() The Record Form of Investor Relations Activities was released on January 8th, and the company was investigated by 87 institutions on January 7th, 2022. The types of institutions are QFII, insurance companies, others, fund companies, overseas institutions, securities companies and Sunshine private equity institutions.
The main contents of investor relations activities are introduced:
First, introduce the company’s situation. Xiaokang and Huawei create a new model of deep cross-border cooperation in joint business. On April 19th, 2021, we started a mobile phone shop to buy cars. On December 23rd, Huawei released a new mobile phone and our new car at the same time, which was the first time that two smart terminals, a mobile phone and a car, were released at the same conference. The conference was a great success. It cooperated with Huawei and has a strong online digital marketing channel, especially in the core business district, which has a large number of offline store resources and is convenient for users to reach. We pursue quality delivery, adopt experiential marketing, and adopt a new sales model based on our vast offline store resources, which has a good response and strong customer purchase intention. We think this new sales model is the development trend of intelligent electric vehicles.
Second, explain the company’s current hot topic in the market (1) Xiaokang initiated a new model of joint cross-border cooperation.
On the question of whether Xiaokang is a foundry, we made it clear that we didn’t do it before and now, let alone a foundry. Eighteen years ago, before we entered the automobile industry, the cooperation with Dongfeng Group realized the first successful cross-border of Xiaokang shares, and Xiaokang shares did not work as a foundry. According to the strategic agreement, joint business cooperation agreement and related agreements signed by us and Huawei, we and Huawei are long-term partners. From R&D to manufacturing to delivery of automobile business, the company is responsible for R&D, manufacturing, delivery, service and creating user experience in the whole life cycle; Huawei is deeply involved in product definition, quality control and channel sales.
The cross-border cooperation between Xiaokang and Huawei is deeply successful. The teams of the two sides have worked hard day and night and invested huge manpower and resources. Now and in the future, there is no reason for the two sides not to cooperate.
(2) Regarding whether SF5 is discontinued:
SF5 and Wujie M5 are both models of Celestial Company, and the company will continue to introduce new models to meet the needs of more users. As far as the company is concerned, we will not take the initiative to stop production. As long as users have demand, we will produce and deliver it. That’s the case with SF5. We will not take the initiative to stop production. The price of SF5 and Wujie M5 are different, so users can choose. We give the choice to users! Orders will be produced, delivered and served, and Cyrus will serve every car and every new and old user! Whether SF5 or M5, we will achieve high-quality delivery.
(III) Question and answer session of investors
Q: A new model of cooperation between Huawei and Xiaokang emerged at the end of the 21st century. Can you introduce the cooperation model in detail and how to learn from each other’s strengths?
A: The cooperation with Huawei is cross-industry cooperation. Huawei Terminal Company is well aware of customer needs. As a mature vehicle enterprise, Xiaokang has experience in automobile research and development, manufacturing, sales and service. The cooperation between the two parties has created a precedent in the industry and produced a lot of valuable experience. This model is also the development trend and future of the smart electric vehicle industry, and it has also achieved some success. Before Xiaokang was engaged in automobile and () cooperation, Xiaokang shares crossed the border into the field of micro-cars. Since we entered this industry in 2003, there were many friends, and now there are only three enterprises left in that year: Wuling, Changan and Xiaokang. This shows that we have experience in cooperation with other enterprises, and we also have a successful experience base. Xiaokang is a modern private enterprise with high efficiency. The cooperation with Huawei over the past year has also proved the success of an efficient and standardized private enterprise mechanism. We launched a new model in March last year, and everyone saw our M5 debut in December last year. I believe that the effect of cross-border cooperation will begin to be reflected in the first quarter of this year, and batch delivery will begin in March this year. We are very confident about the sales data in the second and fourth quarters.
The monthly sales target of the new energy automobile industry is over 10,000 yuan. We think this is the threshold sales volume of new energy vehicles in 2022, which is our goal, and the threshold sales volume will be higher in the future. At present, it usually takes a certain time for the sales of high-end electric vehicles to climb. We have full confidence and confidence in our products and channels, and hope to achieve the sales scale achieved by others in five or six years within two years.
Q: The delivery volume of SF5 last year was less than the market expectation. What did the company think?
A: Only about 8,000 SF5s were delivered in 2021, and the reason for the small delivery was mainly due to chip problems. The chip will affect our delivery mainly because our owner of SF5 is developed in the United States, so he uses more American electronic materials, which has been greatly affected.
Q: Can you tell us about the follow-up vehicle planning?
A: We have now launched the M5, and it is expected that a new large SUV will be launched at the end of the second quarter or the beginning of the third quarter in the middle of the year. I’ve been driving the M5 myself for some time, and I’m confident that it’s a car that can’t be separated once I get started. We are also developing a new large-size SUV, which will be released in 2023.
Q: What is the pace of the subsequent launch of pure electric vehicles?
A: There will be pure electric vehicles coming out this year. Because in 23 years, Shanghai’s extended journey can’t get a green card. Considering these market demands, we will have a pure electric version of M5.
Q: When will the M5 be officially delivered? What is the output scale?
A: There will be small batch delivery in February, and batch delivery will start in March. Wenjie M5 is mainly produced in Liangjiang Factory in Chongqing, which can produce 30 sets per hour, and its automation efficiency is still very high. This factory can produce 15,000 units a month. The models in the second half of the year will be produced in another factory in Chongqing, which will not affect the production capacity of M5.
Q: Will Huawei cooperate with other car companies?
A: Although it’s not up to us to decide who Huawei will cooperate with, our cooperation is already deep. As mentioned earlier, Xiaokang Co., Ltd. is a modern private enterprise, and its efficient and flexible mechanism is our advantage, so it is difficult for other manufacturers to reproduce it in a short time. Our cooperation is our common choice.
Q: Why is Huawei’s self-driving system not reflected in the M5? Will it be reflected in subsequent models?
A: Huawei’s autopilot is different from Tesla’s autopilot. Huawei’s auto-driving is vehicle-road coordination, which requires vehicle-road coordination. Without road coordination, the auto-driving of the car cannot be played out. Tesla’s auto-driving is self-adaptive auto-driving, and the road is only an aid. The contents of China’s road regulations on autonomous driving are still under study, and we also hope that China’s roads will be opened to autonomous driving as soon as possible. Auto-driving vehicle-road coordination is not only to ensure that my car does not hit the wall, but also to ensure that other people’s cars do not hit me. This high-order auto-driving technology of vehicle-road coordination is very advanced and needs time data verification. Our follow-up models will definitely have Huawei’s advanced autonomous driving.
Q: What do you think of the present integrated die casting technology? Will you consider using integrated die casting technology for any vehicle model in the future? Is there a die casting factory or die casting machine factory in communication?
A: It is expected that from the end of this year to the first half of next year, we will realize integrated die-casting body. Now it has entered the stage of comprehensive research and development. This technology will reduce the weight of the car body and increase the output. Because at present, the front section and the rear section are provided for welding, the technology will be integrated aluminum alloy die casting, which will greatly improve the production efficiency;
Chongqing Xiaokang Industrial Group Co., Ltd. is a manufacturing enterprise integrating R&D, manufacturing, sales and service of passenger cars, commercial vehicles, powertrains and other automobile parts. The company currently has complete vehicle brands such as SERES, Dongfeng Scenery, Dongfeng Xiaokang, DFSK, Ruichi, etc. The main product pedigree includes SUV, MPV, mini-car and core parts. Among them, the whole vehicle products cover intelligent electric vehicles and fuel vehicles, and the core components include powertrain and three electric products with displacement from 1.5t to 2.0t..
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