Green Orange Automobile has learned that Changan Weilai has always been regarded by the outside world as the main body of Changan Automobile to build a high-end brand. On the one hand, Tan Benhong, executive vice president of Changan Automobile, and Yang Dayong, general manager of the public relations department of Changan Automobile, who led the preparations for the high-end brand of Changan Automobile, both mentioned that "Changan Weilai will build a high-end brand of Changan Automobile"; On the other hand, the "Guangyu" trademark registered by Changan Weilai at the end of 20 19 is also considered by the industry as the official name of Changan's high-end brand AB.
But obviously, with the establishment of Oita Technology, the partner of Changan Automobile to build a high-end brand is no longer Weilai Automobile, and the relationship between Weilai Automobile and Oita Technology will be limited to the shareholding ratio. As early as the beginning of June last year, Changan Automobile increased its capital by 90 million yuan, and its shareholding ratio increased from 45% to 95.38%, while Weilai Automobile reduced its holdings to 4.62%.
The reason why Weilai Automobile is "indifferent" to Changan Automobile's capital increase may be related to its investment in Hefei. Before Changan's capital increase, Hefei invested1126 million yuan for Weilai Automobile, which relieved the latter's financial worries in one fell swoop. Judging from the financial report of Weilai Automobile, the gross profit margin will turn positive in 2020, and it has maintained a long-term loss state before.
The data shows that after the capital injection from Hefei, the share price of Weilai Automobile rose by 10 times in only half a year, reaching $33.4 billion. At the same time, since April last year, the product sales of Weilai Automobile have achieved year-on-year growth for nine consecutive months. With the improvement of overall development, by the end of the year, Qin, co-founder of Weilai Automobile, said that Weilai had held 40 billion yuan in cash.
Weilai Automobile invested in its own product technology research and development, but its two joint ventures with Changan and Guangzhou Automobile did not receive subsequent capital investment. Qin's statement that Weilai Automobile will not participate in the operation of the joint venture company is considered by the outside world as a sign that Weilai Automobile has withdrawn from the two joint ventures-"We will always bless and help them, but they need to find their own way." .
It is worth mentioning that GAC Weilai, which owns original brands and products, has just lost to the shortage of funds. In the case of "only 500 million investment in two and a half years, and a small amount of government support and bank loans", GAC Weilai sought strategic investment at the beginning of this year and eventually changed its name to Hechuang Smart Technology Co., Ltd., and its relationship with Weilai Automobile only exists in 4.46% of the shares.
In fact, according to Weilai Li Bin's earlier statement, the joint venture project between Weilai and Changan is actually a kind of "learning from each other's strengths": Weilai Automobile needs Changan Automobile's strength in R&D, manufacturing and supply chain, while Changan Automobile expects the advantages of the former for the needs of enterprise transformation.
However, with the unsatisfactory performance of the joint venture company, Weilai paid more attention to the development of the parent company. Changan found Huawei and Contemporary Amperex Technology Co., Ltd., and Guangzhou Automobile built Aian New Energy.
Under the "blessing" of Weilai Automobile, the two parties to the joint venture "parted ways". This is a cooperation to explore the development of intelligence and power with a new joint venture model, which has been destroyed in their respective calculations.