Until the "seven-year itch," Changhe Automobile and Changan Automobile Group have already chosen to "participate." After only one month of “breaking upâ€, Changhe Automobile once again selected the object – Beiqi Group, which is adjacent to Chang’an in China’s automobile rankings.
According to an announcement issued on Monday, after the reorganization, BAIC will hold 70% of Changhe shares, and the remaining 30% will still be held by Jiangxi State Control, the new custodian of Changhe Auto.
Beiqi invests 13 billion into Changhe within 4 years
It is understood that Changhe Automobile, which originally belonged to the military’s central enterprises, has been controlled by Jiangxi Province’s state-owned enterprise asset management (Holding) Co., Ltd. (hereinafter referred to as “Jiangxi State Controlâ€) after its recent partnership with Chang’an Automobile Group. According to the reorganization agreement signed last week, Jiangxi Guohua will transfer 70% of its shares in Changhe, Jiangxi, to BAIC through an agreement, and the remaining 30% will still be held by Jiangxi State Control.
Both parties did not disclose the price of the reorganization last week. It is reported that this time BAIC only paid an ultra-low purchase price of 80 million yuan, but this claim was denied by BAIC. BAIC stated that it will accumulatively invest approximately 13 billion yuan in Changhe as of the end of 2017, achieve an annual vehicle production capacity of 500,000 vehicles, and achieve an annual operating income of 50 billion yuan in the entire industry chain, which will drive the rapid development of automobile service trade and auto finance. development of.
With further development, BAIC will continue to expand the industry scale of Changhe Automotive. "By the end of 2020, the two sides will accumulatively invest 27 billion yuan in the Changhe project to achieve an annual production and sales capacity of 1 million vehicles and an engine capacity of 900,000 engines." At the signing ceremony, Beijing Automotive Group chairman Xu Heyi stated that BAIC will use Changhe in the future. The establishment of a new joint venture base and a strategic base for self-owned brands will enable Changhe to achieve an annual production and sales of 1 million complete vehicles, achieve an annual operating income of 100 billion yuan in the entire industrial chain, and enter the “millions of billions†enterprise level. Changhe will also become an important support for BAIC's production and sales scale to enter the top three of the domestic automotive industry.
Jiangling and other companies have participated in bidding
Changhe Automobile, once affiliated with the China National Aviation Corporation, was a company that was transformed from Changhe Aircraft to Military in the 1970s. In November 2009, its parent company, China Aviation Industry Corporation, held its 23% stake in Changan Automobile Group, and transferred its auto assets, such as Hafei, Changhe and Dongan Power, to the Changan Automobile Co., Ltd. under China Weapons Group. group. However, the two military companies with the same background did not achieve the desired goal of becoming bigger and stronger after the reorganization. On the contrary, because they were dissatisfied with Chang’an’s “short promise†and the treatment gap after Chang’e’s “separationâ€, Changhe Automobile In the past year, fierce contradictions broke out as a result of opposition to the transfer of passenger car production qualifications. In the end, under the coordination of local government, Changhe Automobile officially separated from Changan Automobile Group and became a wholly-owned provincial enterprise in Jiangxi Province.
It is understood that in October this year, approved by the State-owned Assets Supervision and Administration Commission, Jiangxi Province will recover all the equity, qualifications, brands, products, and production capacity of Changhe Automobile and actively seek strategic partners to enlarge and strengthen the Jiangxi automobile industry. A number of car executives revealed to reporters that just before the signing of the agreement between BAIC and Changhe, Jiangling, Ford, SAIC, Dongfeng and other companies had contact with Changhe, but in the end, the local leader chose Beijiao, which is more familiar and convenient for exchanges. group. "The main reason for giving up Jiangling and Ford is to consider that they have close cooperation with Chang'an," a source said.
Continue to cooperate with Suzuki
In the eyes of Changhe insiders, the outcome of the cooperation with BAIC in the future depends not only on BAIC's input, but also on rationalizing its relationship with Suzuki. In view of this, BAIC stated that the reorganized Changhe Automotive will adopt the Beiqi Group's dual-brand platform model, the introduction of the Japanese Suzuki strategy model, the joint Suzuki brand new model, and the upgrading of existing products in four ways to fully upgrade the product level and achieve a balanced development. , Autonomous two major product systems, covering from B-class cars to mini cars, from cars to SUV, MPV full range of product lineage.
However, industry analysts believe that Suzuki, which has a shortage of product lines and unclear strategy in China, will face strong pressure from Changan, and it will be difficult to watch the prospect of “one support and two†in the future. At the Guangzhou Auto Show held last week, Changan Suzuki, who participated in the exhibition with Suzuki China, announced that Suzuki Suzuki, who has always attached importance to the southern market, was rarely seen absent at the time of releasing SX4S-CROSS. Suzuki China’s general manager explained in an interview to this reporter that Changhe Suzuki will exhibit new models at the Beijing Auto Show next year after he missed the Guangzhou auto show because he had no new models.
related news
Changhe Hefei base belongs to Chang'an
Changhe Automobile, which received much attention, was reorganized and ended with the results of BAIC. The reporter learned from the inside that Changhe Automobile finally left the Hefei base for Changan, but Changhe Automobile and Changhe Suzuki. Two vehicle production qualifications are retained.
The reporter learned that Changhe Automobile had a listed company, two car production qualifications and three major production bases before the reorganization in 2009. In the year before it was assigned to Chang'an, Changhe Automobile's assets were withdrawn from the listed company - Changhe shares, Changhe Auto's own brand and Changhe Suzuki joint venture brand and their respective car production qualifications, and Jingdezhen, Jiujiang and Hefei three industrial bases. All packages are transferred to Chang'an. After the reorganization, Changan once planned to integrate Changhe Suzuki and Changhe Suzuki in the two production bases of Changhe Suzuki in Jingdezhen and Jiujiang, and Hefei base divested its qualifications to Changan Mazda, and became Changan Automobile's mini vehicle production base. Subsequently, a series of contradictory events frustrated the Chang’an plan and resulted in the failure of the restructuring that took four years to run.
In the subsequent process of asset division, Jiangxi Province retained two industrial bases, namely Jingdezhen and Jiujiang in Changhe, and the Hefei base was left to the local government. The local government signed a strategic cooperation agreement with Changan. However, Changhe Automobile's auto production qualification at the Hefei base was returned to Changhe. According to information released by Changhe Automotive last week, the two industrial bases it retained currently have a capacity of 270,000 complete vehicles and 150,000 advanced small engines, and employ approximately 5,000 people.
Reporter observation
BAIC will challenge Changan to compete for the fourth
The merger and reorganization of the automobile industry has always been a policy-oriented and general trend. As the pillar of Beijing's industry, BAIC hopes to use this policy to make it more frequent to catch up. From several months ago, Beiqi Group Chairman Xu Heyi’s reorganization plan unsolicited in an interview and the second automobile company’s smooth bagging today, BAIC has now completed many projects in Chongqing, Guangzhou, Yunnan, Zhenjiang, and Jiangxi. Takes a regional restructuring. Xu Heyi stated frankly that with the reorganization of Changhe, BAIC's industrial layout in the country has basically been completed, and it is making efforts to enter the first camp of domestic auto makers to challenge Changan Automobile Group's fourth position in the industry.
According to the statistics of the China Association of Automobile Manufacturers, from January to October this year, Chang'an sold 1.8371 million vehicles, which is 183,300 more than that of Beiqi that followed. After this time from Changan's hands to “grab†to Changhe, BAIC has one more competition weight. It can be expected that under the premise that there are still significant distances between the upper and lower levels, there will be fierce competition between BAIC and Changan in the next few years.
However, after witnessing the failure of Changan's reorganization, it remains to be seen how Beiqi will let the reorganized Changhe play its due role. Although the reorganization of Changhe was no longer the same as four years ago, its general manager was only informed one week before the signing of the contract, but actively participated in it. However, the government-dominated image that also flashed, and Changhe’s own military enterprise culture in a short period of time. It also requires tough running-in. Perhaps it is only “taking it as its own†instead of simply treating the restructured target as a way to fill its strategic shortcomings so that failure can no longer be repeated. Only in this way can BAIC truly further optimize its product line and achieve its strategic goals.
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