"Slow Effort" in "Extreme Krypton Speed": Technological Innovation Driving Double Leaps of Products and Brands
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发表于 2024-5-24 17:11:22
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37 months of IPO, new car making forces, backed by Geely Holding Group... Every profile of Jike is enough to attract attention.
As a new automotive force born in April 2021, Jike has broken the IPO record of Chinese new energy vehicle companies with its 37 month listing speed. It not only demonstrates its strong strength and keen market insight, but also reshapes people's understanding of the new energy vehicle industry. The sales champion position of the Extreme Krypton 001 model in the pure electric market of over 250000 yuan highlights its product's intelligent manufacturing power and competitiveness.
The development of Extreme Krypton is not only a victory in speed, but also a manifestation of independent technological innovation and market competition strategy. Behind its success lies the perfect combination of "fast-paced" and "slow kung fu" of this brand. The fast-paced approach has brought about rapid progress and market share expansion, while the slow paced approach has improved the quality and efficiency of development, ensuring the long-term stable development of the enterprise. It is precisely this unique balance that enables Jike to overtake in the fiercely competitive market environment, demonstrating the infinite possibilities of the future of the new energy vehicle industry.
Fast and slow: Polishing products to solidify internal driving force
In the wave of the electric vehicle era, Jike is a special presence.
It was born in the era of China's rapid transformation towards electrification of automobiles, incubated by Geely Holding Group, one of China's most technologically powerful car companies, and took three years to complete the leap from brand establishment to IPO.
Jike has inherited the technical accumulation and global resources of Geely Holding Group for many years, carefully polished the ultimate product strength, and achieved the brilliant achievement of "first release and explosive product".
Slow work on the fast lane is considered by the industry as the ultimate way to win. Quick refers to the keen insight and quick response of Jike to market dynamics. In today's rapidly changing and fiercely competitive new energy vehicle industry, Jike has always kept up with the market pulse, put users at the center, and launched new products that meet consumer needs. From the first generation model of the Extreme Krypton 001 to the new generation 001 today, each evolution has condensed the wisdom and efforts of the Extreme Krypton team, demonstrating its outstanding ability in technological breakthroughs and product detail optimization.
And being fast does not mean blindly pursuing speed and scale expansion. While pursuing speed, Jike also creates every product with a spirit of craftsmanship. As a flagship product, the Jike 001 has undergone technological breakthroughs and product detail optimization, becoming the champion model in China's high-end pure electric market and breaking multiple records in the new energy industry. Whether it is its excellent pure electric endurance, performance handling, safety performance or innovative technology, the Jike 001 is a culmination of the Jike brand's forward-looking technology.
For example, the Geely Krypton 001 first launched a 140 degree Kirin battery, with a pure electric range of 1032km, ranking among the world's top mass-produced pure electric vehicles. At the same time, 001 also received the highest rating from China Automotive Research and Development Corporation, setting a record for the highest auxiliary safety score; Create five world records and become the only "Guinness Five Crown" in the field of pure electricity. It is worth noting that as a "muscle showcasing" product of the Jike brand, the Jike 001 FR is in line with AMG, a subsidiary of BBA M-series RS and other performance control champions are positioned similarly, equipped with the world's first mass-produced and delivered four motor distributed electric drive, with a zero to hundred acceleration of 2.02 seconds; The world's first ZVC four-wheel torque vectoring control black technology allows tanks to turn around without bumping on the road. At the same time, it is also the world's first vehicle model to achieve mass production of satellite communication technology. In the past three years since its release, the Extreme Krypton 001 remains the most competitive product in the market. The new 001 continues the design and appearance of the 001 FR, and is equipped with an 800V high-voltage system throughout the series, achieving over a thousand evolutions and further enhancing product strength.
Faced with the challenges faced by new energy vehicle companies under multiple pressures such as price wars, expensive batteries and chip shortages, and declining subsidies, Geely has relied on Geely's technological accumulation and resource advantages to quickly build a pure electric intelligent technology ecosystem, forming a unique "Geely model". The SEA vast architecture launched by Jike enables it to efficiently develop and produce highly competitive vehicle models. Thanks to the progressiveness and versatility of the architecture, Krypton has achieved rapid replication and iteration of multiple models. Five Krypton models have been launched within three years, setting an industry benchmark.
New and Old: Opening a New Stage in the Market and Industry
To some extent, technological breakthroughs and product updates also signify the opening of a new stage in the market and industry.
From the analysis of existing securities companies, it can be seen that the capital market has a relatively optimistic outlook on the future development of Jike. Dongfang Securities, Dongwu Securities, Minsheng Securities, and others have all put forward the view that the sales of Jike may continue to rise in recent months in related company research.
Behind the record breaking 37 months is the accumulation of 37 years of entrepreneurship of Geely Holding Group, the parent company of Jike.
Geely Holding Group has witnessed the independent innovation and self-development of the entire Chinese automotive industry. As a member of a national brand, Jike is the culmination of Geely Holding Group's understanding of the automotive ecosystem and global resource integration. Unlike traditional car manufacturing and new power models, Jike has achieved rapid evolution of intelligent pure electricity and opened up the "third track" of pure electricity development.
Based on Geely's solid industrial foundation and global advantageous resources accumulated over the years, compared to other startups, Jike has advantages that are difficult for new forces to achieve in terms of human resources investment, project funding, equipment research and development, and production management.
It is thanks to Geely's strong system and its own differentiated strategic approach that Jike has embarked on an unusual path for the development of new energy vehicle companies. "JiKr is built on the entire Geely platform, with multi resource support and technological accumulation, and has the ability to do the most difficult things." An Conghui, President of Geely Holding Group and CEO of JiKr Intelligent Technology, frankly stated that JiKr is not from scratch, but is built on the entire "Big Geely" system, forming a strong foundation for electrification and intelligence, as well as the ability to manufacture complete vehicles.
Relying on the accumulation of Geely Holding Group in the supply chain field, and sharing R&D costs and marketing resources with Geely's brands, the speed of the "design R&D mass production delivery" process is extremely fast, leading traditional car companies and new car making forces, and can also deliver a more beautiful financial data in a shorter time.
The competition between car companies is not only about funding and support, but also about insights into the future.
Li Donghui, CEO of Geely Holding Group, recently stated that Geely's positioning as a luxury intelligent pure electric brand is an important part of Geely's electrification, high-end, and globalization. "Geely's IPO is a microcosm of Geely Holding Group's overall strategic planning. With electrification and intelligent transformation as its core, Geely has strategically laid out in cutting-edge technology fields such as new energy technology, human-computer interaction, intelligent driving, vehicle chips, and low orbit satellites, providing strong support for the growth of its sub brands."
Point and Face: "Hot selling" and Comprehensive Development of Diversified Services
Hot selling item, it is a label of extreme luxury. In 2022, Jike achieved annual delivery of over 70000 units with the Jike 001 model, making it the only mainstream brand of new energy vehicles to achieve its goals.
As of May 20, 2024, delivery has only been 31 months, and the cumulative delivery of Jike has exceeded 250000 units, continuously breaking the record for new force brand delivery.
On this basis, every product under Jike has become a hit. The five models of Jike 001, Jike 009, Jike X, Jike 007, and Jike MIX have become benchmark products in the segmented field. According to the monthly domestic insurance data of China Automotive Center, the monthly sales of Jike 001 reached 11729 units in April, becoming the sales champion in the pure electric market with over 250000 yuan. This achievement not only demonstrates the strong market competitiveness of the Jike brand, but also reflects the strong demand of consumers for high-end pure electric vehicles.
Opening the prospectus, it is not difficult to find that Jike's revenue growth is rapid, not only due to its stable foundation in vehicle sales, but also due to its revenue system consisting of three electric technologies, research and development services, and other diversified business structures, demonstrating the company's balanced and comprehensive development capabilities in various business areas.
Unlike other new car making forces that rely solely on a single income, Jike's business areas are quite diverse. According to the prospectus, the revenue structure of Jike can be basically divided into three businesses, including vehicle sales, three electric business, research and development, and other services. In 2021, 2022, and 2023, the revenue of three electric business, research and development, and other services were 4.983 billion yuan, 12.228 billion yuan, and 17.761 billion yuan, respectively. Compared to traditional automobile manufacturers, Jike's revenue structure is more diversified.
In terms of gross profit margin, the gross profit margin of Geely Krypton vehicles will reach 15% in 2023. It should be pointed out that during the initial period of 2021, the gross profit margin of Jike was positive. In 2023, the release of multiple products has driven an increase in factory utilization, diluted depreciation costs, and ultimately achieved an increase in annual gross profit in the manufacturing sector. Additionally, The support of SEA's vast architecture also helps Extreme Krypton to quickly launch new models and product iterations, and form economies of scale to reduce costs.
Once a seed is sown, it has the power to break through the soil. Although Jike is still in its early stages, based on core financial indicators such as revenue and gross profit margin, Jike has the potential to become the most promising global automotive technology company.
Internal and external: Carrying the dual mission of high-end and globalization
With the arrival of the era of automotive intelligence and electrification, profound changes are taking place in the industry.
From an internal perspective, Jike shoulders the heavy responsibility of high-end Chinese new energy vehicle brands. Jike is positioned as an innovative automotive technology company in the high-end pure electric market, rather than a traditional car manufacturer. For Geely, Jike is an important force in entering the field of intelligent electrification and seizing market opportunities. Geely has demonstrated its strength in new energy vehicle technology, intelligent driving, vehicle networking, and other fields through its extremely competitive performance, while also enhancing its brand value and market competitiveness.
For the entire industry, the emergence of Jike has driven the innovative development of the new energy vehicle industry. Its positioning in the high-end pure electric market and continuous investment in intelligent and electrified technologies have led the industry's technological trends and market demand.
The Extreme Krypton brand also lived up to expectations. Through breakthroughs in core technology, ultimate craftsmanship in product quality, continuous iteration and optimization of mathematical intelligence capabilities, and comprehensive layout of industrial ecology, we continuously break records one by one.
According to the prospectus, from 2021 to the end of 2023, Jike has invested nearly 17 billion yuan in research and development. Among them, the R&D investment in Extreme Krypton in 2021, 2022, and 2023 was 3.16 billion yuan, 5.446 billion yuan, and 8.369 billion yuan respectively, with R&D investment continuously increasing year by year. Jike stated in its prospectus that, Approximately 45% of the net proceeds from the IPO will be used to develop more advanced pure electric vehicle technologies and expand product portfolios; About 45% will be used for sales and marketing, as well as expanding service and charging networks; About 10% will be used for general corporate purposes.
It is precisely this perseverance that has enabled Jike to win widespread recognition from consumers and become a key force for China's new energy vehicles to challenge high-end development and move towards world-class brands.
The determination and action to "go out" are innate traits in the genes of Jike.
After landing in the capital market, Jike will have a broader perspective and stronger capital strength, providing a solid foundation for the implementation of its internationalization strategy. Within this year, not only will it enter the luxury markets of 8 European countries, but it will also enter markets in 50 countries and regions such as Southeast Asia, the Middle East, South America, and Australia, accelerating its globalization strategy comprehensively.
In July 2021, Geekrypton acquired CEVT (China Europe Automotive Technology Center) with a wholly-owned investment. It has rich technical experience in cooperation between Volvo and Geely for many years. At present, Geekrypton has six R&D centers in the world: software Internet center, intelligent driving center, electronic and electrical architecture center, intelligent architecture center, new energy development center and design center, and three vehicle product teams.
Extreme Krypton is actively expanding its global R&D team, with the core business of its Shanghai Intelligent R&D Center covering intelligent cabins, digital cabins, software electronics, and other fields. It is an important pivot for Extreme Krypton to build its intelligent software and hardware full stack self-developed capabilities, and will win more development initiative for the intelligent era.
The achievement of each milestone signifies a new departure. The speed of transformation in the century old automotive industry is being redefined, from the game rules of the industry chain to the form of product terminals. Every company hopes to obtain admission tickets to a new and vast market. For Extreme Krypton, logging into the capital market is a brand new beginning. In the future, Chinese new energy vehicles such as Geely Krypton will play a more important role in the huge market transformation and make greater contributions to the sustainable development of the global automotive industry.
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声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
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