Chery mixed change problems!
in December 2019, Chery and Qingdao Wudaokou mix change cooperation, kicked off. Qingdao Wudaokou total investment of 14.449 billion yuan stake in Chery, Chery holding 51 respectively hold percentage, 18.51 percent stake in Chery Automobile, and replace the SASAC Wuhu, Chery became the actual controlling person.
in May 2020, Chery chairman Yin Yue statement: mix change is not yet complete, is estimated to wait until the end of August this year.
In September 2020, Chery change the mix of things still no progress. From the third-party monitoring platform, you can see the final beneficiary Chery holding occurs when changes in July, the People’s Government of Shandong Province was originally owned Assets Supervision and Administration Commission ( “SASAC of Shandong”) and Wuhu Municipal People’s Government State-owned assets supervision and Administration Commission ( “SASAC Wuhu”), currently only SASAC Wuhu. Qingdao Wudaokou in accordance with the second phase of the original 5 billion increase their investment agreement to change the mix of funds, not only did not put in place, more network transmission may terminate equity transactions.
a discerning eye glance, Chery and Qingdao Wudaokou a problem. Change the beneficiary, indicating the current variable increases. Chery’s dilemma, but also re-surfaced!
Chery’s out of control, far from being a Wudaokou bring “destruction.” 2007 Chery scenery, 380,000 domestic cars sales performance won the sales crown position, ranking second only to car prices Shanghai Volkswagen, FAW – Volkswagen and SAIC-GM-three joint venture enterprises. At that time, Chery, limelight without the two. Let’s look at the 2020 Chery, a total score of the first seven months of 261,000 (290,000 officially declared), down 23.9 percentage. Under such numbers, Chery Holding Group Chairman declared 2020 100 000 growth target for the year exceeded one million sales, not only Chery has become a joke, but also allow investors lost confidence.
facing its own brand paid off, watching the ever living in Chang’an, BYD, Great Wall solid force behind, but it appears to have CherySome powerless. Says Chery is not development, is certainly a lie, beginning in 2009, Chery turning to multi-brand strategy plan, launched Ruiqi, Wei Lin, the concept of cause, Kay wing, Dirks, Czech way, stardom and other sub-brands of the balance of 30 the new product, is supposed to compete in the political arena, the end result actually become a “struggle within Chery”, but also a sense of boring to market new name. Under the multi-brand Chery, the weakness began to appear.
In the “Do not put all your eggs in one basket” concept of Chery Yin Yue head open up the market so much, and now looks more like himself wear shackles. First, you end the frequent replacement, it appears that sell products on the substitutions of thinking, is the main channel shirk responsibility Yin old comrades, but can not shirk is the first seven months of results. March listed a whole new generation Tiggo 7 / Tiggo 7 Pro, is regarded as Chery headed masterpiece, but since the five-month total only 24,930 sales results, not month to 5,000 units, other models can not even be put the table to “show off” the.
not to expand its Chery to bring Rongchong, it touches into a hopeless Ta expansion needs money, but Chery’s sales can not be realized in time. So Chery began a “sell sell sell” life, to 260,000 in 2016 to sell 100 percent of its equity transmission plant in 2017 to 6.5 billion value will qoros change to the treasure until you find the energy arm …… after a series of operations, Chery is still out of control, so the thought of the mix change. In Yin Yue it appears that only a mix change can save Chery, do nothing now, Wudaokou capital late yet, Chery road mix change, not so smoothly.
Although Chery sold poorly, but the recall can be a lot. Body rust, brake abnormal sound, transmission failure, the engine suddenly lost control and other issues frequently, and now the total number of recalled Chery has close to 20 million units, occupying its own brand recall of more than half of the total.
August 31, day of eye investigation showed Anhui Credit Guarantee Group Limited replace Chery Holdings Limited, a Chery Automobile Co. (Chery Automobile) major shareholder stake to 31.56 percentage, Chery ranks of the controlling shareholder exit. And this means that Chery Chery Automobile Holdings divested business, it can not be real-time control in Wudaokou seems most important asset, their participation in the capital increase project Chery will become meaningless. Follow-up, Moving Forward or back, wait and see.
Guiche: alive or dead, and now is drive constant hurdle in front of Chery. I thought Wudaokou is the last straw, and now it seems it may just duckweed bloom. If no rescue themselves, who can provide a temporary relief?