Chapter 645 An unavoidable figure in the history of China's automobile industry

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"Boss, Mr. Zhang has arrived!"

Wang Jue walked over and said.

"Ask him to wait in the living room for a while, and I'll change my clothes and go over right away. Guo Shouyun nodded and said.

Wang Jue answered, glanced at Qiu Yanyun, turned around and walked out.

"This little prodigal hoof is kind to you!"

"It's you I should be guarding against more than her!"

As he spoke, he handed the child in his arms to the servant next to him.

"Guo Shouyun, I've been helping you...!" Qiu Yanyun said lightly and angrily.

"Then help me more and let me see your sincerity!"

After finishing speaking, he didn't look at Qiu Yanyun's expression, turned around and walked towards the living room in front.

"This bastard is getting more and more likeable!"

Looking at the distant back in front of her, the anger on Qiu Yanyunqiao's face disappeared.

"Boss!"

Hearing the movement, Zhang Lei, who saw Guo Shouyun coming, stood up.

"Let's go, I'll take you somewhere!"

After patting him on the shoulder, the two of them left Guo's Manor in a car, and after coming to the airport, they got on Guo Shouyun's private jet Kunpeng, which was parked here.

After Wang Jue poured a cup of tea for the two, Guo Shouyun asked, "Lao Zhang, do you know Brilliance Group?"

"You know, the former Huaxia automobile manufacturing giant!"

"Tell me about it!"

After Zhang Lei nodded, "The predecessor of Brilliance Group was Fengtian Jinbei Bus Factory. The Fengtian Jinbei is a factory formed by the Fengtian Agricultural Machinery and Automobile Administration, which cobbled together more than 50 small automobile repair and parts factories, and its benefits can be imagined. In order to save the company, the Fengtian government adopted the most common method of the era, which was to make the Fengtian Jinbei Bus Factory go public. ”

"But because of the loose staff, old equipment, and lack of funds, Fengtian Jinbei is almost useless. So almost no one wants its stock. At that time, Zhao Xiyou, the director of Fengtian Jinbei Bus Factory, tried his best and only sold 27,000 shares. At this time, a man named Yang Rong appeared. ”

In 1991, Yangrong bought 46 million book-entry shares of Fengtian Jinbei at the price of the original shares. Then he came to the United States with these stocks, and with the help of Wang Fanchou, an analyst at Merrill Lynch, he was brought to First Boston as a listed underwriter. It is said that at that time, the Mukden Jinbei was a handicraft workshop, 99% of the parts were imported from Japan, and the factory toilets were leaking everywhere, and even female accountants from international accounting firms were reluctant to enter. ”

"However, at that time, China's reform and opening up, the U.S. capital market was particularly fond of the 'China concept', and they didn't know anything about the country, so the Fengtian gold cup sent to the door became the chosen object. ”

In order to go public, Yangrong quietly set up a project company in Bermuda, a small Pacific island known as a 'tax haven', Brilliance China Automotive Holdings Co., Ltd. He injected all 40% of the shares he held in Fengtian Jinbei into it. Then, on the grounds that 'the shares are only 40% and do not meet the conditions for independent listing in the United States', a share swap was arranged, expanding Brilliance's controlling stake in Jinbei Bus to 51% and becoming the controlling party. ’”

In 1992, Jinbei Automobile's A shares were listed on the Modu Stock Exchange. In October, Brilliance Company, with Jinbei Bus as its main asset, was listed on the New York Stock Exchange as the 'first stock of the SH Doctrine country', which caused a great sensation on Wall Street at that time, and was oversubscribed by 85 times, raising $72 million. The Wall Street Journal at the time also wrote a story about it. There is a sentence on it that I remember very well by now, 'This is a symbolic event, and perhaps from today onwards, SH-ism China is truly integrated into the game of capitalism'. Afterwards, Harvard Business School also included the Brilliance IPO prospectus as a classic case textbook. ”

"After the successful listing of Modu and the United States, Jinbei Bus, an automobile factory cobbled together by the agricultural machinery department, has become a well-known enterprise with the most optimized property rights in China. Yang Rong took advantage of this to become famous, he originally only planned to copy the story of the Golden Cup and bring a Chinese company to the United States to be listed, but it was stopped because of the central ban. However, at that time, the two major car brands in China, "Hongqi" and "Modu", were discontinued, and the national ministries and commissions decided to scrap all the old cars produced before 1974 within 4 years. ”

"Yangrong discovered the profits contained in the automotive industry and began to actively lay out. And in a short period of time, the 'Hiace bus' was developed. As a layman in the automobile industry, Yangrong's marketing methods are very novel, for example, Hiace Bus in the advertisement to show the price, to prevent dealers from doing tricks, the implementation of a unified national discount, to put an end to the internal personnel and dealers collusion to make profits, the financial industry of the acceptance bill system into the automobile industry company sales of 60% of the use of acceptance bills, greatly reducing the occupation rate of working capital. ”

Through these means, Fengtian Jinbei has made great progress and quickly become the leader of the domestic light bus market, with annual sales growth of 50%, leading its peers and setting an industry record of 30% return on investment. In 2000, the sales volume of Fengtian Jinbei exceeded 60,000!"

After his initial success, Yangrong's interest in the automotive industry grew, and he set his sights on the more lucrative family car industry. At that time, there were windfall profits in the automotive industry. The price of the Volkswagen Beetle with the same performance in China is 3.36 times that of the United States, 2.36 times that of Buick, and 2.8 times that of Toyota Corolla. However, after the two domestic brands of "Hongqi" and "Modu" were cleverly eliminated, there was no large-scale car industry. ”

"Yangrong is also ambitious, and in this wasteland of China, he began to build Brilliance's car industry. In 1999, he acquired Shenhua Industrial, a veteran listed company in Modu, and changed its name to 'Brilliance Group'. Introduce German technology to build a production line of 100,000 cars. ”

In addition, he also cooperated with five major international automobile companies: cooperated with BMW to jointly produce the world's best-selling BMW 3 Series and 5 Series sedans; jointly invested $230 million with General Motors of the United States to form a joint venture to produce Chevrolet trucks and SUVs; accepted Sanjiang Renault with a 55% stake to introduce Renault's family economy sedan 'Ganguo', acquired Fengtian Aerospace Mitsubishi and cooperated with Mitsubishi to produce car engines; and cooperated with Toyota to develop Toyota economy cars suitable for the Chinese market. In addition, Brilliance is working with Delphi, the world's largest auto parts supplier, to develop gasoline engines. … Yangrong calls the five collaborative projects the 'Five Golden Flowers'. ”

"Five Golden Flowers allow Brilliance to stand with the world's auto giants. However, he was not satisfied, and later hired the world-famous design master Giorgio Yarrow to preside over the design of the model, the vehicle performance verification by the international authority - the British MIRA company test identification, stamping, welding, painting, assembly four major process equipment are provided by the world-famous automotive equipment manufacturing company. All of this eventually came together into the 'Zhonghua' brand car that he personally named. ”

At this time, Yangrong can be described as a spring breeze. Under his leadership, Brilliance has also embarked on the same corporate development path as Delong Group. He first invested 410 million yuan to subscribe for 334 million shares of Guangdong Provincial Development Bank, and then participated in the establishment of Minsheng Investment Credit Guarantee Co., Ltd. with 440 million Huaxia dollars. Then it acquired 26.41% of the state shares of the listed company Zhongxi Pharmaceutical and became the company's largest shareholder. With a series of acquisitions, Brilliance's business expanded rapidly, and around 2001, it became a 'Brilliance series' with a market value of 24.6 billion Huaxia coins. It has five listed companies, namely Brilliance Group, Brilliance Jinbei and Chinese and Western Pharmaceutical in the Mainland, Brilliance China in Hong Kong, and Brilliance Auto in New York. There are 158 affiliated companies in the department, of which 138 are holding shares. ”

"Brilliance has 8 automobile production lines and more than 10 automobile and parts factories, forming an unprecedented mixed industry system of 'finance and industry' in the automotive industry in China. According to the 10-year plan released by Brilliance Auto that year, Brilliance will form three major sectors under a financial holding company: automobile, finance and infrastructure. Among them, 80% of the total output value of the bus station will achieve 1.5 million production and sales by 2010, 200 billion yuan of operating income, 20 billion yuan of profit, and become the largest automobile company in China. ”

"What a big spirit!"

Hearing this, Guo Shouyun couldn't help but say.

"That's true. When Brilliance was first announced, the whole country was in an uproar!"

After waving his hand to let Zhang Lei continue, "At that time, Yangrong could be described as infinitely beautiful, not only did he get the title of Fengtian's 'honorary citizen', but Brilliance also achieved a revenue of 6.3 billion Huaxia yuan in 2001, accounting for 60% of the light bus market, and a net profit of 1.8 billion Huaxia yuan after tax, second only to Modu Volkswagen and FAW-Volkswagen. In addition, Brilliance's Zhonghua Automobile has also begun to roll off the assembly line. ”

However, Yangrong immediately discovered that the engines of Zhonghua Motor did not match Mitsubishi, and Mitsubishi also refused to upgrade the engines. Under the introduction of BMW, Brilliance began to contact Rover. At that time, Rover was looking for buyers around the world because of losses. Therefore, the cooperation between Brilliance and Rover quickly rose from an engine to a full-fledged cooperation. According to the cooperation agreement signed by the two parties, after the joint venture, all Rover products will be moved to China for production, maintaining Rover's UK R&D center and European sales system, and among the products produced in China, the Rover brand will be used for export to Europe, and the Zhonghua brand will be used for sales in China and the Asia-Pacific region. ”

"The negotiations between the two sides took place in secret, and Rover was very cooperative. But Yang Rong made a major mistake at this time! He decided to put the Rover project in Ning~bo, Zhejiang Province, instead of Fengtian. ”

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