On Monday, Chengdu Business Daily reported exclusively on "Guanghui's first response to the merger and acquisition of Shenrong Incident," which sparked heated discussions in the industry. In the downturn of the auto market, Shen Rong Motor --- the capital of the representative car dealers in the Sichuan auto market is naturally the focus of the focus. Despite the efforts of the Chengdu Daily News reporter, the M&A parties are still reluctant to disclose more details; at the same time, the industry’s hot argument is that after Guanghui’s acquisition of most of Shenrong’s shares with huge amounts of money, As the two largest shareholders of Shenrong Auto, will Wang Changyu and Cao Chuandide become the “winners†of the auto market in Sichuan?
Did he sell all the shares outside Shanghai Volkswagen Store?
Wang Changyu
â– Chairman of Shen Rong Automobile
In 1993, the 46-year-old Wang Changyu abandoned the iron rice bowl to start the "Shanghai Dazhong Chuanrong repair station" and started to develop. It is rumored that he will sell all shares except the Shanghai Volkswagen Store in the transaction. One is the feeling of starting a business, and the other is keeping a "blood" for the old Shen Rong.
In the winter of 1993, when 46-year-old Wang Changyu resolutely resigned from the iron rice bowl and resigned from the sea, he set up the "Shanghai Dazhong Chuanrong Service Station" by himself. The "Shenrong Motor", Sichuan's most powerful group distributor, opened. The prelude to the rapid development of 18 years.
The fate with Shanghai Volkswagen
Shanghai Volkswagen was an important reliance for Wang Changyu. His first four stores (later merged into two 4S stores) were the agents of the brand. Wang Changyu recalled when he was interviewed by the media. At that time, “Chuan Rong†and Shanghai Volkswagen also had Holds 20% of shares. Later, when explaining the "Shen" word in the Shen Rong Group, Wang Changyu once admitted without heditation that it was derived from "Shanghai Volkswagen." In fact, at that stage, Shanghai Volkswagen had another layer of “help†for Wang Changyu and Shen Rong in terms of capital accumulation: According to sources close to Wang Changyu, at the time Shanghai Volkswagen had to establish repair stations in other parts of Sichuan. It is through Wang Changyu's search for partners, and according to the agreement, he will always participate in 20% of the shares. This also laid the foundation for Shen Rong to step out of Chengdu and lay out the markets in Deyang, Meishan, Yibin and Quzhou.
Building a shop, making money, building a second store, making money, building a third store... After excavating “the first pot of goldâ€, Wang Changyu took a standard “investor†with a keen sense of investment and far-sighted investment. The image continues to expand the layout of Shen Rong Motor. In 2004, he and the marketing expert Cao Chuande hit it off and accepted it as a capital injection and served as president of the group. As a result, under the concerted efforts of the two, Shen Rong stepped into the multi-brand conglomerate operation model, achieved full-scale development while successfully surpassing several old dealers, and sat on the forefront of Sichuan regional group distributors for years.
Contact Guanghui in 2009
In 2009, Wang Changyu, the chairman of Shen Rong Automobile, announced that Shen Rong completed its first “Five-Year Plan†one year in advance, which means its operating income reached RMB 3 billion. The second “Five-Year Plan†was to let Shen Rong in 2014. About 10 billion or more scales are reached. In the winter of this year, he had the first meeting with Cao Chuande and Guanghui. Due to the lack of testimony of the parties, it was impossible to examine whether the meeting was a coincidence or intentional, but what can be learned from one of the meeting's witnesses was that Guanghui was quickly realizing Wang Chang through multiple acquisitions. Yu Yu failed to realize the “expansion dreamâ€. In the depiction of Guanghui’s high-level perspective on the expansion of the Group’s distributors, Wang Changyu and Cao Chuande seemed to have started to think about such a problem at that time: Shen Rong was to reach a scale of 10 billion yuan, The ranks of the first echelon of circulation in the country can only embark on the path of financing cooperation.
According to an insider close to Wang Chengyu’s former Shen Rong leadership, Wang Changyu had found people in several circles to talk about cooperation and tried to step out of Sichuan Province by way of shareholding, but ultimately because of risks, Multiple reasons such as management failed to do so. The road to "going out" does not work. The road to "bringing in" has finally been brought forward by Guanghui in 2010. Wang Changyu, who was in a dilemma, eventually decided to accept the merger and acquisition of Guanghui. In February of this year, the two parties entered substantive negotiations and reached a preliminary agreement. On Monday, Guanghui’s senior officials officially announced through Chengdu Business Daily that the M&A contract was formally signed and Shen Rong was renamed “Guanghui Shenrongâ€. However, there have been no accurate and formal arguments regarding the key core content of this acquisition.
A senior industry reporter once asked privately about the amount of mergers and acquisitions involved in the conversation with Wang Changyu in private, saying that the king is not sure and does not negately ask him, "Do you think I will 'sell' Shen Rong? "Another argument is that the merger will take place roughly in proportion to the original input of 1:8, which is about "1.4 billion." It is reported that through this transaction, Wang Changyu and his team's personnel who hold Shen Rong shares will share the transaction. However, the amount of the transaction has not been officially confirmed because it involves commercial secrets. The information learned by the Chengdu Business Daily reporter is that there are still a large number of foreign capital shares in Shenrong Automobile, which are mostly formed during the process of establishing a joint venture to build a store. This type of foreign capital has not been fully acquired by Guanghui, and Guanghui only It was the acquisition of the majority shareholder of absolute control, so many foreign capital shares did not change. However, with the large amount of funds invested by Guanghui, this part of the shareholders will also gain more benefits from future operations.
In any case, in the cold market environment and the downturn of the industry, Shen Rong’s high-level transfer of shares is a wise choice, and it is widely considered that the industry has chosen the right time node. At this time, either the whole body retreats, or wait and see the changes in the car market are the best policy.
He successfully escaped the top of the mobile phone industry again
Cao Chuande
â– President of Shen Rong Automobile
In 2004, at the age of 40, he was an escapee from the mobile phone industry and a scrabbler in the automotive industry. Eight years later, he once again managed to escape from the depressed auto dealership industry, and can be said to be selling at the top. .
In 2004, the Chinese auto industry was facing difficulties and many 4S shops were unsustainable. At that time, a man named Cao Chuande emerged from the mobile phone industry, which was in full swing, and he met with Wang Changyu, the founder of Shen Rong Automobile. In May of that year, Cao Chuandi took shares in Shen Rong with large sums of money and became an important shareholder and president. Eight years later, a dealer with a turnover of 500 million yuan developed into a large-scale automobile group with an annual output value of more than 8 billion yuan, and Sichuan Shenrong, which was established 18 years later, became Guanghui Shenrong, and Cao Chuande created it. A new round of wealth myths.
Low tide to join the automotive industry
People who know Cao Chuande will basically have a consensus. He is always full of passion and has a keen sense of smell in the market. The story has to start from 2004.
In that year, Cao Chuande, who was only 40 years old, retired from the senior management of China Kejian Co., Ltd. At that time, the mobile phone market had just entered the initial stage of large-scale adjustment after the rapid advancement. Cao Chuande, who had won the first pot of gold in the mobile phone industry, began to look for new opportunities. At that time, the Chinese auto market also ushered in unprecedented difficulties. In May 2004, the 50-year-old Wang Changyu and 40-year-old Cao Chuande held their hands tightly, which was when the Chinese auto market fell to a freezing point.
Recalling the car market of the year
After a two-year boom, the auto market in May 2004 ended the rally. In the same month, Su Hui, general manager of China Automotive Markets, the largest auto market in China, recorded: “The signs of declining production and sales have performed in April. The Asian Games Village auto market is worse than other auto markets. May auto trading ratio The previous month was reduced by 30%. And we couldn't see any signs of slowing down.†And back in 2000, the auto market was singing all the way and drawing a perfect sales growth curve. On June 16th of that year, the fiery Beijing International Auto Show had just ended. Regional managers of Shanghai Volkswagen and FAW-Volkswagen were quickly recalled to the headquarters. The following day, the entire automobile market heard the most shocking news of the year: North and South Volkswagen's products cut prices across the board.
Of course, the Chengdu auto market was not spared. There were rumors that Shen Rong Automobile, which had only three 4S shops at the time, had experienced serious business difficulties. However, in this year, for Sichuan Shenrong, which has a history of 10 years, the only transition from being a Shanghai Volkswagen brand to a multi-brand operation is at a critical point of change and breakthrough. "Our cooperation is an opportunity, a fate, and a blessing." Looking back at the road to cooperation, the views of Wang Changyu and Cao Chuande are astonishing. The joining of Cao Chuande not only brought in funds but also brought passion and vitality.
Another peak withdraw
The myth in the stock market is always the bottom of the bargain and always escapes, but such a fairy is always a legend. However, Cao Chuande in the auto market is not a legend. In 2004, he was the evasive player in the mobile phone industry and was also the whistleblower of the automotive industry. Eight years later, he once again managed to flee from the depressed auto dealership industry, and can be said to be selling at the top.
Cao Chuande’s cooperation with Wang Changyu was passed as a car market story. Cao not only brought a huge amount of money for Shen Rong, but also brought about the marketing and management that Shen Rong did not have. As the president, Cao Chuandi quickly promoted the operation of multiple brands, successively built Buick, Chery and Nissan stores and began group management. In the year of cooperation, the two men jointly directed the largest single-buy sales in China’s auto market so far.
Take a look at the transcripts after Cao joins, perhaps we can sort out the high-speed growth of Shenrong's wealth. The data shows that in 2004, the output value of Shen Rong was 500 million yuan; in 2005, the output value of Shen Rong increased to 8 billion; in 2006 it was 12 billion; in 2007, it rose to more than 23 billion, and in 2009 it increased to 3.5 billion. The turnover in 2010 reached an astonishing 45 billion. In 2011, Shen Rong’s fastest growing year, the annual output value of this auto group has been fabulously increased to more than 8 billion yuan, becoming the second largest car dealership group in Sichuan Province. In February of this year, Guanghui announced the acquisition of Shen Rong. 2011 was the fastest year for Shen Rong, and it was also the best year for financial statements.
When the negotiations ended in February of this year, the Chinese auto market began to intensify and decline, and the ratio of dealers' profit decline was even more alarming. Most car dealers entered the zero-profit era. It is said that the premium for the acquisition of Shen Rong exceeds 10 times. Some people say that Shen Rong was sold to the top. Is this just luck? After eight years of planning, Cao Chuandi retired from the automotive circulation field. In the next eight years, he will bring huge amounts of capital to what industry? We will wait and see.
Did he sell all the shares outside Shanghai Volkswagen Store?
Wang Changyu
â– Chairman of Shen Rong Automobile
In 1993, the 46-year-old Wang Changyu abandoned the iron rice bowl to start the "Shanghai Dazhong Chuanrong repair station" and started to develop. It is rumored that he will sell all shares except the Shanghai Volkswagen Store in the transaction. One is the feeling of starting a business, and the other is keeping a "blood" for the old Shen Rong.
In the winter of 1993, when 46-year-old Wang Changyu resolutely resigned from the iron rice bowl and resigned from the sea, he set up the "Shanghai Dazhong Chuanrong Service Station" by himself. The "Shenrong Motor", Sichuan's most powerful group distributor, opened. The prelude to the rapid development of 18 years.
The fate with Shanghai Volkswagen
Shanghai Volkswagen was an important reliance for Wang Changyu. His first four stores (later merged into two 4S stores) were the agents of the brand. Wang Changyu recalled when he was interviewed by the media. At that time, “Chuan Rong†and Shanghai Volkswagen also had Holds 20% of shares. Later, when explaining the "Shen" word in the Shen Rong Group, Wang Changyu once admitted without heditation that it was derived from "Shanghai Volkswagen." In fact, at that stage, Shanghai Volkswagen had another layer of “help†for Wang Changyu and Shen Rong in terms of capital accumulation: According to sources close to Wang Changyu, at the time Shanghai Volkswagen had to establish repair stations in other parts of Sichuan. It is through Wang Changyu's search for partners, and according to the agreement, he will always participate in 20% of the shares. This also laid the foundation for Shen Rong to step out of Chengdu and lay out the markets in Deyang, Meishan, Yibin and Quzhou.
Building a shop, making money, building a second store, making money, building a third store... After excavating “the first pot of goldâ€, Wang Changyu took a standard “investor†with a keen sense of investment and far-sighted investment. The image continues to expand the layout of Shen Rong Motor. In 2004, he and the marketing expert Cao Chuande hit it off and accepted it as a capital injection and served as president of the group. As a result, under the concerted efforts of the two, Shen Rong stepped into the multi-brand conglomerate operation model, achieved full-scale development while successfully surpassing several old dealers, and sat on the forefront of Sichuan regional group distributors for years.
Contact Guanghui in 2009
In 2009, Wang Changyu, the chairman of Shen Rong Automobile, announced that Shen Rong completed its first “Five-Year Plan†one year in advance, which means its operating income reached RMB 3 billion. The second “Five-Year Plan†was to let Shen Rong in 2014. About 10 billion or more scales are reached. In the winter of this year, he had the first meeting with Cao Chuande and Guanghui. Due to the lack of testimony of the parties, it was impossible to examine whether the meeting was a coincidence or intentional, but what can be learned from one of the meeting's witnesses was that Guanghui was quickly realizing Wang Chang through multiple acquisitions. Yu Yu failed to realize the “expansion dreamâ€. In the depiction of Guanghui’s high-level perspective on the expansion of the Group’s distributors, Wang Changyu and Cao Chuande seemed to have started to think about such a problem at that time: Shen Rong was to reach a scale of 10 billion yuan, The ranks of the first echelon of circulation in the country can only embark on the path of financing cooperation.
According to an insider close to Wang Chengyu’s former Shen Rong leadership, Wang Changyu had found people in several circles to talk about cooperation and tried to step out of Sichuan Province by way of shareholding, but ultimately because of risks, Multiple reasons such as management failed to do so. The road to "going out" does not work. The road to "bringing in" has finally been brought forward by Guanghui in 2010. Wang Changyu, who was in a dilemma, eventually decided to accept the merger and acquisition of Guanghui. In February of this year, the two parties entered substantive negotiations and reached a preliminary agreement. On Monday, Guanghui’s senior officials officially announced through Chengdu Business Daily that the M&A contract was formally signed and Shen Rong was renamed “Guanghui Shenrongâ€. However, there have been no accurate and formal arguments regarding the key core content of this acquisition.
A senior industry reporter once asked privately about the amount of mergers and acquisitions involved in the conversation with Wang Changyu in private, saying that the king is not sure and does not negately ask him, "Do you think I will 'sell' Shen Rong? "Another argument is that the merger will take place roughly in proportion to the original input of 1:8, which is about "1.4 billion." It is reported that through this transaction, Wang Changyu and his team's personnel who hold Shen Rong shares will share the transaction. However, the amount of the transaction has not been officially confirmed because it involves commercial secrets. The information learned by the Chengdu Business Daily reporter is that there are still a large number of foreign capital shares in Shenrong Automobile, which are mostly formed during the process of establishing a joint venture to build a store. This type of foreign capital has not been fully acquired by Guanghui, and Guanghui only It was the acquisition of the majority shareholder of absolute control, so many foreign capital shares did not change. However, with the large amount of funds invested by Guanghui, this part of the shareholders will also gain more benefits from future operations.
In any case, in the cold market environment and the downturn of the industry, Shen Rong’s high-level transfer of shares is a wise choice, and it is widely considered that the industry has chosen the right time node. At this time, either the whole body retreats, or wait and see the changes in the car market are the best policy.
He successfully escaped the top of the mobile phone industry again
Cao Chuande
â– President of Shen Rong Automobile
In 2004, at the age of 40, he was an escapee from the mobile phone industry and a scrabbler in the automotive industry. Eight years later, he once again managed to escape from the depressed auto dealership industry, and can be said to be selling at the top. .
In 2004, the Chinese auto industry was facing difficulties and many 4S shops were unsustainable. At that time, a man named Cao Chuande emerged from the mobile phone industry, which was in full swing, and he met with Wang Changyu, the founder of Shen Rong Automobile. In May of that year, Cao Chuandi took shares in Shen Rong with large sums of money and became an important shareholder and president. Eight years later, a dealer with a turnover of 500 million yuan developed into a large-scale automobile group with an annual output value of more than 8 billion yuan, and Sichuan Shenrong, which was established 18 years later, became Guanghui Shenrong, and Cao Chuande created it. A new round of wealth myths.
Low tide to join the automotive industry
People who know Cao Chuande will basically have a consensus. He is always full of passion and has a keen sense of smell in the market. The story has to start from 2004.
In that year, Cao Chuande, who was only 40 years old, retired from the senior management of China Kejian Co., Ltd. At that time, the mobile phone market had just entered the initial stage of large-scale adjustment after the rapid advancement. Cao Chuande, who had won the first pot of gold in the mobile phone industry, began to look for new opportunities. At that time, the Chinese auto market also ushered in unprecedented difficulties. In May 2004, the 50-year-old Wang Changyu and 40-year-old Cao Chuande held their hands tightly, which was when the Chinese auto market fell to a freezing point.
Recalling the car market of the year
After a two-year boom, the auto market in May 2004 ended the rally. In the same month, Su Hui, general manager of China Automotive Markets, the largest auto market in China, recorded: “The signs of declining production and sales have performed in April. The Asian Games Village auto market is worse than other auto markets. May auto trading ratio The previous month was reduced by 30%. And we couldn't see any signs of slowing down.†And back in 2000, the auto market was singing all the way and drawing a perfect sales growth curve. On June 16th of that year, the fiery Beijing International Auto Show had just ended. Regional managers of Shanghai Volkswagen and FAW-Volkswagen were quickly recalled to the headquarters. The following day, the entire automobile market heard the most shocking news of the year: North and South Volkswagen's products cut prices across the board.
Of course, the Chengdu auto market was not spared. There were rumors that Shen Rong Automobile, which had only three 4S shops at the time, had experienced serious business difficulties. However, in this year, for Sichuan Shenrong, which has a history of 10 years, the only transition from being a Shanghai Volkswagen brand to a multi-brand operation is at a critical point of change and breakthrough. "Our cooperation is an opportunity, a fate, and a blessing." Looking back at the road to cooperation, the views of Wang Changyu and Cao Chuande are astonishing. The joining of Cao Chuande not only brought in funds but also brought passion and vitality.
Another peak withdraw
The myth in the stock market is always the bottom of the bargain and always escapes, but such a fairy is always a legend. However, Cao Chuande in the auto market is not a legend. In 2004, he was the evasive player in the mobile phone industry and was also the whistleblower of the automotive industry. Eight years later, he once again managed to flee from the depressed auto dealership industry, and can be said to be selling at the top.
Cao Chuande’s cooperation with Wang Changyu was passed as a car market story. Cao not only brought a huge amount of money for Shen Rong, but also brought about the marketing and management that Shen Rong did not have. As the president, Cao Chuandi quickly promoted the operation of multiple brands, successively built Buick, Chery and Nissan stores and began group management. In the year of cooperation, the two men jointly directed the largest single-buy sales in China’s auto market so far.
Take a look at the transcripts after Cao joins, perhaps we can sort out the high-speed growth of Shenrong's wealth. The data shows that in 2004, the output value of Shen Rong was 500 million yuan; in 2005, the output value of Shen Rong increased to 8 billion; in 2006 it was 12 billion; in 2007, it rose to more than 23 billion, and in 2009 it increased to 3.5 billion. The turnover in 2010 reached an astonishing 45 billion. In 2011, Shen Rong’s fastest growing year, the annual output value of this auto group has been fabulously increased to more than 8 billion yuan, becoming the second largest car dealership group in Sichuan Province. In February of this year, Guanghui announced the acquisition of Shen Rong. 2011 was the fastest year for Shen Rong, and it was also the best year for financial statements.
When the negotiations ended in February of this year, the Chinese auto market began to intensify and decline, and the ratio of dealers' profit decline was even more alarming. Most car dealers entered the zero-profit era. It is said that the premium for the acquisition of Shen Rong exceeds 10 times. Some people say that Shen Rong was sold to the top. Is this just luck? After eight years of planning, Cao Chuandi retired from the automotive circulation field. In the next eight years, he will bring huge amounts of capital to what industry? We will wait and see.
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