Even so, as a major shareholder of Hechuang, GAC decided to continue to increase its holdings and create cars.
On February 23rd, Guangzhou Automobile Group announced that the board of directors reviewed and approved the Proposal on Capital Increase of Hechuang Automobile, and agreed that the company and its holding subsidiary, Guangzhou Automobile Aian New Energy Automobile Co., Ltd., respectively increased their capital by 4.46% and 20.54% to Hechuang Automobile Technology Co., Ltd.
However, it is worth mentioning that some directors of Guangzhou Automobile Group abstained from voting on the proposal, believing that the future development of Hechuang Automobile is uncertain and suggesting cautious investment.
The suggestion of prudent investment makes sense. Judging from the current performance of Hechuang Automobile, it is obviously incomprehensible to continue to increase its holdings. However, GAC may also have its own considerations.
Friends who know the history of new forces building cars know that Hechuang Automobile was formerly known as "Guangzhou Automobile Weilai", which was jointly established by Guangzhou Automobile and Weilai. Only later did GAC focus on Ai 'an, and Wei Lai moved to Hefei. Guangqi Weilai has become a "left-behind child" that parents can't control. In the end, Weilai withdrew, and Guangzhou Automobile Weilai introduced a new strategic investor, Zhujiang Investment Management Group, to become a major shareholder and changed its name to Hechuang Automobile.
Therefore, strictly speaking, Hechuang A06, which was launched at the end of last year, is the first truly original model of Hechuang Automobile. Hechuang 007 is actually a product of Guangzhou Automobile Weilai period, with strong Weilai color. Hechuang Z03 is almost a copy of Guangzhou Automobile Aian Y, and only Hechuang A06 is the first work with its own design characteristics after the introduction of new shareholders.
Therefore, from this perspective, Hechuang Automobile is just a newborn baby, so the capital increase behavior of GAC is understandable. This is one of them.
Second, for GAC, Hechuang Automobile actually undertook the task of sharing excess capacity with GAC. At the end of 20021,Hechuang Automobile acquired 49% equity of Guangzhou Automobile Passenger Car Hangzhou Factory through bidding. Subsequently, Hechuang Automobile tried to move its heavy-duty model Hechuang Z03 to Hangzhou for production.
Guangzhou Automobile Hangzhou Factory originated from Gio Automobile. Gac merged into Gio on 20 10. After three years of continuous losses in gac gonow, Gio has no spare capacity to invest any more. Finally, on 20 16, Guangzhou Automobile Passenger Car was fully accepted by gac gonow Hangzhou Factory. At that time, GAC passenger cars were in a rapid development stage, with annual sales of190,000 vehicles in 2065.438+05. At that time, the production capacity of GAC was only 200,000 vehicles, so the Hangzhou plant was regarded as the next production capacity guarantee of GAC Chuanqi.
However, contrary to expectations, starting from 20 19, GAC Chuanqi also began to experience sales decline and losses. As a result, the production capacity of the Hangzhou factory has changed from a guarantee to a "burden". According to public data, in 2020, the loss of GAC passenger cars exceeded 65.438+0.3 billion yuan. The industry believes that the root of the loss lies in the rapidly growing vacant production capacity. Therefore, Hechuang finally took over part of Guangzhou Automobile's production capacity in Hangzhou, not only for its own consideration, but also to share the pressure of Guangzhou Automobile. Based on this, GAC has no reason not to continue to support and create the development of automobiles, which can be regarded as reciprocated.
Thirdly, the joint venture between traditional state-owned automobile groups and private enterprises is a beneficial attempt. For example, Changan has Ovida, SAIC has smart cars, and GAC can only have and create cars at present. Obviously, GAC has no reason to give up Hechuang at present.
However, even if Hechuang Automobile obtains capital increase, it does not mean that Hechuang Automobile can gain a firm foothold in the next competition. It is no exaggeration to say that the current new energy vehicle market is already a Red Sea. The new power camp of car-making represented by Wei Xiaoli is being divided, and the traditional new energy car-making enterprises represented by BYD are beginning to grow at a high speed, as well as Tesla, the world's top stream that can manipulate prices at will. Hechuang Automobile can't compete with its competitors in brand strength and product strength at present.
Especially in 2023, the forecast of the whole industry is not very optimistic. According to the data of 65438+ 10, the total sales volume of new energy vehicles in 65438+ 10 was 294,000, down 6.7% year-on-year and 58.5% quarter-on-quarter. Most car brands have not escaped the bad luck of falling sales.
At the same time, Tesla's price reduction triggered a chain reaction, and car companies such as Wenjie, Tucki, Weilai, Volvo, Ai 'an and Fan Fei began to follow suit and cut prices. Recently, BYD dynasty series models have also begun to reduce prices. This signal shows that there are not many orders on hand, and then it will definitely "shop" the market. In this context, the situation of Hechuang Automobile is really bad.
Perhaps this 600 million capital increase can only ensure that Hechuang Automobile will continue to be safe this year. (Text/Youshi car old gun)
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