Shanghai (ZXZC)- Zhengzhou Haima New Energy Technology Co., Ltd., (“Zhengzhou Haima”), a subsidiary indirectly wholly owned by Chinese automaker Haima Automobile Co., Ltd. (“Haima”), recently saw its registered capital rocket 9,183.3% to 557 million yuan ($87.59 million), according to the corporate database Qichacha.

Incorporated in 2021, Zhengzhou Haima is permitted to sell automobiles, including new energy vehicles (NEVs), and research and develop auto parts. The recent surge in registered capital marks Haima's attempt to step up the development of NEV business.

Haima 7X; photo credit: Haima

Haima said its annual net profit attributable to shareholders was forecasted to reach 80 million yuan ($12.58 million) to 120 million yuan ($18.87 million) in 2021, skyrocketing from a yearly net loss of 900 million yuan ($141.527 million) to 1.35 billion yuan ($212.291 million) for the year of 2020.

The automaker added that the blooming growth mainly stemmed from the hike in the full-year sales of the Haima 7X, which hit the market in August 2020, and the export volume. Besides, the impact of certain non-recurring gains and losses is likely to cause a net profit of around 550 million yuan ($86.489 million) in 2021, which mainly flowed from the equity interest transfer, governmental subsidies, as well as the debt restructuring.

Haima is vigorously pushing ahead with its transition towards the NEV field, especially the fuel cell vehicle (FCV) sector. In January 2020, the automaker debuted in Hainan the 7X FCV's prototype, which boasts a range of over 800km on a full hydrogen refueling. In November last year, the company announced that it had completed the building of the experimental facilities used for both water electrolysis hydrogen generation and high-pressure hydrogen refueling.