A few days ago, the reporter was exclusively informed that after the National Day holiday, Jiangling Motors has officially submitted a specific plan for mergers and acquisitions to the Jiangxi Provincial Government to make the final game for integrating Changhe Automobile.
The Battle of Jiangbei
In August this year, it was reported that Changhe Automobile had started an “independent†journey under the intervention of the Jiangxi Provincial Government. In the future, Changhe Automobile will be stripped of Chang’an from Jingdezhen Base and Jiujiang Base, and Changhe Automobile will be planned for Hefei Changhe, and will be introduced through mergers and reorganizations. Strategic collaborators. Subsequently, media reported that Jiangling Motors or Beijing Automotive Group will take over Changhe. And just yesterday, some media exposed that Beijing Auto has confirmed the reorganization of Changhe, in October or formally announced the news. At this point, the "Jiangbei" campaign entered the white-hot stage.
In September, the chairman of the Beijing Automotive Group told reporters that in October Beijing Automobile will have a "big move." Subsequently, there was news that "Xu Heyi appeared in Jingdezhen." Changhe Automobile was naturally locked in by the industry as another target vehicle company that Beiqi would reorganize in addition to Zhenjiang Automobile.
It is understood that Beijing Auto Group has a clear goal in expanding its layout planning, and it has locked in state-owned enterprises with advanced technology and micro-vehicle production qualifications, and Changhe meets its conditions. If it can be successfully reorganized, Changhe Automobile, with an annual output of 300,000 vehicles and 150,000 engines, will directly fill its gap in the mini vehicle field. In the long-term sense, through the merger and acquisition of Changhe Hebei, it will enter the southeast region and complete the nationwide strategic layout. However, BAIC encountered many obstacles on the reorganization road.
Dajiang Steam Project
A source said that as early as August of this year, Jiangling Motors’ chairman Wang Xigao expressed to Jiangxi provincial leaders the meaning of “integration of automobile companies in the provinceâ€, which exactly met the wishes of Jiangxi Provincial Governor Lu Xinshe. In July this year, Jiangxi Provincial Governor Lu Xinshe stated in a speech at the 7th (enlarged) meeting of the 13th CPC National Committee of Jiangxi Province that Changhe Automobile and other enterprises were encouraged to merge and reorganize. It is understood that on the eve of the National Day holiday, the secretary of the Nanchang Municipal Party Committee once again proposed the desire to merge and reorganize Changhe Automobile to the leaders of Jiangxi Province, hoping to achieve the integration of the automobile companies in the province.
Judging from the layout within the product, Jiangling Motors, as a leading player in commercial vehicles, has been targeting the passenger vehicle industry as it has become increasingly close to Ford Motor Co., Ltd. The Jiangling Ford Group is in urgent need of qualification for passenger vehicle production. If this agreement is reached, Changhe will be able to provide Jiangling with passenger vehicle production qualifications. In terms of Changhe itself, the only temptation is that Jiangling, as a listed company, will surely help it turn around at the fund level. Of course, while saving Changhe, Jiangling cannot avoid asset-level pressure.
In addition, as the second largest shareholder of JMC, Ford Motor Co., Ltd. further increased its stake in Jiangling Motors from 30% to 31.5% in April this year, further strengthening the cooperation between the two parties. According to sources, in June of this year, Ford President and Chief Executive Officer Alan Mulally also expressed his thoughts to the leaders of Jiangxi Province during the launch ceremony of Jiangling Xiaolan, and he hopes to have further cooperation with Jiangling Motors as soon as possible. Formally enter the field of passenger cars.
In addition, according to the latest news, on October 10, Jiangling Motors Co., Ltd. issued a board resolution announcement, the company plans to invest 50 million yuan to set up a wholly-owned subsidiary of "JMC Motor Sales Co., Ltd.". Jiangling Motors will appoint Li Qing, vice president of the company, as the legal representative and executive director of Jiangling Motors Sales Co., Ltd. In the future, Jiangling Motors will inevitably enrich its product lineup. Entering the passenger car market is undoubtedly an important direction for future development. Therefore, it is not difficult to speculate that with the acceleration of the integration of Changhe Automotive, the establishment of a sales company is likely to prepare for the subsequent sales of passenger cars and network development.
Unclear prospect
Judging from the development strategy of local governments, the governor of Jiangxi Province has already expressed his hope and he hopes to create a dual-product qualification automobile company through the merger and reorganization of automobile companies in the province, which will shift the focus of Jiangxi's industrial development to the development of the automobile industry. In the future, Jiangxi Province will have the “Jiangxi Automobile Groupâ€.
However, it is worth noting that currently the three parties of Jiangling, Chang'an, and Ford are in a more complex relationship, which will also affect Jiangling's reorganization of the Changhe River. As a listed company, Jiangling Motors has a very complicated ownership structure. According to public information, the major shareholders of Jiangling Motors are Jiangling Holdings and Ford Motor Co., Ltd., which was established by Changan Automobile and Jiangling Group in December 2004 after Changan Automobile officially acquired Jiangling Motors.
Who will eventually catch the plate "to be married" Changhe? Changhe once went through a detour, and after restructuring with Changan Automobile “failedâ€, Changhe Motor Co., once again faced with the choice of strategic partners, should take a long-term view and choose carefully.
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