Tan Xuguang, chairman of Weichai Power, which is well-equipped with capital, is always on the lookout for prey.
On May 10, a person from the Shaanxi Provincial State-owned Assets Supervision and Administration Commission revealed to the â€œChina Businessâ€ reporter: â€œThe Shaanxi provincial government has agreed in principle that Weichai Power shall have 100% control of Shaanxi Heavy Vehicle Co., Ltd. (Shaanxi Heavy Gas). Dasha Heavy Industry's important strategic choice."
However, a few months ago, the Shaanxi Provincial Government was still preparing for the overall listing of Shaanxi Automobile Group Co., Ltd. (the second largest shareholder of Shaanxi Heavy Gas, holding a 49% stake in Shaanxi Heavy Gas). Shaanxi Automobile Group even wanted to recover Weichai Power holds 51% stake in Shaanxi Heavy Duty Truck. However, it is difficult for prey to escape Tan Xuguang's "Five Fingers". While he is deeply adjusting Shah Heavy, at the same time, Weichai Power's full control of Shah Heavy is approaching.
Encroaching on tactics
From 51% to 100%, Tan Xuguang is ready to complete in 5 years.
On August 12, 2005, after the Hunan Torch, which had a 51% interest in Shaanxi Heavy Gas, eventually fell into the Weichai Power Capsule, Weichai Power, which is eager to enter the vehicle heavy truck manufacturing segment, had a 51% interest in Shaanxi Heavy Gas. Equity. (On August 12, 2005, Weichai Power successfully acquired the Hunan Torch at a price of 1,023.3 million yuan.)
But becoming a controlling shareholder is not the ultimate goal of Tan Xuguang. On April 7, 2010, Tan Xuguang announced a development strategy at the East-West China Cooperation and Investment and Trade Fair. In the next three to five years, Weichai Power will invest another 5 billion yuan in support of its Shaanxi enterprises. In Shaanxi, a heavy-duty truck manufacturing base with heavy-duty trucks for Shaanxi Auto is built, and a key auto parts manufacturing base with Fast Transmission as a leader.
Behind this investment strategy, there is a secret hidden. An insider of Shaanxi Heavy Duty Truck Co., Ltd. said that before the Shaanxi Provincial Government had reached a tacit agreement with Weichai Power, the local government would paved the way for Weichai Power to increase its holdings of Shaanxi Heavy Industry. An informed source close to Shaanxi Zhongqi stated: "The realization of 100% stake in Shaanxi Heavy Duty Truck is a phased goal of Weichai Power's cooperation with Shaanxi local government at a higher level."
Weichai Power entered the main engine in August 2005, and then invested RMB 416 million in development funds in 2007. However, this did not fully satisfy the development of Shaanxi Heavy Duty Trucks. With regard to the funding gap, Shaanxi Heavy Duty Truck Co., Ltd. wants to go further in the increasingly fierce competition in heavy-duty vehicles. It is extremely urgent to invest more funds as soon as possible.
Once Weichai Power wholly owns Shaanxi Heavy Gas, Weichai Power, with relatively strong financial strength, can more effectively put capital and resources into Shaanxi Heavy Gas, and Shaanxi Heavy Gas can also gain greater leadership under the leadership of a single shareholder. The development of space ended the situation in which the shareholders of both parties had to negotiate endlessly on issues such as the amount of investment. â€œAfter the decision between Weichai Power and CNHTC (on March 20, 2006, the Shandong State-owned Assets Supervision and Administration Commission promulgated a document to transfer the 100% shareholding of Weichai Plant originally held by China National Heavy Duty Truck to the direct ownership of Shandong Provincial SASAC, As a result, Weichai Power has completely separated from China National Heavy Duty Truck and it is actively planning to expand in the vehicle sector. The capital increase is the performance of its heavy-duty vehicle expansion field,â€ said Jia Xinguang, a well-known analyst in the automotive industry.
Independence and anti-independence
It is Tan Xuguangâ€™s main work focus in recent years to enter the heavy truck manufacturing field. Among these, in addition to a tough wrist, Tan Xuguang has also taken the â€œanti-independence movementâ€ idea to the extreme.
In early 2009, China National Heavy Duty Truck was listed as the only heavy truck company identified by the country as responsible for regional integration. However, the integration of Sinotruk has not yet been implemented. On the contrary, Weichai Power, headquartered in Weifang, Shandong Province, has the support of local governments. Implemented drastic regional integration. On June 18th, 2009, under the management of Tan Xuguang, Shandong Weichai Holding Co., Ltd. (Weichai Power Parent Company), ShanGong Group and SAIC Motors Group integrated and formed a large Shandong Heavy Industry Group. Weichai Power is Shandong Heavy Industry Group occupies a core position and Tan Xuguang serves as Chairman of Shandong Heavy Industry.
Also in Shaanxi, Tan Xuguang, an â€œalien householdâ€, quickly gained strong support from local government in Shaanxi Province.
In August 2009, Shaanxi Automobile Group reported at its internal working meeting that Shaanxi Automobile Group's overall listing plan has been listed as a key plan of Shaanxi Province, and Shaanxi Automobile Group hopes to land on the domestic A-share market. According to the internal notification, Shaanxi Province hopes that Weichai Power will give up its controlling share in Shaanxi Heavy Duty Truck and transfer the shares to Shaanxi Automobile Group, thus smoothly loading Shaanxi Heavy Gas assets that account for 80% of Shaanxi Automobile's operating revenue. Future listed companies.
The attempt by Shaanxi Provincial Government and Shaanxi Automobile Group made Tan Xuguang extremely shocked. Then, Weichai Power quickly implemented a series of "anti-independence wars." On October 29th, 2009, Weichai Power held a science and technology innovation conference in Xiâ€™an. From the site selection to the main contents of the conference, the relevant personnel of Shaanxi Automobile Group were regarded as a high-profile adjustment of Weichai Power by Weichai Power. Reorganization will be. More importantly, through this meeting, Weichai Power obtained the â€œMeditation Pillâ€ from relevant leaders in Shaanxi Province.
Wu Dengchang, deputy governor of Shaanxi Province, said before the end of the meeting: â€œTan Xuguang, Chairman of the Board of Directors, stood at the top of the overall situation and put forward measures to solve the problem. On behalf of the Shaanxi Provincial Government, I expressed my full support to Weichai Power's efforts in strengthening Shaanxi. "Bai Anying, the director of the Shaanxi Provincial State-owned Assets Supervision and Administration Commission of the People's Republic of China (SASAC), directly stated: "On behalf of the Shaanxi Provincial State-owned Assets Supervision and Administration Commission, I will tell you responsibly that we will not toss again... We will unwaveringly support the development of Weichai Power in Shaanxi. ."
The strong expansion of Weichai Power clearly will set off a huge wave in heavy truck manufacturing. For Tan Xuguang, his next goal is to compete with China National Heavy Duty Truck Group, ranked first in China Heavy Truck Group (in 2009 Heavy truck production and sales rankings, China National Heavy Duty Truck is the first, the second name is Foton Motors [17.93 -0.99%], the third name Shaanxi Heavy Steam).
According to the goal of Weichai Power, Shaanxi Heavy Duty Truck will achieve 100,000 heavy truck production and sales in 2010, further narrowing the gap with China National Heavy Duty Truck's 140,000 target. Since 2011, Weichai Power hopes that Shaanxi Heavy Gas will achieve a full-scale overtaking of China National Heavy Duty Truck. â€œWe are facing more than competition from Weichai Power and competition in the entire industry... In 2010, we are expected to exceed 150,000 vehicles, and our strengths are expanding.â€ Guo Huanan, Director of Propaganda Department of Sinotruck, â€œChina Businessâ€ The reporter said.
In fact, during the process of Weichai Power's taking over of China National Heavy Duty Truck by means of Shaanxi Heavy Duty Truck, other heavy truck companies that are currently cooperating with Weichai Power will also feel uneasy.
According to an announcement released by Weichai Power, Weichai Power currently maintains close cooperation with many heavy-duty truck manufacturers such as Beiqi Foton Motor Co., Ltd., Baotou North-Benz Heavy-duty Truck Co., Ltd., and Anhui Jianghuai Automobile Co., Ltd. These cooperation are further deepening. For example, as early as April 28, 2006, Foton Motor signed a Strategic Alliance Framework Agreement with Weichai Power, Germany's BOSCH Corporation, and Austria's AVL Corporation. On May 10, 2010, Foton Motors was once again Chai Power signed a strategic cooperation agreement in Changsha, and the two parties will further intensify cooperation in terms of product innovation, improvement of resource allocation efficiency, joint development of markets, and establishment of market service networks.
â€œThe strategic cooperation between the two parties is a move that is in line with the market development trend. Foton Motor will effectively reduce costs by cooperating with Weichai Power and establish stronger competitiveness on the basis of collaborative use of resources.â€ Recently, Foton Motors Changsha Automobile Factory Vice Pan Linbo, director of the plant and marketing company manager, told the â€œChina Businessâ€ reporter that he did not believe that the radicalization of Weichai Power in the vehicle manufacturing field would have a negative impact on Foton.
View related topics: Weichai Power: Expanding Auto Parts Gold Industry Chain
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