Strong capital, but no independent model or even brand control
The opening of this reorganization drama took place in early May of this year. Jing Zhu, the chairman of Hainan Automotive Group Co., Ltd. (hereinafter referred to as SAIC Group), came to Zhengzhou City to negotiate and reorganize Zhengzhou Light Automobile. Now that two months have passed, there has been no climax to the outside world. The reason, according to informed sources, said: The two sides are undermining secret talks. However, this seems to be a wait for the outcome of Zhengzhou Light Vehicle Manufacturing Factory (hereinafter referred to as Zhengzhou Light & Steam).
According to informed sources, according to the plan, before June of this year, the state-owned Zhengzhou Light-duty Auto will complete restructuring, and on this basis, the SAIC Group will implement its restructuring. According to the current situation, the restructuring has not yet been completed. This will also be destined to be a very low-key restructuring.
On the matter of the restructuring of Zhengzhou Light and Steam by the SAIC Group, the reporter called the Zhengzhou Municipal Development and Reform Commission. A relevant person in charge told the reporter that the city has set up a leading group specifically for this purpose. The two sides are in contact, but the relevant circumstances, the city has regulations, I can't say that.
However, in the industry, there is a saying that in early May of this year, SAIC Group has already reached a reorganization agreement with Zhengzhou Light-duty Auto, SAIC Group will be responsible for the design of models, Zhengzhou City Government as soon as possible so that the SAIC Group successfully registered in Zhengzhou, And complete the related project park planning program.
The data shows that the predecessor of SAIC Group was a Hainan auto repair shop. In 1988, the company introduced a foreign production line and set up a Hainan automobile factory. By 1992, the introduction of the M azd a model had been unable to solve the problem of car catalogs. In 1997, relevant parties in Hainan Province solved the problem by making free transfer of state-owned assets to promote the establishment of FAW Hainan Automobile Co., Ltd. with SAIC Group and FAW Group.
Zhengzhou light steam was built in 1948 and belongs to the national sophomore company. In 1988, the company scored twice and set up a joint venture with Shuanghua Automobile to establish the Dongfeng Automobile Industry Association Zhengzhou Light Vehicle Manufacturing Plant and later renamed Zhengzhou Light Vehicle Manufacturing Plant. In 1997, it was controlled by CITIC Zhongyuan Automobile Co., Ltd., a subsidiary of China International Trust and Investment Corporation. At present, it mainly produces ASIA passengers, trucks and chassis, dump trucks, and transport vehicles. Its business scope covers automobile manufacturing, automobile modification and Auto Parts manufacturing, and basically has the production capacity of 10,000 vehicles per year.
Analysis of the industry, it is precisely because Zhengzhou light steam has this congenital conditions, and has a ready vehicle license, so the SAIC Group favored it.
According to statistics, the registered capital of FAW Haima Automobile Co., Ltd. is RMB 1.2 billion, the share ratio of FAW Group, SAIC Group and Hainan Government is 49:49:2. Its assets are from FAW Hainan, Hainan Mazda Sales Co., Ltd., and Hainan. Automobile Manufacturing Co., Ltd. integrates all vehicle production and operation assets and related businesses. However, according to the agreement, the right to receive revenue from the FAME Haima Automobile Co., Ltd.'s flagship model, the US-based Automaker, is still owned by Haiqi Auto Sales Co., Ltd., which was established in 1996.
A market analyst analyzed that there is strong capital strength, but there is no independent model, and even can not control the brand, which is the embarrassing situation that the SAIC Group has long been facing after the joint venture.
For SAIC Group's reorganization of Zhengzhou Gas, industry sources said: Zhengzhou's automobile industry already has Yutong buses and Nissan Nissan pickups and SUVs, but it lacks cars. If this reorganization is successful, SAIC Group can integrate its entire vehicle project into Zhengzhou Light & Gas, which should be an important performance of Zhengzhou City in further promoting economic restructuring and industrial restructuring. It is not difficult to see that Zhengzhou City has paid s hard work.
Previously, according to media reports, there were two plans for this reorganization. First, the restructured Zhengzhou light steam was sold directly to Hainan Automobile. The second is Hainan Automobile's investment in Zhengzhou light-duty in the form of capital, technology and other forms. According to insiders, related parties in Zhengzhou City tend to adopt the first plan.
Some people in the industry believe that no matter what type of restructuring is adopted, it does not seem so important at present. A market analyst who had been close to the SAIC Group analyzed: SAIC Group may hesitate to come to Zhengzhou. Judging from the actual situation, there is currently no vehicle project in Zhengzhou, and FAW Group may not be able to bring in a complete vehicle project. However, it is also possible to do auto parts projects and cooperate with Zhengzhou Light & Gas. The automobile and parts industry in Zhengzhou is in a period of development and there are also certain investment opportunities.
Industry insiders said that if SAIC alone can not come to Zhengzhou, it is also likely to join with other car companies to enter Zhengzhou, so as to use the resources of Zhengzhou light steam to reduce the entry barrier.
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