Editor | Lang Ming
When it comes to the big names in China's automobile industry, people can easily think of Geely Li Shufu, BYD Wang Chuanfu, Great Wall Motor Wei Jianjun, and contemporary Ampere Technology Co., Ltd. Zeng Yuquan and Wei Bin under the background of new energy vehicles in recent years. For a long time, auto parts companies and auto dealers seem to have been forgotten in the corner.
As we all know, in China's auto rich list, the wealth-making ability of auto dealers and spare parts is comparable to that of vehicle manufacturing, and even slightly ahead. According to the 2020 Forbes China Auto Rich List, among the top 25, 13 rich people come from auto parts and auto sales.
Among them, Crystal and Li Guoqiang, car dealers from Zhongsheng Holdings, ranked 6th and 12 with net worth of 34 1 billion and 25.2 billion respectively.
For Crystal himself, who is not from the automobile circle, few people may have heard of him. In fact, Crystal has long been a frequent visitor to Forbes Rich List. When the Forbes China 400 Rich List was published last year 165438+ 10 and 20 19, Crystal was ranked as10/100 million yuan.
Less than 1 year later, Crystal's wealth reached 3.41billion yuan, soaring more than10.50 billion yuan, which was very noticeable under the wailing of the epidemic.
The market found that the soaring wealth of Crystal and Li Guoqiang benefited from the rise of the company's share price. Since the beginning of June 20 19, the share price of Zhongsheng Holdings has been rising continuously, from HK$ 0/5 at that time to HK$ 50 recently, with an increase of 233%.
It is worth noting that as early as May 20-23 last year, Crystal and Li Guoqiang acquired 389,000 shares of their wholly-owned company at a price of HK$ 65,438+07.12 each, and their joint shareholding in the company increased to 57.76%.
As of September 28th, Zhongsheng Holdings had quoted 49. 1 HK$, with a total market value of11HK$ 500 million.
With the company's share price and market value rising, Crystal's remuneration is also very generous. It is understood that in 20 18, Crystal's total salary reached 20.04 million yuan, while President Li Guoqiang's salary was higher than Crystal's, reaching 22.42 million yuan.
Crystal's own business seems particularly successful. 1979 In the third year after resuming the college entrance examination, Crystal was admitted to Xiamen University with excellent results. After graduation, he was assigned to the Ministry of Foreign Economic Relations and Trade Cooperation, and later sent to Hong Kong China Resources Group to engage in automobile sales and management.
These jobs laid the foundation for him to engage in luxury car distribution. With the tide of civil servants, 1994, Crystal founded Zhongsheng Holdings, mainly engaged in the sales of Toyota cars in China.
At that time, the automobile sales in China increased rapidly, which can be said to be the best time for automobile sales in China. According to public information, in 1997, the annual sales volume of China automobile market was only1670,000, but by 20 10, this figure had already exceeded180,000.
As a result, the scale and revenue of Zhongsheng Holdings, as an automobile dealer, have also doubled. 1998, zhongsheng holdings opened the first 3S dealership and the first Nissan dealership in Toyota. Until the listing, the sales of Japanese luxury cars such as Toyota were the main force of the company, accounting for half of the sales.
It was not until the listing that the company's car agency sales gradually diversified. Up to now, the brands represented by Zhongsheng Holdings mainly include luxury brands such as Mercedes-Benz, BMW, Audi, Porsche, Lexus and Jaguar Land Rover, as well as mainstream Volkswagen brands such as Volkswagen, Toyota, Nissan and Honda.
In the first half of this year, Mercedes-Benz's sales revenue ranked first in the company, accounting for 30.8% of the group's total sales of new cars.
Also in 20 10, Zhongsheng Holdings was listed on the Hong Kong Stock Exchange and was called "the first distributor enterprise of IPO financing" by the media.
Since its listing, Zhongsheng Holdings' revenue has been increasing from 5.005 billion yuan in 20 12 to 124043 million yuan in 20 19, and its net profit has also increased from 865 million yuan in that year to 4.520 billion yuan in 20 19. During this period, Zhongsheng Holdings successively acquired Xinrong Enterprise, Bradley, Huarui, Longhua and other groups, as well as German personalized automobile expert Carlson Company.
In the first half of this year, the sales volume of new cars of Zhongsheng Holdings reached197,200, of which the sales volume of luxury cars was more than half, reaching11.170,000, a year-on-year increase of 5.7%. After-sales service also showed a growth state, achieving a revenue of 84150,000 yuan, a year-on-year increase of 6. 1%, accounting for 14.5% of the Group's total revenue.
However, as far as selling the car itself is concerned, it doesn't seem to make money. Zhongsheng Holdings disclosed in its financial report that its gross profit margin was 9.3% in the first half of the year. However, the gross profit of new car sales was 65.438+49.3 million yuan, a year-on-year increase of 654.38+03.6%. Relevant persons said that only if the scale of selling cars is large enough can we make money, otherwise the manufacturer's right to speak is higher than that of dealers, and selling the whole car will not only make money, but also make losses.
In recent years, the automobile market has been weak, but the sales of luxury cars are still strong. In 20 19, luxury car brands went against the trend, and new car sales increased by more than12% year-on-year; In the first half of this year, even under the influence of the epidemic, the sales of luxury car brands took the lead in recovering from the epidemic and achieving growth.
According to the data of the Federation, the cumulative sales of passenger cars in the first eight months of this year were 1 1.28 million, down18.32% year-on-year; In the same period, the cumulative sales volume of luxury cars was about 2.03 million, a year-on-year increase of 2.74%.
It is understood that since May, the luxury car market has sold more than 300,000 vehicles in a single month for three consecutive months. In August, 322,000 luxury cars were sold, a year-on-year increase of 32%. Among them, BMW and Mercedes-Benz led the sales, with sales increasing by 44.5% and 65,438+09.5% year-on-year, and Lexus also achieved a year-on-year growth of 27.6%.
In this context, Zhongsheng Holdings, which represents these automobile brands, has also earned a lot of money. Recently, Nomura Securities published a research report saying that it is optimistic about the long-term prospects of luxury cars, and it is expected to grow at a high-digit rate every year by 2022, so it gives Zhongsheng Holdings a buy rating.