“The situation in which BAIC holds 33% of the limited shares of BAIC has become history.†On March 5th, Beijing Auto Holding’s relevant person said in an interview with this reporter. At the time of this announcement, BAIC has just undergone a test of its own brand building, because Beijing Automobile Manufacturing Co., Ltd. (hereinafter referred to as BAIC) will be the base for the rejuvenation of the Beijing brand, an important independent brand of BAIC.
On February 29, according to the "Beijing Auto Manufacturing Factory Co., Ltd. Restructuring Framework Agreement" signed by Beijing Auto Holding Co., Ltd. and Beijing Automotive Assembly Plant (Beiqi Co., Ltd.) on December 27 last year, BAIC Limited completed the registration of industrial and commercial change of its stock rights. The company restructured BAIC Limited by capital increase and became its controlling shareholder, ending the embarrassment that BAIC Holdings’s focus on creating its own brand base was not the largest shareholder.
In addition, Beiqi Foton has officially become the largest shareholder of Beiqi Foton, and Beiqi Holding has officially straightened out the equity relationship between the two major key companies, which has made substantial progress in its vigorous and independent brand building.
Beiqi Limited Stock Reform Completed
On December 27, 2007, Beijing Auto Holding Co., Ltd. and Beijing Automotive Assembly Plant signed the "Beijing Auto Manufacturing Factory Co., Ltd. Restructuring Framework Agreement", which will reorganize Beiqi Co., Ltd. in a capital increase manner. After this restructuring, Beiqi Holding Co., Ltd. will change shares. For the holding.
In accordance with the time schedule stipulated in the agreement, prior to December 31 of last year, relevant parties took asset assessment as the base, and in accordance with the target share ratio, the amount of cash contribution from BAIC Holdings and the amount of shares transferred from BAIC Assembly Plant were negotiated; before January 31 of this year , Beiqi Holding and the assembly plant signed a shareholders agreement and an amendment to BAIC's statute of limitation; before February 29, BAIC completed the registration formalities for changes in industry and commerce.
A few days ago, Beiqi Holding used “Baiqi Holding’s 33% limited shareholding in BAIC has become historyâ€, indirectly confirming the latest progress of the above agreement, which means that BAIC's limited equity reform has been completed soon.
In fact, accompanied by the recent major news from Beiqi Holdings, few people noticed that Beijing Automobile Limited, which is rarely reported in the media, has been the key point for the successful implementation of its own brand strategy.
At the end of 2006, Xu Heyi became the head of Beiqi Holding. At the beginning, he planned the strategy for BAIC Group's group development, in which the establishment of independent brand platform became an important part. According to this idea, BAIC will establish two independent brands, namely "Fukuda Automobile" and "Beijing Brand". Beiqi Foton and BAIC will become two important production bases of independent brands. Among them, Beiqi Foton has developed a full range of self-owned brands of commercial vehicles. Beiqi Limited Shunyi Factory is positioned as a production base for self-owned brand cars, mid- to high-end off-road vehicles, military vehicles and other products, and is particularly responsible for the revival of the “Beijing brand†sedans.
However, the situation at that time was that the largest shareholder of Beiqi Foton and Beijing Auto was not Beiqi Holdings. Subsequently, BAIC began to make relevant adjustments to the two companies. The equity relationship of Beiqi Foton was smoothly adjusted. After the related procedures were completed, on December 6, 2007, Beifang Foton Motor Co., Ltd. was issued by the State-owned Assets Supervision and Administration Commission transferred from Beijing Automotive Industry Holding Co., Ltd. Shareholders of shares of the stock limited company transferred the relevant issues approved, Beiqi Holding shares 36.43% of Beiqi Futian, becoming its largest shareholder.
The rationalization of the equity of BAIC has not been smooth. With the above approval, 33% of the shares held by Beijing Automobile & Motorcycle United Manufacturing Co., Ltd. in Beijing Automobile Manufacturing Co., Ltd. were transferred to BAIC, but it was not the largest shareholder of BAIC, and BAIC was the largest one. The shareholders are Beijing Automobile Assembly Plant, which holds 67% of the shares.
It is reported that BAIC's rationalization of BAIC's limited equity relationship has been started as early as a year ago. At the beginning of 2007, Beijing Auto Holding converted its two independent models, the autonomous vehicles developed by the original Beijing Jeep (now Beijing Benz-Dyke) joint venture company, China Warriors and Cavaliers, and related assets to the Beijing Automobile Industry Co., Ltd. According to sources, the reason why the two parties reached an agreement when the Warrior and Cavaliers products and related assets were transferred to BAIC for a limited one year was related to differences in the assessment of the above assets. Beiqi Holding’s assessment of the above products is 120 million yuan, and the assessment data issued by BAIC Limited shows that only 40 million yuan, a huge gap.
Subsequently, the framework agreement for Beiqi Holdings’ share addition was signed on December 27, and it is planned to complete the industrial and commercial registration on February 29 this year, but the final asset assessment data is not known to the outside world. According to a related person from Beiqi Holdings, BAIC Group's "Three Mainstays and One Subsidiary" are the limited "capital" of BAIC: "Three Masters" are the brands of the Warriors and Knights, related technologies, and independent brands that have settled in Zhuzhou, Hunan not long ago. Passenger vehicle base; "One auxiliary" is the future model and technical support of Beijing Automotive Research Institute. According to the staff of the Beijing Automotive Research Institute, the main R&D products in the hospital are currently targeted at BAIC.
"Beijing" brand rejuvenation in sight
“We are working overtime to finalize the concept of our own-brand concept car to be unveiled this year at the Beijing Auto Show.†A person working at the Beijing Automotive Research Institute told the reporter that in the future, these concept vehicles will likely be fully settled in Beijing. limited.
At the end of 2006, Xu Heyi planned for the strategy of rejuvenating the "Beijing" brand passenger car. The BAIC Research Institute has developed a two-phase “Beijing†brand vehicle R&D plan: The first phase will use “Beijing·Warriors†military vehicles and SUV vehicles as breakthroughs to develop hybrid technologies, new energy vehicles, automotive electronics and other advanced technologies. The common key technology research; the second phase includes the research and development of passenger cars of the “Beijing†brand of economical cars and premium cars. According to Xu Heyi’s preliminary plan, in 2010, Beijing Automotive will launch its first self-owned brand sedan.
A few days ago, at the Beijing Benz-Dyke Pui Rui's listing conference, Beijing Automotive and Beijing Benz-Deck Chairman Xu Heyi also confirmed that at the Beijing International Auto Show this year, the “Beijing†brand auto brand will be officially unveiled. .
Therefore, the importance of Lishun Beiqi Limited Equity relationship is self-evident. As the important independent brand production base of BAIC, it undertakes the heavy responsibility of reviving the “Beijing†brand passenger vehicle.
Since its establishment in 2001, BAIC Motor Co., Ltd. has achieved a production capacity of 100,000 cars and a five-fold increase in net assets. In 2007, the production and sales of BAIC Motor Co., Ltd. exceeded 40,000 vehicles for the first time, and exported 13,000 vehicles. It has become the fastest-growing company for four automakers of BAIC Holding.
In addition to its good scale, BAIC has a long history. Beiqi Automobile Co., Ltd., founded in 1958, is the second large-scale automobile manufacturing company built after China’s Changchun First Automobile Factory. The seemingly weird name of Beijing Automobile Manufacturing Co., Ltd. is to retain “Beijing Automobile Factoryâ€. "The seven Zhu De personal inscriptions and stay. The "Beijing" brand has also had a history of glory and pride. In the 1960s and 1970s, only the Beijing 212 jeep that can be taken by leading officials at and above the county level was from here.
In the entire vehicle business, Beiqi Holding’s development concept is to “strengthen Beiqi Futian, enlarge Beijing Hyundai, do fine Beijing Benz, and make special Beiqi Limitedâ€.
The industry believes that with the completion of the last piece of vehicle business, BAIC's limited equity relationship, and the launch of the “Beijing†brand, BAIC's own branded vehicle platform will go on track, and BAIC Group will go into a group and complete vehicle. The overall market is going even further.
A few days ago, following Fuqi, the news that Beiqi Automobile Holdings acquired Changhe Automobile was reported. Although both parties had denied it, they also reflected the need of Beiqi's “breakthrough of localities and layout of the countryâ€.
At the same time, March 3, Dongan Power (600178) announced the resumption of trading, to determine the Dongfeng cash contribution, with the Bank of China Science and Technology, Hafei, the formation of a joint venture company, which indirectly confirmed the Dongfeng no intention of Changhe. Industry insiders believe that the possibility of BAIC acquiring Changhe in the future will not be ruled out.
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