I love EV companies since a few years ago. Tesla and BYD teach me a lot about the knowledge of the electric vehicle, from design to materials choices, from the power of the engine to the special ingredients of battery technologies. it is a great journey which I passed with gaining the education with EV. However, $恒大汽车(00708)$ China Evergrande showed me totally another side of the business model.
For 4 HKD to the highest price 46 HKD. Is it crazy? Actually No! The nuts are not about the price of the stock, it is about the fuzzy information that the company released since the code 0708 transfer from a healthy product company into an Electronic Vehicle firm!
Amazing! From this point of view, you can understand how much desire that the company wants cash more than anything else.
6 protocol electronic vehicles released at the same time without any production line exist. Woo, currently they target the number one EV brand in China and challenge Tesla's global position! WOOOOO! I can't believe my eyes, and there are thousands of people who believe that. the funniest thing is my father is one of the China Evergarnde EV funs.
There is no detailed parameter about the EVs, it seems the company bought everything from other small EV firms in Europen countries, and the most important parts of the EV is the battery technology and the autopilot technology, who are they going to partner with for the EV batters? where is the company going to get the data of autopilot? it is only a beautiful shell!
I am not saying that the stock‘s price of the company will be fallen down. or it is maybe I don't know as much as the information compares to the insiders. I would like to look at the detailed information before I have more investment movements. Yes, The price of the stock may be boosted a lot at that time, but it is not as risky as now.
I sold major of my 0708 which my dad's lover yesterday at 41HKD to 43HKD. I only keep 500shares and let's what is going on later.