Text 丨 Direct IPO Sun Yuan.
On February 23, Geely acquired the supercar brand , merged with L Catterton Asia Acquisition Corp (LCAA) with special goals of overseas special purposes., Will successfully land on Nasdaq.
According to the final version of the final version of the final version of the merger of Lotus technology submitted to the United States SEC with LCAA, it shows that the company has passed public equity private equity investment in 2023The total financing commitment agreement with a total of about 870 million US dollars was signed by the conversion of bonds, and the consolidated valuation was nearly 6.1 billion US dollars (about 43.9 billion yuan).
The valuation was $ 500 million higher than the earliest announcement of the merger at the earliest in January last year, and the valuation period rose 13%after a year.
Born in the UK, Luther once named Ferrari and Porsche, and was called the worlds three major supercar brands, but helplessly lived in the 1980s.EssenceFinally was compiled by Geely in 2017, and the headquarters fell in Wuhan before opening a rejuvenation of a luxurious supercar.
For Luters, Geely and Li Shufu are the turning point of their fate. The second year of acquisition of Geely not only started to cultivate heavy cultivation, but also in the first market.Bring Capital and other institutions.In 2023, Li Shufu, who has experienced 7 IPO experience, took Laetus on the road of "Super Run" for 13 months.
Handheld the World Super Running IPO is the further expansion and improvement of the Geely business territory.This IPO with a valuation of 43.9 billion is also the first IPO of Geely founder Li Shufu in the year of Huajia.
A British Wuhan Super Run IPO
How to run into Li Shufu in the hands of an old luxury sports car company must be talked about in 1948.
Collin Chapman, who was studying in engineering technology at the University of London at the time, used the Austin 7 sports car he had modified as his first car for the track, andRe -registered as Lotus Mark 1.
This is the first Lotus brand.
In 1952, Chapman officially founded the racing manufacturing company -Luters Machinery Engineering Company, and then the company not only continued to improve and update the design of the car, but also set up a team to participate in the F1 competitionEssence
From 1963 to 1978, Lotus won a total of seven F1 team championships, and continuously launched mass production sports cars of various classic models such as Elite, ELEN, EUROPA, ESPRIT,It has achieved a glorious years.
Until the 1880s, Lotus ushered in the turning point of the story.
Due to business landslides due to global economic depression, Lotus was deeply trapped in the financial crisis. The founder Chapman died in 1982 and began his career.
In 1983, Toyota acquired 16.5%of Luthers equity, but the crisis was not lifted; in 1986, the United States GM acquired 58%of the equity of Lotus, the following year, the following year, the following year, the following year, the following year, the following year, the following year, the following yearIt even increased to 97%; in 1993, GM sold Lotus to an Italian businessman with 300 million euros; in 1996, Lotus was sold to Malaysia Baoto Automobile.
However, they are not regarded as a "good person" of Luther. Until Geelys acquisition, the gear of the "declined noble" fate began to rotate in the direction of revival.
For Geely, the acquisition of Lotus is a win -win situation.
With auspicious support, Luther is different from companies that are alone, and can continue to support it. Geely needs Lotus to enter the queue of high -end models, thereby enhancing brand valueEssence
In order to let Luther stand at the forefront of the luxury sports car brand again, Feng Qingfeng, vice president of Geely Automobile Group, is the CEO of the Luttez Group, which is responsible for the global business development of the Louteers Group.
In 2018, Feng Qingfeng first proposed the Lotus Vision80 strategy, including the ten -year brand rejuvenation plan, that is, when the 80th anniversary of the establishment of the Land brand in 2028, the brand faces the brand directionComprehensive transformation of electrification and intelligence.Lotus also immediately became a super luxury brand "the first crab eating" worldwide.
In 2019, Lotus launched the first pure electric supercar Evija, which was priced at 21.88 million yuan; in August 2021, the Lotus Group announced the establishment of Lotus Technology, andThe global headquarters will be settled in the Wuhan Economic and Technological Development Zone; in October 2022, the first pure -electric smart SUV Eletre was officially listed, with a price of 828,000 to 10.028 million yuan.
As of now, there are 4 products under the Lotus on sale, namely the last fuel sports car EMIRA, the first pure electric supercar Evija, pure electric SUV Eletre and the latest release releasedIts first pure electric four -door high -performance car EMEYA (Chinese name: Flower).
However, although electrification is a favorable opportunity for this old super -run brand to reshape, the reality has also brought about Lotus and Geely, which have been caught up in products and brands.Dual pressure in funds and sales.
Due to the comprehensive pure electric transformation, the superposition of the brands awareness is not high, the number of models is small, and the price is high, which leads to poor sales of Luther. In 2021In 2022, the influence of the supply chain further declined to 576 units, which was obviously obvious to the Porsche gap with more than 10,000 Porsche in the same period.
In the first half of 2023, Lotus had an order of about 17,000 units worldwide, which was significantly increased compared to only 576 units in 2022.But in comparison, Taycan, a Porsche pure electric sports car, reached 40,000 units last year.
2021 to 2022, Lotuss two -year net loss reached 800 million US dollars.In the first half of 2023, Lotuss revenue increased by 98%year -on -year to US $ 130 million, but the gross profit margin declined sharply by 4.7%. The net loss further expanded to US $ 350 million, which was further increased from the net loss in the same period last year.
Although the second year after Geelys mergers and acquisitions, Geely completed a strategic investment of $ 1.9 billion in Luther. In August 2021, Weilai CapitalParticipated in the Pre-A round of financing, and in September 2022, the company completed a new round of financing of $ 4.5 billion.
But the first -level market is still difficult to support Geelys luxury supercar and Luthers rejuvenation dream.
In this context, fundraising through the capital market will be guaranteed to participate in the more intense car brand "Blood Sea" competition.And the Lotus is the opportunity.
Therefore, in January 2023, Lotus reached the final merger and acquisition agreement with SPAC LCAA, agreedAfter listing in the United States, a "supercar" was born today.
Li Shufu is at the helm, the IPO has fallen into the eight sons
The listing of Luttes has also further emerged from the capital of the Geelys helm "car madman" Li Shufu.
In 2005, Geely Motors successfully went to Hong Kong to go public, and launched the IPOs first shot for Li Shufu.Since the acquisition of Volvo Motors in 2010, he and Geely have explored a set of "models" in the automotive industry with the help of capital operation and integration of resources.
In 2016, Geely Holdings spent 1 billion yuan and acquired 29%of Qianjiang Motorcycles equity to the Qianjiang Motorcycle, which was listed on the Shenzhen Stock Exchange in 1999.After the contract was signed at the end of May of that year, Li Shufu immediately inspected Qianjiangs Qianjiang lithium battery under Qianjiang Motorcycle.Due to the tide of the development of domestic new energy vehicles and lithium batteries, Li Shufus move was also interpreted by the market as an important cause of Geelys acquisition of Qianjiang Motorcycle.
In 2020, Geelys wholly -owned subsidiary Geely Commercial Vehicle Group acquired 15.24%of the commercial vehicle heavy truck companies listed on the Shanghai Stock Exchange with 435 million yuan, and changed its name to Hanmascience and technology.The business segment of Huiling Star Horse to further supplement heavy trucks and heavy -duty -dedicated vehicles has become an iconic event for Geelys entry into the commercial vehicle industry.
In the same year, Li Shufu replaced the electricity in the same year. Geely also shot the first private passenger car company Lifan Technology.Admission new energy exchange track.
In October 2021, Volvo, a subsidiary of Geely, successfully landed on the Stockholm Stock Exchange of Sweden.On June 28, 2022, Geelys high -performance electric car brand Polestar (polar car) was listed on the bell in Nasdaq; in December of the same year, Yicong Technology stocks and equity certificates of the full stack of car computing platforms were createdFormally started trading on the Nasdaq Exchange.
Yitong Technology is jointly funded by Shen Ziyu, the deputy dean of the Geely Automobile Research Council in 2017, and established it.Capital venture capital funds (funds under China New Holdings Group) have bet.
It is worth noting that, in the same way as Lotus, Jixing Automobile and Yitong Technology are also "bought".Yicheng is the first US listed company in Wuhan Economic Development Zone.
In this way, under Her Majesty Li Shufu, Galtus has already deployed eight sons on the IPO.
But this camp is not only there.
At the end of last year, Geelys Ji Ji has also submitted a prospectus to open the market in the United States at the same time as Luther;Unicorn remote cars also reported the news of listing, but it was not officially criticized; its first pure electric pickup brand radar CFO Wang Daxue also bluntly said that "it has been considering and planned".
From the vehicle to the power exchange to the full stack of car computing platform. It can be seen that foreign mergers and internal incubation, Geely is forming a full -dimensional layout of the new energy market.The operation of capital can not only alleviate the pressure of the groups internal funds, but also allow the team to have the motivation of supercar.
The scale effect behind "Sea Sea Tactics" is regarded by Li Shufu as the basic law of the automotive industry.He once said in an internal speech that the basic laws of the automotive industry "scale winning" will not change. In the end, the number of auto industry companies in the world will not survive too much, and only enterprises can survive.
Faced with the highly competitive new energy market environment, under the helm of Li Shufu, IPOs will build the scale of auspiciousness.The first IPO of Luther, the first IPO of the flower armor, undoubtedly sounded the horn of "Super Run" for 61 -year -old Li Shufu.
