Nezha Automobile's African Expansion and Prospectus Details
TapTechNews Jun 27th news, Nezha Automobile officially announced that the first flagship store of Nezha Automobile in Africa opened in Nairobi, the capital city of Kenya on June 26. This is the first store of Nezha Automobile in Africa, and also the first store of new car-making forces in the right-hand drive market in Africa.
According to TapTechNews's inquiry, Nezha Automobile has started the 'first year of going overseas' as early as 2022. Data shows that in 2023, Nezha Automobile's annual delivery volume was as high as 127,500 units, among which the overseas market exceeded 20,000 units, increasing by 567% year-on-year, ranking first among new car-making forces. Nezha Automobile's sales target for 2024 is 300,000 units, including 200,000 units in the domestic market and 100,000 units overseas.
Yesterday, the Hozon New Energy Automobile Co., Ltd. behind Nezha Automobile submitted an application for listing to the Hong Kong Stock Exchange, intending to be listed on the main board of the Hong Kong Stock Exchange. The joint sponsors are CICC, Morgan Stanley, CITIC Securities, ABC International and China Merchants Bank International.
If it can be successfully listed, Nezha Automobile will become the fifth 'new car-making force' to land on the Hong Kong Stock Exchange after NIO, Li Auto, XPeng and Leapmotor.
The prospectus shows that the revenues of Nezha Automobile from 2021 to 2023 are 5.087 billion yuan, 13.05 billion yuan and 13.555 billion yuan respectively.
Among them, the automotive sales and parts business is the main source of income. In the past three years, the revenue of this sector is 4.75 billion yuan, 12.778 billion yuan and 13.253 billion yuan respectively, accounting for 93.4%, 97.9% and 97.8% of the total revenue.
The prospectus shows that Nezha Automobile suffered losses of 4.84 billion yuan, 6.666 billion yuan and 6.867 billion yuan respectively from 2021 to 2023, with a cumulative loss of up to 18.373 billion yuan in three years.