[YesAuto News] On March 19, Didi's new supply chain financial asset-backed securities (ABS) obtained a letter of no objection from the Shanghai Stock Exchange, and was approved to issue a reserve quota of 10 billion yuan. This project is a new supply in the transportation sector across the country. The first ABS in the chain is planned to issue 300 million yuan in the first phase.
As early as March 16, the corporate bond information platform of the Shanghai Stock Exchange showed that the CITIC Securities-Didi Phase [N] CP asset-backed special plan has been accepted. The issuer of this plan is Dirun (Tianjin) Technology Co., Ltd. The company's sole shareholder is Didi Chuxing Technology Co., Ltd., and its legal person is Didi Chuxing founder and CEO Cheng Wei. The company's registered capital is 10 billion yuan.
According to the information released by the Shanghai Stock Exchange, this ABS financing relies on the relevant business segments of the Didi Travel ecosystem, and uses the rental claims generated by the partner car rental companies in the business chain to rent vehicles to the drivers as the basic assets. Didi acts as the partner. Acting for the original equity holder, responsible for coordinating the leasing company, and uniformly facing the capital market for securitization financing. The funds raised will be used for partners to purchase new cars, thereby expanding the capacity of the Didi platform and driving the development of transportation and travel ecological chain enterprises.
Public information shows that the ABS financing model is a securitization financing method supported by the assets of the project, that is, based on the assets owned by the project, and guaranteed by the expected income that the project assets can bring, through the issuance of bonds in the capital market. A project financing method to raise funds.
Based on Didi's role as a platform hub, it can help partner leasing companies revitalize their stock assets to achieve financing purposes. After the project is issued, Didi’s partners, including leasing companies, can obtain convenient and low-cost funding channels.
As the world's largest shared travel operator, Didi Chuxing has reached 25 million orders per day. According to information provided by Didi Chuxing, the platform currently connects more than 21 million drivers and car owners, 450 million passengers, car rental companies, car dealers and other ecosystems, completing more than 25 million orders every day. In addition, in September last year, Didi reached a strategic cooperation with Renrenche to enter the fields of used cars, new cars, and after-sales services.
For a long time, Didi Travel has made frequent actions in the field of complete vehicles, especially in the field of new energy vehicles. In November 2017, Cheng Wei revealed in attending the United Nations Sustainable Development Forum that by 2020, Didi will develop 1 million electric vehicles in its travel network. As of the end of 2017, China had 1.8 million electric vehicles, and the number of electric vehicles in the Didi Chuxing network reached 200,000.
In order to further promote the realization of the target, Didi Chuxing is speeding up cooperation with automakers. In March of this year, Didi Chuxing and BAIC Group signed a strategic cooperation agreement to jointly promote the operation of new energy shared vehicles. Prior to February 7, Didi Chuxing announced that it has cooperated with BAIC New Energy, BYD, Changan Automobile, Dongfeng Passenger Car, Dongfeng Yueda Kia, Huatai Automobile, JAC, Geely, Renault-Nissan-Mitsubishi Alliance, Chery, China FAW, and Zotye New Energy. Energy 12 car manufacturers reached a strategic cooperation to jointly build a future-oriented new energy shared car service system.