Zhonghua Group is actively expanding its armament war for diesel engines, and it also has a complete industrial chain of transmissions, axles and truck and bus OEMs.

Which three countries?

Of course, it is FAW, Dongfeng and Zhonghua Group, and it is difficult to say who will be Cao Wei who will eventually dominate the world.

The reason why only these three companies have the strength to compete in the Central Plains is because their commercial vehicle industry chain is completely opened and they can rely on their own efforts to complete the entire vehicle manufacturing.

Although SAIC acquired Ssangyong Automobile and actively deployed in the field of commercial vehicles, it was unable to effectively integrate with the Ssangyong Labor Union, and SAIC was excluded from the potential giants. As for Foton Motor, Sinotruk Group, Yutong Bus, JAC, etc., they can only be small princes on the corner side. In the face of commercial vehicle market hegemons such as FAW and Dongfeng, the only one qualified to challenge their position can only be Zhonghua Group.

Looking at the world market, automobile and diesel engine manufacturers have to rely on OEMs to survive, such as Volvo, Mercedes-Benz, MAN, etc. have their own commercial vehicle brands. The only exception is Cummins in the United States, which is independent of the main engine factory and survives by selling diesel engines to foreign countries.

Therefore, Yuchai and Weichai, independent diesel engine manufacturers in China, have shouted the slogan of building Chinese Cummins, hoping to become a transnational independent engine supplier like each other.

It's a beautiful wish, but it's almost impossible to achieve!

The reason is that the melee between FAW, Dongfeng and Zhonghua Group will never leave too much independent living space for Yuchai and Weichai. When the market share is occupied by the three companies, Yuchai and Weichai will either find another way to give up the automotive diesel engine market, or commit to selling to the right company to become a link in the other party's industrial chain.

Such a situation may be achieved in less than 10 years, and the cold facts are foreseeable in front of everyone.

Back to the present, FAW and Dongfeng only use their own engines, and Yuchai and Weichai's engines have to be sold to OEMs that do not have engines in the market, such as Zhonghua Group, Yutong, Foton and other manufacturers.

Zhonghua Group has a large share of trucks and buses, with 50,000 sales of trucks and Hongyan, and 10,000 Yaxing buses in terms of buses.

In a small market such as domestic commercial vehicles, Zhonghua Group is a well-deserved large customer, so even if Yuchai shouted the slogan of stopping the supply of engines, it only suspended part of the supply, and most of them are still supplied according to the contract.

Because if you really fall out with Zhonghua Group, then the market will be eaten by Weichai, and the company may immediately usher in an existential crisis.

In the state of market game, Han Hao calculated that Yuchai and Weichai did not dare to stop supplying, even if they knew that they would continue to raise the competitor of Greater China Group, they must also complete the sales target from their own hands and get back the supply money.

Weichai has just fallen out with its old employer, Sinotruk Group, which is also a state-owned enterprise in Qilu Province, and Sinotruk has been hovering on the verge of loss, while Weichai has made a profit year by year with the net profit of more than 30% of the engine. Nominally, Weichai belongs to the engine factory of Sinotruk, but the two sides have their own management practices, and Weichai has always had an independent attempt.

"My son is stronger than Lao Tzu, why should I listen to him? They don't make it difficult for us everywhere if they don't make it tricks in the real way, everyone has the ability to compare their results, whoever is better is the one who says, if not, they will split up and live their own lives!"

Tan Daming, the CEO of Weichai Power, who is known as "Tan Daring", did not shy away from saying at the open meeting of the whole factory, showing that the economic strongman who pulled Weichai out of the quagmire was unwilling to be left behind.

"Weichai has grown up by relying on Sinotruk, and now it wants to be independent when it has some achievements, and this kind of thinking does not take into account the overall situation, and there is a suspicion of a white-eyed wolf. ”

Ma Xinglu, the boss of Sinotruk, also went back in public, from a government official to the CEO of a state-owned enterprise, Ma Xinglu led the reform of Sinotruk out of the predicament, and also had a star halo.

The contradiction between the two parties began when Sinotruk did not allow Weichai to sell engines to the outside world and requested to only support them, while Weichai requested to sell engines to the outside world on the grounds that Sinotruk could not meet Weichai's output.

Sinotruk's annual sales hovered at 2-50,000 units, while Weichai's production capacity reached 100,000 units, and the two sides had irreconcilable contradictions in marketization. Later, under the mediation of the Qilu government, Sinotruk allowed Weichai to sell engines to foreign countries, but required that the engines supplied to it be 15-20% cheaper than the market price to maintain competitiveness.

Later, Sinotruk was ready to cooperate with Volvo to build an engine factory, so there was a competition friction with Weichai, Weichai wanted to put Volvo under its own door, and Sinotruk wanted to set up a new plant to get rid of its dependence on Weichai, and the contradiction between the two sides escalated again.

One mountain does not tolerate two tigers, and the contradictions between Sinotruk and Weichai have been accumulated for a long time, and the Qilu Provincial Government has been unable to make up its mind to adjust this freak.

You must know that with just a piece of paper, you can transfer one side of the two major mountains with different opinions, so as to effectively integrate the two state-owned enterprises.

However, the balance of power on both sides, and the support of people behind them, under the conditions of the market economy capable people, such a peculiar scene appeared in Qilu Province.

Originally, an OEM and an engine factory should be a perfect pair, but due to the incompatibility of the enterprise leaders, the two sides have been unable to integrate for a long time.

When the contradiction intensified, Sinotruk withheld the payment payable for the purchase of Weichai engines, and Weichai simply stopped the supply of engines.

Unexpectedly, when the diesel engine chaos caused by the Zhonghua Group did not subside, another big drama of portal infighting was staged in Qilu Province.

Under the premise of losing such a big customer as Sinotruk, Weichai did not dare to turn around with the other financier, Zhonghua Group.

Just when everyone thought that the commercial vehicle segment was about to go quiet, there was the shocking news that Chunghwa Group might consider acquiring a suitable diesel engine factory. Yuchai and Weichai are both targets that can be considered, in order to open up the entire industrial chain, and at the same time allow local governments to make a profit and exit.

The power of capital began to emerge from Han Hao, who promised to keep the factory and tax revenues unchanged, and was willing to buy shares in the hands of the local government at a premium to get it out, so as to integrate the diesel engine factory into the commercial vehicle corps system of the entire Zhonghua Group.

When the domestic commercial vehicles are about to form a three-country hegemony situation, the future prospects of independent diesel engine companies are very bleak, at this time out of the glove to leave is indeed in line with the appetite of the relevant local government officials.

Whether it is Yuchai or Weichai, the annual sales revenue barely reaches 10 billion, which is a small role compared with a giant like Zhonghua Group with a revenue of more than 100 billion.

"Industrial integration and cross-regional mergers and acquisitions are the direction that the country is actively promoting, and we will only use market-oriented means to find suitable targets, and will not force the administrative means of pulling and matching the model, and win-win is our greatest pursuit!"

In an interview with reporters, Han Hao did not deny his rumors in the diesel engine market.

Taking advantage of the background of local government investment promotion and obtaining the desired income with capital advantages, this killer feature is a trick that Han Hao learned from foreign capital.

In the early 90s, after the national triangular debt economic dilemma was solved, in order to reform the shortcomings of state-owned enterprises, such as lack of vitality and low efficiency, there was a wave of "introducing foreign capital to graft and transform large and medium-sized state-owned enterprises" in China. This has given many foreign capital the opportunity to buy the Chinese market, and many local booming enterprises have been forced by the government to enter into joint ventures with foreign companies, and handed over control to each other.

It can be said that the starting point is good, learning from the successful experience conveyed by the central government, and believing too much in the management ability of foreign parties, believing that "one combination is spiritual", and eating the panacea of foreign management experience can save everything, which was a tuition fee paid by governments at all levels in China that were not fully opened up at that time.

Or rather, the Chinese at that time, including officials at all levels, were too simple, and were fooled by foreign capital once and made wedding clothes for them.

The advertising slogan of "Xinfei advertising is good, not as good as Xinfei refrigerator" has been all the rage in China, and Xinfei refrigerator has since entered thousands of households. Even the old refrigerator of Han Hao's parents' house is of the brand Xinfei, and he is still in service and has not retired.

In 1994, the local government, which was as big as Rongsheng and Haier, sold its control to a Singaporean company, Hong Leong Group, in the name of transforming state-owned enterprises with foreign capital.

As one of the four Asian tigers, Singapore is the smallest in terms of land area, but it has achieved the fastest initial capital accumulation. After China's reform and opening up, Singapore soon used its own capital advantages, and its government and private enterprises began to invest in China, and the huge profits obtained were enough to rebuild Singapore.

Hong Leong Group's main business is real estate, and it has no experience in managing home appliance companies, but it is very good at capital investment, and its controlling family has just been named the richest man in Singapore with a net worth of US$2.8 billion. At that time, Xinfei refrigerator was in the limelight and sought foreign cooperation, so it saw the opportunity to enter and become the controller of Xinfei, hoping to leave arbitrage in the future.

It's a pity that 10 years have passed, Xinfei has been declining in the fierce competition in the home appliance market, and the original good hand has also been broken by Singaporeans.

When Hong Leong Group joined Xinfei, it was also looking for several promising companies in China, including the well-known Yuchai Power.

Unexpectedly, Yuchai Power is actually controlled by Singaporeans!

A real estate company in Singapore came to China to manage diesel engines in addition to electrical appliances.

Although the majority of the shares are still state-owned, Hong Leong Group, which owns a 29.3% stake in Yuchai, has a veto on business activities, and its financial officer also has the right to review the business.

In order to be listed on the New York Stock Exchange, Yuchai was a little like Jin Yangyong's imitation of the Brilliance Morning Listing, and introduced the well-funded Hong Leong Group when recruiting strategic investors.

For a long time, Yuchai's management and local government have been at odds with Singapore's foreign investors. Foreign investors demand large dividends every year, and at the same time prevent all refinancing and high investment to expand the market, which makes the two sides constantly contradictory.

Every time there is a big trouble, Hong Leong Group will use its international influence to demand Yuchai to give in on the grounds of undermining the conditions for attracting investment.

The national automobile industry policy stipulates that foreign capital is not allowed to control domestic automobile OEMs and engine factories, and the equity ratio cannot exceed 50%. However, in Yuchai, Hong Leong Group actually has the power to manipulate Yuchai by virtue of its operational and financial veto power, breaking through the country's industrial policy from the side.

Therefore, after hearing that Zhonghua Group intends to acquire it, the local government of Nangui Province, where Yuchai is located, intends to use its strength to solve this hot potato problem left over from history.

Yesterday I scolded the other party for being a thief, but I didn't expect that the other party might become my new master the next day, Yuchai felt that it was not that he didn't understand but that the world was becoming too fast.

Han Hao's acquisition of Yuchai is not only a battle between the richest men in China and Singapore, but also a showdown between China's domestic capital and foreign capital that has entered China in advance. ()

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