For Chery, it was quite uncomfortable in June. At the beginning of the month, Chery announced that it had successfully introduced development funds of 2.9 billion yuan. These funds will be mainly used for Chery's new energy projects, heavy truck projects and the four-car project under construction. At the same time, a number of domestic investment institutions represented by Huarong Asset Management Co., Ltd. quickly entered the media vision behind this incident. It is worth noting that the process of further diversification of Chery’s shareholdings happened just before the restart of the IPO, which could not but allow the outside world to once again focus on the focus of Chery's listing.
Not bad money and good timing
Before the smooth introduction of funds, Chery was not a bad idea. At the end of 2008, Chery had received a loan of 10 billion yuan from the Export-Import Bank of China. From the current state of development of Chery, the funds needed for the normal development of the company are: Not a problem.
However, the subject left for Chery is obviously not that simple. From the Chery official plans disclosed in June, Chery needs to quickly open the export market (including the Chinese Taiwan market) in the short term. High-end car projects, new energy projects and heavy truck projects have been Put on the table, from a long-term perspective, with the restructuring of Jianghuai also led by the Anhui provincial government gradually revealed its clues, Chery in the current brand while also need to take into account. Obviously, at this time, when it comes to listing, its high-level executives, led by technical talents, are clearly limited in energy. But it is precisely because of the large number of capital-related demands of multiple factors that Chery should choose to go public.
The current known result is that Chery has completed targeted private placements as early as two months ago. The targets are Huarong Asset Management Co., Ltd., Bohai Industrial Investment Fund Management Co., Ltd., Shenzhen Zhongke Merchants Venture Capital Management Co., Ltd., and Asset Management Co., Ltd. and Ding Hui Equity Investment Management (Tianjin) Co., Ltd. and other investment institutions, but for the detailed progress of this incident, the Chery General Office is not willing to mention too much, and its general manager assistant Jin Yibo is Its statement in the “Financing Capacity Expansion and Seizing the Development Opportunities†stated that a number of domestic outstanding investment institutions saw the development potential of Curious Rui, and this action was based on Chery's strategy of “financing and boosting Chery's developmentâ€.
It is understood that Zhongke Investment and CDH Investment, as lead investors, organized this round of investment. The industry has speculated that Chery’s move is the operation of listed underwriters. By introducing the above investment institutions, Chery’s equity is more diversified. , It is conducive to the formation of listing conditions, and through the introduction of well-known investment institutions to improve the bargaining at the time of listing, which has become the company's pre-listing international practice.
Regarding this statement, Chery’s General Manager did not give a response, but most of the industry insiders pointed out that after restarting the IPO draft, the high-profile announcement that the listed Chery should have movements.
Some securities analysts believe that: “According to the above actions, Chery should have hired underwriters to help with its listing operations. The longest time is also within one year, plus the participation of institutions such as Youhua Finance Asset Management Co., Ltd. The time may be shorter."
Grand Chery Idea
For the future trend of Chery's listing after listing, this newspaper has made relevant predictions before, and it is preferred to be listed on the domestic A-share market instead of the “A+H†form. For the future financing quotas, there is no public opinion in all aspects.
Lu Jianhui, deputy general manager of Chery Automobile, revealed at the end of 2006 that according to the plan, Chery Automobile plans to invest 30 billion yuan to expand production in the next 5-10 years. This part of the funds will be obtained through three ways: listed financing, bank loans, and company retained earnings. Yin Tongyue, chairman of Chery Automobile, also stated a few years ago that the Chery plate is too small and it hopes to re-list Chery's eup again so that it can absorb more funds.
The words of Yin Tongyue may be even more valuable today. Judging by the current development speed of Chery, it is exactly what he expected from his development. From the second half of 2007, Chery began to make strategic adjustments, focusing on increasing the work. Profit rate. Until now, Chery has completed four brand lines including Chery, Ruiyi, Weilin, and Kairui, a number of boutique models complement each other, and multiple marketing channels to support the “Big Chery†multi-brand architecture. At the same time, the smooth progress of overseas projects is also Chery. Bring considerable profits.
Jin Yibo said: "In the international market, Chery's price advantage is not all, in fact, Chery's brand is very large. With the gradual increase of China's national influence, driving the influence of Chinese products has gradually increased."
In June, Chery officially announced its plan to enter Taiwan. Chery and Taiwan Shengrong Automobile Industry Co., Ltd. reached a cooperation agreement, the two sides jointly develop the Taiwan market, Chery Automobile plans to formally enter the Taiwan at the end of the year, Shengrong Automobile Co., Ltd. will be Chery's exclusive agent in Taiwan, in the form of CKD assembly production and sales Chery car. The Chery A3 will serve as a pioneer for Chery’s landing in Taiwan. The Ruiqi G6 and G5 will also be on stage in the next year.
Industry insiders believe that the relatively complete laws and regulations in the accessory industry and auto industry in Taiwan are the driving force behind Chery's entry into Taiwan. In addition to opening up Taiwan’s local market, Chery intends to use Taiwan as an export base.
While doing a good job in the export market, this year's strong domestic market demand has also supported Chery's overall leap forward in 2009. According to the latest sales statistics, Chery’s total sales have exceeded 1.5 million. In 2009, sales exceeded 3 million for 3 consecutive months. Among them, the Chery A5 sold more than 5,000 units in March alone. After sales of 5288 units in March and an increase of 60% from the previous quarter, the A3 set a new sales record of 6,155 units in April.
Experts analyzed that the favorable policies of the government, such as the New Deal on Purchase Taxes, the New Deal on Fuel Tax, and the downward adjustment of oil prices, have already begun to show signs of promoting the auto market. This is also a test of the market competitiveness and brand strength of the Chery A5 and Chery’s products.
At the same time, in the revitalization plan of the automobile, the "four major and four small" mergers and reorganizations are encouraged. As one of them, Chery naturally has its own wishful thinking. Jin Xiaobo said: "Whether or not M & A, according to the needs of the development of enterprises, M & A objects to be able to achieve strategic complementarity, can achieve a win-win situation depends on the timing. Chery fully believes that their position in the industry."
Everything is just like Yin Tongyue said that at the time when the world’s big automobile companies have reduced the scale of investment, Chery’s internationalization has been significantly accelerated. Chery, as a latecomer, is learning from the experience of internationally renowned companies, turning crisis into a machine, and making the crisis stronger. By.
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