The establishment of "Kuaidi Taxi" did not cause much turmoil, and the evolution of new things always takes time to ferment, and what is more concerning is the rumor that Zhonghua Group intends to reorganize Brilliance Auto.

Although the parties strongly denied it, the news of Brilliance Auto's intention to sell itself was confirmed by many authoritative sources. Despite the rising sales of automobiles in China, companies like Brilliance Auto (i.e., no products, no joint ventures, and no profits) have found no place to stay, and their market share has been declining again and again, and they have nowhere to survive by Zhonghua Group and joint venture brands.

In order to maximize the market share target, Zhonghua Group has already been desperately expanding its production capacity, benefiting from the large-scale construction of factories before and after the subprime mortgage crisis, and has been able to take the lead in this wave of market dividends.

In the eastern Jiangzhou base camp, after Land Rover and Volvo joined, the production capacity reached a record 1.8 million units. The Wujiang City base in central China, thanks to the foundation laid by the Second Automobile, allowed Zhonghua Group to quickly put into production in the local area, the current production capacity has exceeded 1 million vehicles, and the fourth plant is preparing to start construction. In the south is the Nansha base of Guangfu City, where a large number of auto parts companies have also settled down, and Zhonghua Group has become a major profit and tax producer, with a stable production capacity of 600,000 vehicles, and is ready to upgrade and transform to tap the potential of three shifts to 800,000 vehicles. As for the western part of the country, the new plant in Rongcheng City after the earthquake has a production capacity of 450,000 units, and the planned production capacity is 900,000 units.

The four main bases alone have a production capacity of more than 4 million vehicles, and if we add the total production capacity of 1.5 million vehicles in northern Henan Province, Suwu Province, southern Hunan Province, Nangui Province, and Yuzhou Municipality, the domestic production capacity of Zhonghua Group will be close to 6 million vehicles.

Last year, Zhonghua Group's domestic sales reached a record 4.5 million vehicles, and such a large-scale expansion of production capacity will not oversupply, which is a waste of resources!

If you look at the experience of other domestic car companies, this is of course a very dangerous move, because the market capacity is limited, and it is impossible to continue to grow rapidly, and there will be a ceiling effect. However, it is an exception for the Chunghwa Group, because unlike other domestic automakers, who basically only sell in China, they also export cars abroad in large quantities, and can absorb the production capacity of no less than 1 million units.

Compared with Toyota, the automobile hegemon, the production capacity of its factory in Japan is as high as more than 4 million vehicles, of which more than 50% can be exported, and there is still great potential for Zhonghua Group's overseas market expansion.

Once it has the Brilliance Auto production base, Zhonghua Group can obtain more than 600,000 new production capacity in the northeast region, which is enough to make up for the current dilemma of short supply of automobiles.

That's right, at present, among the continuous hot sales of Zhonghua Group's products, there is great potential to become a national car.

Although it is slightly inferior to Toyota's domestic national cars, it is important to know that for every 10 cars sold in Japan, 5 belong to Toyota. Honda and Nissan each accounted for 1.5, and the remaining 2 were divided by other brands. But in China, Chunghwa Group has sold nearly 2.5 of its 10 cars, far ahead of other brands.

"Cheap, easy to open, durable, high-tech, everyone buys, cost-effective, and the brand is passable......"

These excellent reputations have created the glory of Zhonghua Group today, and outside the first-tier cities, the streets and alleys are full of Zhonghua Group's products.

During the background check on Brilliance Auto, the auditor hired by Zhonghua Group found that it had long been insolvent and had been in the red for five consecutive years. The most valuable fixed assets are the existing 317,000 square meters of old factory buildings, which can reach 500 million yuan conservatively according to the levy price of commercial land. In addition, it has two major listing platforms, Jinbei Bus (A shares) and Brilliance Auto (H shares), because Jinbei Bus is an A-share listed company, and the valuation of shell resources is also more than 200 million.

The bottom line of the reorganization of Brilliance Auto by the local government Shenjing City is to recover 317,000 square meters of old factory buildings for land renovation, and second, to get back the listed A-share shell resources of Jinbei Bus.

In other words, they hope to take away the most valuable things of Brilliance Auto and leave a mess for Zhonghua Group to clean up.

Such a request seems quite harsh, but Han Hao is not unable to agree.

Negotiations come and go, depending on how the compensation is compensated.

According to the balance sheet, Brilliance Auto is insolvent enough to go bankrupt. Even if Chung Hwa Group acquires the remaining remaining assets free of charge, it is still not cost-effective to take on a large amount of debt.

If you think about it at the extreme, Zhonghua Group can even start from scratch without intervening in the restructuring of Brilliance Auto, and can set up a new factory as a new investor.

It can be said that the initiative is completely in the hands of Han Hao, and Brilliance Auto is worth making a move, but it is not worth his big fight.

The bottom line of Han Hao's negotiations is that the government can take back the 317,000 square meters of land in the old factory area, but it will have to replace enough land in the suburbs for Zhonghua Group to build a new factory. The second is that the shell resources of Jinbei buses should be retained, and the government can hand over the H-share Brilliance Auto to the other party if needed. Again, the government wants to withdraw from the stake in Brilliance Auto, and at most retain no more than 10% of the shares.

There is a certain gap between the demands put forward by the two sides, and the negotiation process is very difficult.

There is a saying among the people that "investment is not enough in Shanhaiguan", which reflects the poor business environment in Northeast China. But for a company of the size of Chunghwa Group, it is not afraid of such factors.

In fact, the matters that the two sides are entangled in are also Han Hao's consideration of the sincerity of the Shenjing Municipal Government, although the amount of money pulled back and forth seems to be very large, as long as the profits and taxes paid by Zhonghua Group after it is put into production are enough to be deducted quickly.

The local government refused to give in, first, because it wanted to get back as many benefits as possible, and second, it was afraid of taking on the charge of losing state-owned assets, and lacked flexible means to deal with it.

According to Han Hao's idea, it is to let the local government clean the house before welcoming guests.

Bankruptcy of Brilliance Auto first, proper settlement of debt problems, and resettlement of employees. Zhonghua Group came in again to participate in the reorganization, and after throwing off the historical burden, it traveled lightly.

This is also a reference to General Motors' disposal plan after the subprime mortgage crisis, and if you want to usher in a savior, you must make a trade-off.

For this reason, the Shenjing municipal government had to report the matter to the province, hoping to get a higher level of permission.

"If you suffer the loss in the present, you can enjoy great blessings in the future.

As the country's leading private enterprise, it is a great thing for Zhonghua Group to invest in Liaoyang Province. According to their annual output of 600,000 vehicles, the annual sales are expected to reach 50 billion yuan, which can continue to maintain the economic structure of the pillar of our province's automobile industry.

Don't ask for what it has, just where it is, and it can drive local economic development. ”

After the study of the relevant meeting, the main leaders of the province agreed to the new plan proposed by Shenjing City, and decided to list Zhonghua Group as the only target of Brilliance Auto's restructuring, and let the state-owned capital withdraw in turn.

Seeing the sincerity of the local government, in order to express his gratitude, Han Hao agreed to put the second joint venture factory of China BMW in Shenjing City, specializing in the production of SUV products.

After less than 45 days of talks, the two sides finalized a restructuring agreement, and in the future, Brilliance Auto will die out and be changed to the northeast base of Zhonghua Group.

The agreement is as follows:

1. Under the guidance of the government, Brilliance Auto first went bankrupt according to market-oriented means, and properly resettled its debts and personnel. After negotiation at the creditors' meeting, everyone agreed to accept a debt disposal plan equivalent to a 75% discount of the original value, and the total debt of 820 million yuan will be repaid by the new factory of Zhonghua Group in the next five years. All the original employees are laid off, and they can retire in advance or leave the company with compensation. The remaining personnel will be re-recruited and resettled after Zhonghua Group comes in.

2. Zhonghua Group acquired 80% of the equity of the local government hand Huachen Automobile for 1.5 billion yuan, becoming the real controlling major shareholder, and the local government retained 10% of the equity in the new company.

In fact, the 1.5 billion yuan fund was only turned around in the financial account, and the special fund was earmarked for the construction of the new factory infrastructure of Zhonghua Group in the Shenjing Development Zone.

3. The 317,000 square meters of old factory buildings were allocated to the Shenjing Municipal Government for disposal free of charge for the resettlement of Brilliance Auto workers.

The government calculates the land expropriation fee of 300 million yuan to resettle and compensate workers, and if the nature of the land is changed for real estate development in the future, the land value of this old city will not be less than 1.2 billion.

4. Shenjing Chengkai Group has acquired the asset registration of H shares of Brilliance Auto, and they will control the listed Hong Kong-listed company in the future.

......

According to the agreement, Zhonghua Group has successfully taken over the assets of Brilliance Auto, newly relocated and employed 15,000 employees, and will invest 7 billion yuan to build a new plant with a production capacity of 600,000 units in Shenjing City, including the second joint venture plant of China BMW with a capacity of 30,000 units in the first phase.

The news of Zhonghua Group's successful restructuring of Brilliance Auto has shaken the domestic auto industry, which marks the beginning of mergers and acquisitions in China's auto market in the future.

A more intuitive statement is that many three-no companies like Brilliance Auto may not be able to find a receiver in the future and fall into direct bankruptcy and delisting.

Brilliance Auto is the lucky one, and it has gone to the next level when it was taken over by Zhonghua Group, and it has the qualification to live.

As the curtain fell on the restructuring of Brilliance Auto, another major event occurred in the automotive industry.

After BYD insisted on the dream of building a car for 9 years, Wang Chuanfu, the company's boss who was known as a madman, was finally willing to gamble and lose, announcing his withdrawal from the car manufacturing industry, which continued to lose money.

When he first entered the automotive industry, Wang Chuanfu once said that he would bring the company into the ranks of the world's top ten car companies in 10 years. Now, his dream was completed by Han Hao, and Chinese auto companies have reached the fourth position.

China's auto market was a blue ocean at that time, and BYD did have some opportunities, but in the face of the rapid rise of Zhonghua Group, it was a naked red sea for these small independent car companies.

No matter how the F3 is remodeled, and no matter how strong the "iron battery" is promoted, it will be inferior to the products of the Zhonghua Group, and BYD will not be able to cross the mountain of the Zhonghua Group.

The stock price has fallen to 15% of the time of listing, and BYD has been unanimously recommended by many institutions to "sell", because the road of no return to making cars seems to be impossible.

After thinking bitterly, Wang Chuanfu decided to go back to the old road, planning to learn from the foundry giant Foxconn, create a Chinese mainland version of "Foxconn", and open the foundry mode for the current boom in smartphones.

BYD announced that it will become a lithium battery supplier for technology patents such as "iron batteries" and is open to providing battery supply for other new energy vehicles in the future.

But the company's strategy has shifted from cars back to OEM.

"China needs to have its own OEM giant, independent brands to develop can not rely on Taiwanese companies like Foxconn, once the wind blows they will chase profits and leave, and BYD will always accompany the growth of independent brands."

In 10 years, BYD will become a global OEM giant, allowing the world to truly feel the terrifying power of Chinese factories. ”

Although he changed the runway, the nature of the madman has not diminished, and Wang Chuanfu still set seemingly unattainable goals for himself.