According to official data, Volkswagen China contributed 2.383 billion yuan to Jiang Qi Holdings, Volkswagen China contributed 65.438+60.9 billion yuan to Volkswagen (Anhui) Co., Ltd., and Jianghuai Automobile contributed 82.525 million yuan to Volkswagen (Anhui) Co., Ltd., both of which have been completed.
After the transaction is completed, Volkswagen China, as a shareholder of Jiang Qi Holdings, holds 50% equity of Jiang Qi Holdings, Anhui SASAC holds 50% equity of Jiang Qi Holdings and still controls Jiang Qi Holdings. Volkswagen China holds 75% equity of Volkswagen (Anhui) Co., Ltd., and Jianghuai Automobile holds 25% equity of Volkswagen (Anhui) Co., Ltd.
Meanwhile, the legal representative of Volkswagen (Anhui) Co., Ltd. is Feng, CEO of audi ag (China).
Speaking of the hand in hand between Volkswagen and JAC, it originated from 20 17. In June of that year, JAC Automobile and audi ag established a new energy enterprise "JAC Volkswagen Co., Ltd.".
However, the cooperation between the two is not very smooth. According to JAC 20 19 annual report, JAC Volkswagen lost 360 million yuan that year.
Regarding this capital increase, as early as May 29th this year, JAC announced that Volkswagen China Investment had signed a letter of intent with Jiang Qi Holdings on the same day. After the capital increase is completed, Volkswagen China Investment will become the controlling shareholder of Jiang Qi, holding 50% shares of Jiang Qi Holdings, while Anhui SASAC will hold 50% shares and still control Jiang Qi Holdings. In addition, Volkswagen China Investment will increase its capital to Jianghuai Volkswagen, the joint venture company of both parties. After the capital increase transaction is completed, Volkswagen China Investment will hold 75% equity of Jianghuai Volkswagen.
According to the announcement, after Volkswagen China invested to become a 75% shareholder of Jianghuai Volkswagen, the German Volkswagen Group is willing to award its mainstream brands and a series of new energy products. The planned products will be built on its pure electric platform. In addition, Volkswagen Group will give priority to introducing B-class and C-class vehicles to Jianghuai Volkswagen, including pure electric vehicles, fuel vehicles/plug-in hybrid vehicles and potential commercial vehicle products.
At the same time, Jianghuai Volkswagen will gradually expand its scale and strive to achieve an annual output of 350,000-400,000 vehicles in 2029. The total investment of the project is expected to reach about 654.38 billion euros or equivalent RMB. Volkswagen Group is willing to further develop comprehensive and in-depth cooperation with Jiang Qi Holdings in various fields under the framework of laws and regulations.
The data shows that in the first quarter of 2020, Jianghuai Automobile's operating income was 9133 million yuan, down 37.66% year-on-year, and it also generated a loss of 356 million yuan, which brought pressure to Jianghuai's operation.
I have to say that for JAC, through deeper cooperation with the public, JAC can get technical support and product support from the public, fundamentally enhance its competitiveness and get out of the current predicament.
Insiders pointed out that behind this capital increase, in the long run, it is a win-win situation: Jianghuai gets the brand premium and technology of Volkswagen, and Volkswagen gets the domestic marketing network of Jianghuai, further occupying the domestic new energy market share.
To be sure, with the blessing of the public, JAC's sales have increased recently. The data shows that during the period of 10 this year, Jianghuai Automobile sold 43,000 vehicles, up by 3 1.45% year-on-year, and the cumulative sales volume during the period of 1- 10 was 375,600 vehicles, up by 6.24% year-on-year. In terms of profit, in the third quarter of this year, Jianghuai Automobile's revenue was15190,000 yuan, a year-on-year increase of 48.4 1%, and the net profit attributable to shareholders of listed companies was190,000 yuan, a year-on-year increase of 556 1.60%.
To some extent, this capital increase is not only a joint venture between the two groups, but also the final result of the game between the domestic market and overseas markets, and between the automobile enterprises and the overall situation, which marks the end of the era of equal joint venture in China's automobile industry and the official arrival of the clarion call for the full opening of China's automobile industry.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.