Reorganization of undercurrent in the system In addition to cross-regional mergers and acquisitions, a number of car companies have now focused their attention on restructuring within the system, including the overall listing of the group, the integration of provincial car companies, and the reorganization of the relevant car companies to which the actual controller belongs.
The national securities report pointed out that the biggest art of "planning" lies in the "selection" of Changan Group from the second group into the first group. Taking Chang'an as one of the "big four" indicates that Changan will become one of the protagonists in the future. Chang'an Automobile, as the leader of the aerospace military system automobile industry, will receive multiple support from the national policy. In the future, it is very likely that it will reconstruct the new CNAC's Hafei and Changhe.
From the point of view of expanding production capacity, Hafei Motor has an existing production capacity of approximately 400,000 complete vehicles and 450,000 engines, and Changhe Automotive has an existing production capacity of 300,000 complete vehicles and 150,000 engines. These production capacities include two parts: mini-vehicle and sedan. After a modest retrofit, they can all be used by Changan Automobile, so that the production capacity can reach a big step. It is worth noting that on July 7, Changan announced that its controlling shareholder, China Southern Industrial Automotive Co., Ltd., was renamed "China Chang'an Automobile Group Co., Ltd.". The industry believes that this is a signal to the market that Changan has an overall listing.
In addition, FAW has its overall listing dream. Although the company clarified yesterday that so far, FAW Group did not determine the specific plan for the overall listing, nor to determine a specific timetable, but did not deny the company's overall listing plan. At present, only FAW has not yet achieved overall listing among the three largest automobile groups. Shanghai Automotive Group has already achieved overall listing through Shanghai Automotive, and Dongfeng Motor has also achieved overall listing by listing in Hong Kong. According to industry analysts, FAW's overall listing willingness is strong, but it may encounter resistance from Tianjin. After Xiali sells to FAW Group, Tianjin has been hoping to buy back shares.
Associated with the overall listing is the reorganization within the region. For example, the Notice of the Anhui Provincial People's Government on the Printing and Distribution of Anhui Province's Automobile Industry Adjustment and Revitalization Plan, which was announced on May 12, supports Chery, Jiangqi, Hualing, Changhe, Yangzi, Quanchai, etc. according to market principles in the province. Joint restructuring, and strive to form a production capacity of more than one million automotive enterprise groups. According to sources, the reorganization of assets between Jianghuai Automobile and Chery Automobile is the highlight of Daan Automobile. “It is not a problem that is not pursued but how it is done.†The overall progress is to be completed in the fourth quarter. Of course, this should take into consideration Chery Automobile's IPO progress. If Chery Automobile succeeds in the IPO in the fourth quarter, the reorganization method may be based on cross-shareholdings based on the product; if Chery Automobile cannot smoothly IPO, the reorganization method may have a tendency to be oriented by JAC. The additional issuance method to rationalize the relationship between automotive products in Anhui Province.
View related topics: China's auto industry recommence mergers and acquisitions wave
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