited , Invest a lot of money in changing power stations , It's hard to ignore one thing and lose another , Reduce investment in other businesses .

For example, in research and development , Wei Lai Yu 2019 year -2021 Annual investment respectively 44.29 Billion 、24.88 Eva 45.92 Billion , Respectively accounting for 56.6%、15.3% And 12.7%, The proportion shows a downward trend . It is precisely because of the reduction of R & D investment , As a result, the competitiveness of Weilai products has been constantly weakened in the new forces , Its chip 、 Compared with ideal and Xiaopeng, autopilot and intelligent cockpit are relatively backward .

Just have the advantage of service , And technology is at a disadvantage , It is difficult for such a Weilai car to attract too many users .

Third , Wei Lai, who has been frequently involved in accidents in the past year, has also made its reputation decline sharply .

Except this year 6 Besides this accident in August , In the last year 7 month 30 Japan , A Weilai in Pudong New Area, Shanghai EC6 After hitting the stone pier on the highway, it suddenly caught fire , Start burning violently , The driver was killed . Just last year, not long after this happened 8 End of month , Linwenqin, the founder of meiyihao, also drove Weilai ES8 And enabled its NOP After the automatic driving function , A traffic accident occurred in the Hanjiang section of Shenhai Expressway , Unfortunately, he passed away .

Frequent accidents have caused Weilai automobile to be deeply involved in the storm of public opinion , More and more people began to question the safety and reliability of Weilai products . No matter how brilliant it is in other aspects , Products whose safety cannot be guaranteed , Will be blacklisted by users .

All in all , At present, there are not many problems that Weilai needs to pay attention to and solve , Although this short report will not hurt Wei , However, the negative public opinion that has appeared many times and has been frequently targeted by short selling institutions , Is it also a warning ？

At present, Wei Lai has collapsed , And when can it again “ High rise ”？ Let's wait and see .