Editor-in-Chief | Zhang Kehuan
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Author | Fu Yu
Reports from The GreatAuto
Founded in 1997, Chery Automobile has been a science and engineering man in the previous 24 years, whether it is in a dark room in Wuhu, Anhui Province, or gradually growing into one of the most technologically powerful car companies in the independent enterprise, and its indulgence in technology has always been its true color. But in 2022, the polytechnic man seems to have "opened up" and begun to operate in more aspects outside of technology.
Equity changes, mergers and acquisitions, Chery moves frequently
In the "Zhou Yi", it was said: "A gentleman hides an instrument in his body, and the treatment moves from time to time, so why is it unfavorable?" "As an independent brand car company that has achieved 1 million achievements in only 10 years, Chery, a gentleman, can be described as a master in automotive technology. Chery, which has technology, is also ready to create a new "weapon" from the level of capital and company operation in 2022.
In February this year, Luxshare Precision announced that it had signed a Strategic Cooperation Framework Agreement with Chery Holdings, Chery New Energy and Chery Automobile Co., Ltd. (hereinafter referred to as Chery Automobile) in Wuhu, Anhui Province. According to the agreement, Luxshare Precision will jointly form a joint venture with Chery to specialize in the research and development and manufacture of new energy vehicles. In addition, Luxshare Precision will also purchase 19.88% of the equity of Chery Holdings, 7.87% of chery Automobile and 6.34% of chery new energy held by Qingdao Wudaokou for 10.054 billion yuan. After this capital increase and share expansion, the equity of Qingdao Wudaokou, chery's largest shareholder, has dropped significantly, becoming the second largest shareholder after the State-owned Assets Supervision and Administration Commission of Wuhu.
In fact, since 2018, Chery has been groping on the road of "mixed reform", including the "white knight" at that time - Qingdao Wudaokou, which is chery's efforts. Although Qingdao Wudaokou was stationed in Chery at that time with the idea of "helping not to add chaos", after three years had passed, its "mixed reform" had not made any substantial progress. In addition to the equity change, the specific operation content contained in the agreement is more attractive to Chery.
Similar to the foundry of Luxun Precision does not have any core in terms of car manufacturing, it has been relying on Apple, like Foxconn, more like a foundry, and the joint venture company to engage in the research and development of new energy vehicles and manufacturing and other series of work, it needs to rely on Chery in technology. This is like the combination of Liu Chuanzhi and Ni Guangnan, the technology maniac also needs an output port, and Luxshare Precision provides a new stage for Chery.
Just after the end of the matter with Luxshare Precision, Chery recently reported a new "gossip object", that is, Southeast Automobile located in Fujian. Recently, a PPT about chery commercial vehicles and Southeast Automobile cooperation planning leaked on the Internet, the PPT shows that Chery or will acquire Southeast Automobile, which caused a lot of discussion on the Internet. According to the plan, the two sides will formally cooperate in 2022, on the basis of using Southeast Automobile as the main body, joint development, base production, in-depth cooperation, and will strive to achieve an annual production and sales of 400,000 units within 3-5 years.
The three-step plan stretched the timeline to a decade and included goals for sales, channels, new plants, and new models. In the process of realizing the merger of Southeast Automobile, Chery's Jietu brand may play an important role.
Led by Jietu, Chery opened the expansion mode
Since 2013, Chery has been in a state of strategic contraction, although mergers and acquisitions have become a common means in the automotive industry, and have been rapidly staged in recent years, players such as Geely have taken the opportunity to continuously expand the layout, while Chery has been quiet. This rare shot, in addition to being able to bid farewell to strategic contraction to a certain extent and re-enter the expansion trend, in fact, it has been hiding its weapons for many years and has waited for the right time.
As a key brand in this merger, the Company, which was released in 2018 and officially became an independent Gittario brand in 2021, has become a "dark horse" in the automotive market in recent years. Since its release, Jietu's sales have exceeded 400,000 vehicles, of which 2021 has achieved an average of 12,500 units per month. In addition, at the beginning of March, Jietu just listed the flagship car Jietu X90 Zilong, not only its model has been further expanded, the brand model has also completed the breakthrough of the price range of 150,000 yuan, representing Chery to complete the brand up the key leap.
In fact, at the beginning of 2022, Jietu will come to a new, including products, brands, marketing and other dimensions, comprehensively upgrade the "travel +" strategy, according to the plan, Jietu will form X, T, P, V four major product sequence layout in the future, respectively, mainly SUVs, hardcore off-road, hard pickup trucks, MPV models, and the venue of this conference is in Fuzhou, where southeast cars are located. Perhaps since then, Chery and Southeast have been a bit "catty".
After the comprehensive renewal, Jietu has set a higher sales target in 2022, and will complete 200,000 sales and challenge the scale of 250,000 vehicles. In the face of the growing market size, Jietu does need to further expand its production capacity, and after part of the capacity of the Henan plant and the Wuhu plant, it will open a new production line in the south.
Whether it is the capital increase and share expansion that began early, or the recent equity change, merger and expansion, it is Chery's efforts for the IPO. As one of the leading enterprises of its own brand, unlike Friends, which has already been successfully listed, Chery's listing road has always been bumpy. Previously, when Qingdao Wudaokou moved in, Yin Tongyue had said that the listing problem after the end of the stock reform was being promoted in an orderly manner, but after a few years, it still did not take that step. At present, new energy has been split, the strategic contraction is basically over, and the first step in Chery's expansion may be to start with a shortcut and open the road to listing.
Write at the end:
While completing its historic achievements in 2021 with a year-on-year increase of 31.7% and 961926 sales, Chery has also ushered in an excellent opportunity for it to dormant for many years. The maturity of technical reserves is beyond doubt, the growth of sales is the icing on the cake, and the gradual stabilization of high-end brands has also added more confidence to it, and in 2022, the expansion of production capacity, new business segments, equity changes, etc., have "added dowry" to Chery's listing. For a long time, Chery seems to have waited long enough, and it is time to "move".
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