Dai Ke Sinh Fukuda Motors 24% shares equal to 25% joint venture bottom line


The two sides discussed the feasibility of project cooperation in commercial vehicles, including plans to implement the alliance of medium and heavy trucks, and authorized Foton Motor as the distributor of Dai-Ke Trucks in China.

Daimler-Chrysler (hereinafter referred to as "Dai-Ke") Daimler-Benz's stake in Foton Motor finally settled. Yesterday, Foton Motor (600166.SH) announced that Dai-ke subscribed for 297 million new ordinary shares of Foton Motor, accounting for 24% of the total share capital of Foton Motor after the completion of the directional issuance. Due to concerns about violating the existing automobile industry policy, Dai-ke subscribed the total number of shares of Foton Motor to cautiously bypass the 25% joint venture bottom line.

The announcement of Foton Motor yesterday showed that Dai-ke's subscription price per share was 2.75 yuan, which was 90% of the average closing price of the 20 trading days before the benchmark, and the total subscription price was 81.795 million yuan. At the same time, Foton Motors and Dai-ke signed the "Agreement", and the two sides discussed the feasibility of project cooperation in commercial vehicles, including the two parties intend to implement a medium and heavy truck alliance project to improve the competitiveness of Futian's current product portfolio. . The alliance also includes discussions on the possibility of authorizing Foton Motors as the distributor of the Dai-Ke Group trucks in China.

Yesterday, after the announcement of Dai-ke's shares in Foton Motor, Foton Motor's share price closed at 4.46 yuan, up 4.21%.

However, Dai Ke's shareholding in Foton Motor is only part of the framework agreement signed by both parties signed at the end of 2004. According to the cooperation agreement of three years ago, the cooperation between Dai-Ke and Foton Motor will eventually realize the domestic production of Mercedes-Benz trucks, but Dai-ke has already owned two partners, Yaxing Mercedes-Benz and Fujian Southeast Automotive, on domestic commercial vehicle projects. According to the previous automobile industry policy, whether or not it is possible to approve the cooperation between Dai-Ke and Foton Motors is doubtful.

“In the case of not completely withdrawing from Yaxing, Dai-Kexian is very sensible way to invest in Foton Motor. Foton Motor owns a decentralized shareholding structure. It is more troublesome to set up a joint venture company and it is easier to invest in shares directly.” Senior experts in the automotive industry Zhong Shi said that Dai-ke's participation in the stocks was 24%, which not only became the second largest shareholder of Futian, but also avoided violation of the joint venture's bottom line (according to regulations, foreign ownership of more than 25% of the domestic company's equity becomes a joint venture company).

Due to concerns that the violation of the automobile industry policy that a foreign-funded company may not exceed two targets for the same cooperation project, the cooperation between Foton Motors and Dai-ke is limited to the capital level. Currently, product cooperation has not yet been involved. The industry has been plagued by the introduction of Mercedes-Benz heavy trucks. Fukuda's plan has always been silent.

The purpose of the cooperation between Foton and Mercedes-Benz is not just the investment capital of several hundred million yuan. The ultimate dream of Foton Motor is to bundle itself into Mercedes-Benz and build itself into a Mercedes-Benz commercial vehicle base in China, and put Mercedes-Benz's medium-sized, heavy-duty trucks, and even commercial vehicle projects. Incorporating its own territory, it is able to get rid of “grassroots” origin and become a commercial vehicle giant that competes with the other three major automobile groups in the country.

If Dai Ke cannot withdraw from the Mercedes-Benz, the cooperation between Mercedes-Benz and Foton cannot really begin. Mercedes-Benz’s involvement in the Yaxing project resulted in 24% of the company’s shares being forced to form a trend of “advance and retreat”. Once Mercedes-Benz’s equity was withdrawn, Mercedes-Benz could realize commercial vehicle landing in Futian. It is planned that if the Yaxing Mercedes-Benz project is unable to get out of it, it can also share the economic benefits it should enjoy by investing in Foton Motor.

However, this is not good news for Foton Motor. If Dai-ke's problem in Yasushi Mercedes cannot be solved in the end, Foton Motor will not be able to truly realize its original intention of cooperation with Dai-ke.
View related topics: Beiqi Futian, Futian Automobile brand value of 22.157 billion yuan


Our company is specialized in the production of Mixing Tank company, has 50 years of manufacturing experience. Products are sold all over the world, welcome to buy our products, our company's products for the life of the mixing tank.

Stirred tank can also be called water tank, widely used in coatings, medicine, building materials, chemicals, pigments, resins, food, scientific research and other industries. The equipment can be made of carbon steel, stainless steel and other materials according to the requirements of the user's products, as well as the heating and cooling devices to meet the needs of different processes and production. The heating jacket form of electric heating, heating coil, the structure of reasonable design, advanced technology, durable, and has the advantages of simple operation, easy to use, is ideal for small investment, fast production, high yield of chemical equipment.

Mixing Tank

Mixing Tank,Stainless Steel Mix Tank,Small Mixing Tank,Sanitary Mixing Tank

Wuxi Weishitiong Machinery Co., Ltd. , http://www.madeinwst.com