Gold Cup walks off the edge of Brilliance to solve commercial vehicles


Jinbei Automobile Co., Ltd., which has suffered losses for two consecutive years, is now on the verge of delisting. As the head of the company, this time, the chairman of Brilliance Automotive Group, Yu Yumin, intends to become a strong commercial vehicle segment.

It is still not clear whether a more niche vehicle or modified car product can successfully leverage the capital's Rubik's Cube for Brilliance's blood transfusion. However, at the moment when the Chinese car has yet to turn losses, the special car project that has entered the operation phase is undoubtedly the number of the company. One of many breakthroughs.

On July 9, Sui Yumin revealed for the first time in an interview with a number of media including “First Financial Daily” reporters that in order to further develop the company’s commercial vehicle segment, Brilliance Automotive has reorganized and completed the operations for Henan and Changzhou, Jiangsu Province. The two auto companies, with a stock ratio of 50:50 and 51:49 respectively, are preparing to develop light trucks and vans.

In the next step, Brilliance decided to increase investment in the blank areas such as special vehicles and modified vehicles. According to Yan Yumin, on the 15th of this month, Brilliance Automotive will sign an R&D center of an authorized Mercedes-Benz company in Austria to prepare for the future technical cooperation in the field of special vehicles and production of Mercedes-Benz special vehicles.

In the mid-level light vehicle market, Brilliance Group and TOYOTA Motor Corporation of Toyota Motor Co., Ltd. have formally signed a cooperation agreement. In the low-end light car market, Brilliance will continue to expand its own brand of sea lion vehicles.

All indications indicate that Brilliance’s plan to expand commercial vehicles has entered a substantial operational phase. However, in the capital market, Jinbei Automobile has attracted investors' attention again because of “ST”. In early May, the Shanghai Stock Exchange issued the “Delisting Risk Warning” for Jinbei Automobile, that is, if Jinbei Automobile continues to lose money in 2010, the company will face delisting. Dilemma.

In fact, after a series of operations, Yan Yumin has tried to increase the profitability of his three listed companies, which in turn has produced blood for the group, including the loss of the loss of Chinese sedan assets from Brilliance China, etc. However, as of now, the effect does not seem obvious. .

The report of Jinbei Automobile's first quarter this year shows that the net cash flow generated from its operating activities was approximately 76.145 million yuan, a decrease of 71.2% from the same period of last year. Yan Yumin was very helpless about Jinbei Automobile being "ST". "Now China's overall capital market is not very good. This is also one of the factors that affect it."

Unlike BYD, Chery, Geely, Great Wall Motor and Other auto makers that have taken the lead in making autos so popular, Brilliance Automotive has been struggling with how to make "Dahua Chen". According to Brilliance's product planning, this year's Brilliance Will develop nine products.

For Brilliance Automotive, which has insufficient internal funds, these new projects mean huge capital investment. According to previous plans, the end of this year is the timing node for the loss of Jinbei Automobile and Zhonghua Automobile.

In order to demonstrate the determination to lead Brilliance Automotive out of its operational difficulties, Yan Yumin not only launched the product "combination boxing", but also announced the development plan for the "12th Five-Year Plan" of the Brilliance Automotive Group in advance six months ahead of schedule. In 2015, the annual production and sales of completed vehicles will increase to 1.5 million. The company has annual production and sales of 1.5 million engines, and its annual sales revenue has exceeded 160 billion yuan.

Under the state's policy of encouraging mergers and reorganizations, Yu-Min Min was naturally aware that if enterprises could not produce greater benefits, they would inevitably become the targets of mergers. Bringing the loss-making section of the Brilliance Automotive out of the slough would be the top priority for Yan Yumin.

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