Dongfeng Motor-backed VOYAH discloses capital increase project

Beijing (Gasgoo)- VOYAH, the premium new energy vehicle subsidiary of Dongfeng Motor Group, announced the company’s first-ever capital increase plan via external equity.

Photo credit: VOYAH

The funds raised will be put to support VOYAH’s strategic development, elevating its market competitiveness. The automaker plans to use the proceeds for advancing its main business.

According to the Shanghai United Asset and Equity Exchange, VOYAH’s operating revenue amounted to RMB1.767 billion ($261.78 million) in 2021, resulting in a net loss of RMB706 million ($104.59 million). In the first half of 2022, the automaker saw its revenue sum up to RMB1.887 billion ($279.55 million), amounting to a net loss of RMB738 million ($109.33 million).

By the end of June, VOYAH reported a gross asset value of RMB7.413 billion ($1.1 billion), with RMB6.529 billion ($967.23 million) in debt. Meanwhile, its owners’ equity amounted to RMB883 million ($130.81 million). The company’s asset-liability ratio stood at 88.09% by June 30th, 2022.  

In the first seven months of 2022, VOYAH sold a total of 8,671 vehicles. On August 2nd, the automaker said that the delivery volume of its second production model, the Dreamer MPV, has exceeded 1,000 units. Delivery of the Dreamer kicked off on July 16th.