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Original title: This domestic new energy company, second only to BYD, will be listed next year?
Written | Edited by Zhang Ruichen | Wu Xianzhi
Source: Photon Travel
Recently, various domestic new energy sources have announced their deliveries in October this year. Among them, BYD once again ranked first with 217,800 units. The second-ranked GAC Aian sold 30,063 units, a year-on-year increase of 149%.
In the first 10 months of 2022, Aeon’s cumulative sales exceeded 210,000 units, a year-on-year increase of 134%. You must know that Aian has sold more than 30,000 units for two consecutive months. There is no doubt that the Aian brand has become one of the leaders in the new energy market, judging from the continuous growth in sales.
As a subsidiary of GAC Group, the GAC Aeon brand will only officially operate independently at the end of 2020. It was originally just a name of a car series. Now it is the development carrier of GAC Group’s pure electric vehicle industry, and now it has started independent financing. In October, Aion completed the A round of financing, with a financing amount of 18.294 billion yuan, releasing 17.71% of the shares. In other words, based on the amount of financing, GAC Aian’s valuation is 103.3 billion yuan. At present, the market value of GAC Group is 130 billion yuan, which is only 30 billion yuan higher than that of GAC Aian. In terms of valuation, it will not be surprising that GAC Aian one day surpasses GAC Group.
According to media reports, GAC Aian plans to file an initial public offering application with securities regulators in the second quarter of next year, intending to sprint for the first share of the new energy vehicle science and technology innovation board.
The reason why investors are willing to value GAC Aeon’s A round of 100 billion is probably mainly from the perspective of sales growth, giving a very high market premium level.
One thing that must be mentioned is that in 2021, the average selling price of GAC Aian’s bicycles is 143,700 yuan, which belongs to the low-end market price range. Compared with BYD, there is still a certain gap.
Urgent need to tear off the “online car” label
From the product point of view, AION currently has 5 products including: AION S, AION S PLUS, AION Y, AION V, AION LX. Except for AION LX, which is priced in the range of 286,600-469,600 yuan, the remaining four are priced at Covered in the range of 137,600-269,800 yuan.
AION S is AION’s first model, and it is also AION’s current top-selling product. Another “sales responsibility” is AION Y. The common point of the two models is that they are easily accepted by consumers. Including terminal discounts, a new energy vehicle can be won at a price of over 100,000, which is the first choice of most consumers. AION S PLUS and AION V PLUS are more like upgraded models of AION S and AION Y.
An example to introduce the real feedback of AION S owners:
AION S and AION Y can account for more than 80% of AION’s total monthly sales. It is precisely because the two main products sold are priced at around 150,000 yuan, which also makes Aian’s brand image always “low-end”. Of the total deliveries of GAC AION in 2021, 43% will be contributed by the B-end market, and 63% of the AION S with the highest sales volume will come from the B-end. Although it is said that this year, GAC Aian has been vigorously expanding the C-end market and has launched new models with higher prices, but its real data still needs to be discounted.
AION LX PLUS is like a stepping stone to promote AION’s entry into the new energy mid-end market. However, if you want to transform into the mid-to-high-end and seek breakthroughs, it is not something that can be successful overnight.
It is not impossible to transform into a high-end car, but the primary goal is to tear off the label of “cheap car-hailing” of the Aian brand. After all, in the current domestic market, any relationship with “online car-hailing” is equivalent to high-end car-hailing. Missed.
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