SAIC Chery concludes 20% stake in "Lang Lang" into the biggest suspense
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The news that SAIC and Chery broke up has finally been confirmed by an authoritative department after more than a year of “passing onâ€. Recently, the 56th bulletin issued by the National Development and Reform Commission in 2004 (the 79th batch of vehicle manufacturing enterprises and products) showed that “the company name of the Chery Automobile Co., Ltd. of the SAIC Group was changed to “Chery Automobile Co., Ltd.†and the confusing SAIC Chery case Finally, in the interview with this reporter, both SAIC and Chery Automobile admitted that SAIC Motor had withdrawn from Chery. Both parties told reporters that the two sides are currently negotiating how to inform everyone in a common form. There will be a clear statement in two days.It is understood that SAIC Group had officially withdrawn 20% of the shares from Chery as early as last June and signed an agreement in August of the same year, but the agreement stipulated the period of confidentiality, during the period of confidentiality. Both parties are not allowed to announce the matter to the public.The person in charge of the Chery Automobile Public Relations Department told this reporter that SAIC and Chery Automobile had indeed negotiated a good breakup last year, and both parties had originally agreed that they would not be announced before because it was said by Hu Maoyuan, president of SAIC Motor Corporation. "The SAIC must continue to help the Chery to go one step." The industry believes that Hu Maoyuan said "support Chery took a ride "probably to provide sufficient time for Chery to apply for a car production qualification from the National Development and Reform Commission. It is understood that although China has eliminated the catalogue system for access to automobile production, it still adheres to the examination and approval system and is only on the NDRC. In the announcement, only the automobile production qualification was granted, and Chery did not qualify for a car at that time, even if it had no equity contact with SAIC, Chery still needed SAIC's production list, so both parties did not disclose the matter at that time, and the name of SAIC Chery has been used up to now. It is understood that in 1999, Chery Automobile had no car production list after being off the assembly line in Wuhu and could not be sold in the country.At the end of 2000, under the coordination of relevant government departments, Chery signed an agreement with SAIC Group to transfer state-owned assets. The 20% equity of SAIC Group was allocated to the successful acquisition of the “life permit.†However, SAIC and Chery agreed not to invest, not to participate in management, not to bear debt and not to pay dividends. Industry insiders said that SAIC did not look at the development of Curious Rui at that time. The process is clearly beyond the expectations of SAIC. Chery took the fast car of China's auto industry development, and in a short period of three or four years, it has secured the top ten domestic car sales: 50,000 sales in 2002, 90,000 sales in 2003, and a sales target of 150,000 this year. Chery’s current annual production capacity has reached 350,000 units, and its engine production will reach 430,000 units. Chery is undoubtedly the fastest-growing national brand in China, and this has caused the international auto giants to feel a little bit worried. In the development process of Chery, SAIC has played a crucial role. The important role of the company is that hundreds of parts and components supporting companies for Shanghai Volkswagen are also supporting Chery, and Chery’s parts and components can even be replaced with Santana, which makes the German public very annoyed.After that, Chery QQ was accused of The Chevrolet SPARK was plagiarized, but Chery refused to admit it, and it was inevitable that SAIC, which was caught in the middle, could not break up with Chery after weighing the weight, but Chery gave it to the SAIC 20 at no cost. The current suspense is how to deal with % of equity. Xiao Guopu, vice president of SAIC Group, said this last year: “Where to go from where to where.†Therefore, the industry believes that according to this statement, it is not excluded that SAIC can also return 20% equity to Chery for free. However, some people think that Chery does not rule out the possibility of repurchase, but also does not rule out the possibility of selling this part of the equity to a third party. Oriental Morning Post reporter Qian Yujuan
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