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On the evening of July 30th, Beijing time, Ideal Motors (NASDAQ: LI), an innovator in China’s new energy vehicle market, today announced its initial public offering of 95 million American Depositary Shares (“ADS”). ) It is priced at US$11.50 per share, making it the second listed company among the new forces in China to make cars. Ideal Auto has also become the first IPO project harvested by Shanxing Capital, which has travel genes, in the five years since its establishment.

HIKE Capital was established in December 2015 as a fund for entrepreneurs in China. The founding partners are Chehaoduo Group, Ganji.com founder Yang Haoyong, and Netease News APP founder Xu Shi. As an entrepreneur’s fund, Shanxing Capital has a venture partner team composed of multiple first-line entrepreneurs to help entrepreneurs connect with core contacts and resources, and accompany entrepreneurs to continuously break boundaries. Shanxing manages early and growth stage funds, covering Pre-A to C round projects, focusing on new technologies and new consumption. As a new unicorn catcher, Shanxing Capital has invested in Guazi Second-hand Cars, Ideal Cars, Flash Delivery, RELX, Baby English, Spark Thinking, Whale Foreign Teacher Education, Graphite Document, and downstairs companies.

Yang Haoyong said, “Li Xiang’s understanding of the automotive industry and determination of the ideal car, no one in China can do better than him. Good products come with their own traffic, and ideal car fans are also expected. In the long run, the ideal to become China’s No. 1 smart electric vehicle company and the world’s largest autonomous driving operator are both ideals that are very likely to be realized in the near future. Shanxing Capital will continue to provide support to the ideal. And actively assist in coping with all the challenges that may arise in the development. Once again, I wish the ideal car’s successful listing and its momentum will grow red.”

Yang Haoyong said, “Li Xiang’s understanding of the automotive industry and determination of the ideal car, no one in China can do better than him

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I

In October 2017, Shanxing Capital and Yang Haoyong invested hundreds of millions of dollars in their ideals. For car building, Haoyong kept recommending investors to Li Xiang, such as Zhang Ying, a friend of many years and the founding partner of Matrix Partners China. Reached a consensus on products and people, participated in the investment of Ideal Auto, and became a rotating director. Subsequently, in early 2018, Shanxing Capital again added Ideal Car. After the investment, Shan Xing kept helping Ideal do the following work. From helping find money to discussing strategy, Hao Yong enjoys the interaction with the founder.

“Li Xiang was originally a top entrepreneur, and he can inspire each other when communicating. He focuses on building a good car. I want to focus on the entire industry and provide different ideas and references from the perspective of the entire travel industry chain. “Hao Yong said, “Seeing far, investing in, and helping. This is the persistence of Shanxing.” The car-making section is one of the indispensable territories of Shanxing’s big travel circuit. Since its establishment, Shanxing has been branded with the label of “travel”. Not only the founding partner Yang Haoyong is the founder of Chehaoduo Group, but also based on Shanxing’s in-depth research on the travel industry. China has the largest automobile consumer market, covering manufacturing, automobile trading, supply chain, auto finance, car networking and after-cars, etc. However, the degree of digital transformation or technological participation in China’s travel industry chain has just begun , Industrial changes will bring about an industrial explosion.

II

As a two-round investor in the ideal car, the founding partner Hao Yong was deeply moved when he had only DEMO and Li Xiang’s description in the early days. The two natural entrepreneurs resonated with the world of future travel. In addition to the confidence in the future of the new forces of car building, a large part of the confidence in the ideal comes from the confidence in the founder and the team. Li Xiang, the founder of Ideal Auto, is an entrepreneur and innovator in China’s auto industry. Although born in the 1980s, Li Xiang has already had two successful entrepreneurial experiences: Paobao.com and Autohome. After the successful listing of the car home that will lead for 8 years in 2013, Li Xiang once again chose to start a business in July 2015.

As the earliest Chinese users of Tesla Model S, Li Xiang realized that electric vehicles are the future trend. Therefore, it is Li Xiang’s ideal to create electric travel tools that meet local needs for Chinese users and become a future automobile intelligent transportation service provider. This time, Li Xiang chose the “hell mode” of entrepreneurship-building a car. Yang Haoyong believes that Li Xiang is an entrepreneur who understands the car industry best in the Internet industry and Internet technology in the car industry. Under his leadership, the team integrates top talents from the fields of automobiles, Internet, and electronic technology. And has super strong learning ability and evolution ability. Opportunities are for those who are ready. Li Xiang has always been prepared for the difficulties of building cars, and even insisted on independent research and development and self-built manufacturing bases at the beginning. He invested 5 billion yuan in Jiangsu Changzhou to build a production base of 300,000 vehicles, and put it into operation at the end of 2017 produce. However, some new car forces that had invested a lot of money in the past died after the drawings and before mass production.

III

From the strategic goals to the business structure, to the organization and the distribution of financial resources, the core consensus of Li Xiang and the ideal team is: We must spend all “snowball” money, and “snowball” is high-quality expansion. Corresponding to the technical nodes to be realized, Ideal Car invests a lot of resources in self-research and hardware additions, including self-developed domain controllers and autonomous driving operating system Li OS, imitating Tesla’s introduction of shadow mode, introducing neural network architecture and high-precision maps Mission etc. Li Xiang said in the middle-level sharing on Snowball Online, “50% of our money is spent on research and development, and about 30% of our money is spent on factories. Up to now, it is estimated that less than 20% of the money spent. % Of the money is in people and marketing.”

Ultimate efficiency means the efficient evolution of organizational capabilities. As of June, the average sales of an ideal single store is three times that of its friends, reaching 87 vehicles per store in 21 stores. The number of employees including factory blue-collar workers is only 3,000, while the number of friendly businessmen exceeds 6,500, excluding blue-collar workers. At the same time, Li Xiang is also a famous “pull”, and his money is spent on the “knife edge.” It is with this attitude and ability that its gross profit margin is also leading the industry. The gross profit margin in the second quarter increased from 8% in the first quarter to 13.3%. Become the first new car company to realize self-hemopoiesis.

Yang Haoyong said, “Li Xiang’s understanding of the automotive industry and determination of the ideal car, no one in China can do better than him. Good products come with their own traffic, and ideal car fans are also expected. In the long run, the ideal to become China’s No. 1 smart electric vehicle company and the world’s largest autonomous driving operator are both ideals that are very likely to be realized in the near future. Shanxing Capital will continue to provide support to the ideal. And actively assist in coping with all the challenges that may arise in the development. Once again, I wish Ideal Motors a successful listing and its momentum will grow. I sincerely look forward to the success of the mountain brothers.

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