Chapter 119 Investment Evaluation
After a long drought, 4 trillion yuan is like a timely rain, which extinguishes the false fire caused by the lack of funds in the hearts of all entrepreneurs, and the economy is thriving after the flooding.
Evergrande Real Estate finally survived the cold winter, and the bank opened the door and took the initiative to welcome it into the VIP seat. Although real estate is not included in the top ten industries supported by the state, the first means that local governments think of to revitalize the economy is to develop real estate.
Because real estate is one of the most effective means to stimulate domestic demand, and can also bring large amounts of extra-budgetary revenue to local governments to fill the funding gap, housing price control is an obsolete measure that is dispensable in the face of an economic downturn.
Even the chip project that Han Hao invested in insisted on going his own way also received a large amount of loans from the bank, and the construction funds were raised at once. Because lending has become a political task, banks must find outlets for their loans within a specified period, and an industry-wide flood has emerged.
Although Zhonghua Group is not a state-owned enterprise, it is the largest private enterprise, and it is a special target in this round of loan promotion.
"4 trillion is a chess piece that has to be played in one step, it has a certain expansion toxicity, and the top priority can only be to take medicine to consider survival, and then take into account the side effects caused in the future. ”
Han Hao knew that future economic inflation would occur, but he also admitted that 4 trillion saved the precarious Chinese economy.
"The momentum of a large amount of capital flowing into real estate has emerged, and the amount of funds needed for the transformation and upgrading of the real economy has not been met. If left unchecked, the real estate bubble will gather rapidly, and the ultra-high profit margin will cause capital to fall into the void due to profit-seeking, and the economic crisis in the United States and Japan is the first to detonate in the real estate sector. ”
As a financial expert, Yin Qingxun has first-hand information about the flow of 4 trillion yuan and 30 trillion yuan, so he is worried.
"The state should also have mastered what you and I have seen, but the choice and handling method are different depending on the height.
At least we in Zhonghua Group can make full use of bank funds to carry out transformation and upgrading research and development in this wave of bailouts.
In addition, private enterprises still receive too little financial support from banks, as one of the representatives of the Federation of Industry and Commerce, I must call on the state funds to take into account the vast number of private enterprises in addition to flooding. ”
There are only a few things that can be done individually in the tide of the times, but Han Hao still intends to do his best to make a difference for China's economic transformation. At least to the best of his ability, he will promote the upgrading and development of industries that he believes will be the core competitiveness of China's economy in the future.
Back to the auto industry, although sales did not pick up immediately, at least customers have walked into 4S stores again to start looking at cars, and invariably postponed the pick-up date to after New Year's Day, the economic stimulus policy of halving the purchase tax has achieved the expected effect, and it is expected that China's car sales will exceed the 10 million mark next year.
In particular, the Huaxia automobile outlets all over the county economy have ushered in wave after wave of people, and the majority of farmers and friends have taken advantage of the national replacement subsidy to many people have the idea of changing cars. Huaxia Light and Huaxia Hongguang, which have a good market reputation, have become their first choice for IKEA and IKEA car purchase goals.
Benefiting from the national strategy of village and village access, the purchasing power of the vast rural areas has been stimulated, and models below 3-50,000 yuan have become the mainstream of rural car purchases, and the amount of wealthy areas has been increased to 7-100,000 yuan, all of which are covered by Huaxia Automobile's products.
China Group, which has been cultivating the rural and urban and rural markets one step ahead of schedule, is about to usher in the harvest period.
If this momentum continues, relying on the huge rural market dividends, the Huaxia brand is likely to surpass the Chinese brand next year and become the main hero of the group.
The eventful year of 2008 has finally passed, and this year is full of traces of time for the Chinese people. The earthquake, the Olympics and the subprime mortgage crisis are the three elements that come to most people's minds.
Chunghwa Group continued to maintain the growth trend, completed the sales target of 5% growth set at the beginning of the year, and successfully exceeded the 3 million mark in total sales, achieving a good result of 3.06 million units.
Of course, this is 190,000 vehicles sold with the contribution of the two Jaguar Land Rover brands, so the actual growth rate is lower than expected. Considering the bad environment brought about by the subprime mortgage crisis, this figure is already outstanding compared with other peers.
Land Rover has proven itself as the world's king in the SUV segment, with more than 150,000 units sold, and this is without the company launching a new product. As for Jaguar cars, there are only 30,000 sales, and the momentum of decline is very obvious.
The company's total revenue also reached more than 290 billion, which was dragged down by the decline in sales of Jaguar Land Rover, and failed to break through the 300 billion mark. In terms of net profit, Jaguar Land Rover lost 3.2 billion yuan, making the total profit basically flat compared with last year, achieving a good result of 34.8 billion.
In addition, what satisfies Han Hao is that except for Jaguar Land Rover, the other subsidiaries of the group have achieved profitability, proving that the companies he acquired are all high-quality assets.
Needless to say, Zhonghua and Huaxia Automobile are the main forces of Zhonghua Group, relying on them to complete the sales of nearly 2.7 million vehicles.
Another major motorcycle corps continued to sing triumphantly, and exports to developing countries increased on a large scale, with a total of 9 million units in domestic and foreign markets.
By virtue of its outstanding performance in the two sessions and the Olympic Games, China Bus actively seized the local bus market and completed sales of 60,000 units in a record, surpassing the original bus overlord Yutong and Jinlong in one fell swoop, becoming the new king of the bus market.
With the advantages gained in new energy vehicles, Kunpeng Bus is invincible in the bus market, and other competitors have been defeated. With the help of the east wind obtained in the field of public transportation, China Bus will also make efforts in passenger and commuter buses this year to further consolidate its competitive advantage.
As for Zhonghua Truck, relying on the successful research and development of independent diesel high-pressure common rail technology, as well as opening up a one-stop industrial chain, it has entered the heavy truck market with cost performance. Now Zhonghua heavy truck has become the third largest heavy truck brand with Jiefang and Dongfeng, with sales exceeding 100,000 units, and the catch-up momentum is very strong.
In addition, looking at the rapid development of intercity logistics distribution, Zhonghua Truck also focuses on the light truck market. Light trucks have always been Foton and Jiangling's world, and with the launch of the national three standard diesel engines, Zhonghua light trucks have been sought after by many consumers. At least the Chinese word is a symbol of reliable quality in the automotive industry. The reputation brought by the rise of heavy trucks soon affected the light truck industry, so that the light truck market accelerated the reshuffle, and China light truck quickly caught up to the third place, reaping the results of sales of 120,000 vehicles. Although there is still a gap of 200,000 units with the leader Foton Motor, the terrifying growth rate brought by the first year of entering the industry has made the other party list China light truck as a key opponent early.
Although Foton has a joint venture with Cummins for a light truck diesel engine plant, it has not achieved a substantial lead compared with the engine parameters equipped with Zhonghua light trucks. In addition, Zhonghua Truck announced that the AMT automatic transmission specially developed for light trucks has begun testing, and if the product is successfully put into production, it will be a fatal blow to Foton.
To this end, Foton has also invested heavily in the acquisition of a company specializing in manual transmissions, just to enhance its own research and development capabilities, and also achieve breakthroughs in the field of AMT. Otherwise, once they are led by China Light Truck, they will most likely have no chance to turn over. Even if the light truck attempt is unsuccessful, China Truck has become a catfish, forcing other peers to transform and upgrade.
With the growth of automobile sales, the supply of parts for Shenzhou Precision, which is exclusively supporting these four automobile companies, is of course rising. In particular, the shipment of CVT automatic transmissions has repeatedly reached new highs, and before you know it, automatic transmissions have accounted for more than 60% of the share of Chunghwa Group's product line. In the future, when the AT production line is launched on a large scale, the performance of Shenzhou Precision is even more expected.
Another major supporting supplier, Yuchai Power, the sales brought by Zhonghua Bus and Zhonghua Truck alone are enough to make it profitable, not to mention a large number of engineering equipment from XCMG Group. It took the lead in conquering diesel high-pressure common rail technology in China, making Yuchai a big step ahead of its domestic counterparts. Entering the big family of Zhonghua Group, as an important part of the industrial chain, Yuchai has exerted the influence that Han Hao expects.
Just from the construction sites everywhere in China and the latest 4 trillion bailout funds invested, we can know how big the orders XCMG has obtained. The factory produces in three shifts 24 hours a day, but it still can't meet the needs of customers. Real estate, high-speed rail, highways, docks, etc., are all good battlefields for XCMG machinery to show its talents. Yuchai provides the engine, and Zhonghua Truck provides a special vehicle base, so that XCMG's special vehicle competitiveness has greatly increased, and continues to maintain the leading position in the domestic construction machinery industry. Regardless of Sany Heavy Industry and Zoomlion Heavy Industry to catch up behind them, XCMG's lead will not move.
The "Eight King Kongs" under the name of the China Group, all of them are extraordinary, constituting a formidable Chinese army.
Taking this opportunity, Han Hao also took stock of his personal investment assets. Depending on the role and nature, it can be divided into the following categories.
The first is the pure financial investment type, which has little to do with the main business of Zhonghua Group.
Of course, this is the two representatives of Gillette Real Estate and Evergrande Real Estate, real estate is one of the most profitable industries in China's economy, and Han Hao only has a financial investment in it. If there is an arbitrage opportunity or if he needs money, he will not hesitate to sell it.
The second is the type of strategic synergy, which is related to the main business of Zhonghua Group's automobile, and the investment is to integrate resources in the future.
For example, Internet companies such as Alibaba, Sina, AutoNavi Map, iFLYTEK, and Autohome are all companies that Han Hao invests in because he is optimistic about the future of in-vehicle interconnection systems. Tesla, on the other hand, was an enterprise that invested in new energy technology, giving Zhonghua Group the capital to make a fortune in the field of new energy.
In addition, there are financial carriers such as Zhehai Bank and Minsheng Bank, which can provide synergistic blood transfusion for Zhonghua Group.
They have overlapped or will overlap with the main automobile industry in the future, and belong to the strategic investment industry.
For such companies, Han Hao adheres to the long-term investment philosophy.
The third is the future strategic enterprise, which is related to the cornerstone of the future competition in the automotive industry, although it is not directly incorporated into the automotive industry, but still has a very important strategic role.
HiSilicon, Kunlun chips, ATL new energy batteries, etc., are all companies that need a lot of investment and cannot see output for the time being. Once you can't control it independently, you will be choked by others in the future, which is a forward-looking strategic investment.
Just from the chip industry, you can know that this is a thankless investment, but once successful, the rate of return will be amazing.
Fourth, personal interest investment enterprises, which have nothing to do with automobiles, are purely caused by Han Hao's personal interests.
Jianlibao and China Dairy are all investment decisions made by Han Hao under special circumstances, and they belong to the fourth echelon of investment. In the long run, Han Hao does not rule out letting it develop independently and become a public joint-stock company.
As for the other companies that his venture capital fund has entered, I will not list them all. In short, they have invested in high-tech innovation industries, especially those that are helpful to China's economic transformation and upgrading.