v2 Chapter 645： Characters that cannot be bypassed in the history of China's auto industry

Chapter 645: Characters that cannot be bypassed in the history of China's auto industry

…

"Boss, President Zhang is here!"

Wang Jue walked over and said.

"Let him wait in the living room, I'll change clothes and go over immediately." Guo Shouyun nodded and said.

Wang Jue responded, glanced at Qiu Manyun, turned around and walked out.

"This little hoof is uneasy and kind to you!"

"Compared to her, I should be more guarded against you!"

With that, he handed the child in his arms to the servant next to him.

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

"Then help me, let me see your sincerity!"

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

"This **** is really getting more and more liked!"

Looking at the distant back in front, the anger on Qiu Man Yunqiao's face disappeared.

"boss!"

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

"Let's go, take you somewhere!"

After patting him on the shoulder, the two left Guo's Manor by car together. After arriving at the airport, they boarded the Kunpeng, Guo Shouyun's private jet parked here.

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

"I know, the former giant of Huaxia Automobile Manufacturing!"

"Tell me!"

After Zhang Lei nodded, "Brilliance Group's predecessor was Fengtian Jinbei Bus Factory. Fengtian Jinbei, on the other hand, was brought together by Fengtian Agricultural Machinery and Automobile Administration to put together more than 50 small auto repair and parts factories. It is conceivable. In order to save the company, the Fengtian Municipal Government adopted the most common method in that era, that is, listing the Fengtian Jinbei Bus Factory.”

"However, because Fengtian Jinbei was sparsely staffed, outdated equipment, and lacking in funds, it was almost useless. Therefore, almost no one wanted its shares. At that time, the director of Fengtian Jinbei Bus Factory, Zhao Xiyou, tried his best to sell only 27,000 shares. At this time, a person named Yang Rong appeared."

"In 1991, Yang Rong bought 46 million book-entry stocks of Fengtian Jinbei at the original price. Then he brought these stocks to the United States, and with the help of Merrill Lynch analyst Wang Fanchou, he took them to First Boston. To be a listed underwriter. It is said that Fengtian Jinbei at that time was a manual 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.”

"But at that time, China was reforming and opening up, and the US capital market was very fond of the 'China concept', and they didn't know much about this country, so the Fengtian Golden Cup that was presented to the door became the selected object."

"In order to go public, Yang Rong quietly set up a project company in Bermuda, a small Pacific island known as a 'tax haven', Brilliance China Automobile Holdings Co., Ltd. He injected all 40% of the shares he held in Fengtian Jinbei into it. Then On the grounds of 'only 40% of the shares do not meet the conditions for an independent listing in the United States', a share swap was arranged to expand Brilliance's holding ratio to Jinbei Bus to 51% and become the controlling party.'"

"In 1992, Jinbei Automobile A shares were listed on the Magic Capital Stock Exchange. In October, Brilliance Corporation with Jinbei Bus as its main asset was listed on the New York Stock Exchange. It was a big sensation, it was oversubscribed 85 times, and raised $72 million. The Wall Street Journal at the time even wrote a report on it. There is a sentence on it that I still remember very clearly, 'This is a symbol Sexual incidents, perhaps from today, SH China has truly integrated into the game of capitalism'. Afterwards, Harvard Business School also included Brilliance's listing prospectus as a classic case textbook."

"After the successful listing of both the Magic City and the United States, Jinbei Bus, a car factory made up of agricultural machinery departments, has become a well-known enterprise with the most optimized property rights in China. Yang Rong became famous in this battle. He originally only planned to copy Jinbei. The story of Chinese companies brought them to the United States for listing, but they died because of the central government's prohibition. However, at that time, the two major Chinese auto brands 'Hongqi' and 'Modu' stopped production, and the national ministries decided to scrap all 1974 cars within 4 years. The old cars produced before, the market vacated after scrapping, is a big cake that any car company cannot refuse.”

"Yang Rong discovered the profits contained in the automobile industry and began to actively deploy. And in a short period of time, he developed the 'Hiace bus'. As a layman in the automotive industry, Yang Rong's marketing method is very novel. Selling price, eliminating the manipulation among dealers, implementing a unified national discount price, and preventing internal personnel from collusion with dealers to make profits; introducing the acceptance bill system of the financial industry into the automobile industry company's sales volume 60% of the use of acceptance bills, greatly reducing the working capital occupancy rate.”

"Through these means, Fengtian Jinbei has made great progress all the way, and has quickly become the leader of the domestic light bus market. Its annual sales have increased by 50%, leading its peers and setting an industry record of 30% return on investment. In 2000, Fengtian Jinbei's sales volume increased by 50%. Over 60,000!"

"After winning the first battle, Yang Rong became more and more interested in the auto industry, so he turned his attention to the more lucrative family car industry. At that time, there were huge profits in the auto industry. The Volkswagen Beetle with the same performance, the price in China is the United States. 3.36 times, Buick is 2.36 times, Toyota Corolla is 2.8 times. But after the domestic 'Hongqi' and 'Modu' brands were cleverly eliminated, there is no large-scale car industry."

"Yang Rong is also very ambitious. In the wasteland of Huaxia, he began to build Brilliance's car industry. In 1999, he acquired Shenhua Industrial, an old listed company in Magic Capital, and changed its name to 'Brilliance Group'. Introduced German technology to create a car industry. A production line of 100,000 cars."

"In addition, he has also cooperated with five major international automobile companies: with BMW, a joint venture to produce the world's best-selling BMW 3-series and 5-series sedans; a $230 million joint venture with GM to produce Chevrolet trucks and SUV; accept Sanjiang Renault, hold 55%, introduce Renault family economy sedan 'Ganguo', acquire Fengtian Aerospace Mitsubishi, and cooperate with Mitsubishi to produce sedan engines; cooperate with Toyota to develop Toyota economy sedan suitable for the Chinese market. Brilliance has also jointly developed gasoline engines with Delphi, the world's largest auto parts supplier. ... Yang Rong called the five cooperation projects 'five golden flowers'."

"Five golden flowers made Brilliance stand with the world's auto giants. But he was not satisfied, and later hired the world-renowned design master George Yarrow to preside over the model design, and the performance verification of the whole vehicle was tested by the international authoritative organization - British MIRA Company. Appraisal, stamping, welding, painting, and final assembly are all provided by world-renowned automobile equipment manufacturing companies. All of them finally converged into the 'Zhonghua' brand sedan that he named himself."

"At this time, Yang Rong can be described as a spring breeze. Under his leadership, Brilliance has embarked on the same corporate development path as Delong Group. He first invested 410 million and subscribed for 334 million shares of Guangdong Development Bank; then with 440 million Huaxia Coin participated in the establishment of Minsheng Investment Credit Guarantee Co., Ltd. and then acquired 26.41% of the state shares of the listed company Zhongxi Pharmaceutical, becoming the company's largest shareholder. With a series of acquisitions, Brilliance's business expanded rapidly, and in 2001 and 2001 , has become a huge 'Brilliance Department' with a market value of up to 24.6 billion Huaxia coins. It has five listed companies, namely Brilliance Group, Brilliance Jinbei, Zhongxi Pharmaceutical in mainland China, Brilliance China in Hong Kong, and Brilliance Auto in New York. There are 158 affiliated companies, of which 138 are controlled.”

"Brilliance owns 8 automobile production lines and more than 10 complete automobile and component factories, forming an unprecedented 'financial and industrial' hybrid system in the Huaxia automobile industry. Brilliance will form three major sectors of automobile, finance and infrastructure under a financial holding company, of which 80% of the total output value of the bus station will achieve production and sales of 1.5 million vehicles by 2010, operating income of 200 billion yuan, and 20 billion yuan in sales. profit and become China's largest auto company."

"It's such a great spirit!"

Hearing this Guo Shouyun couldn't help but said.

"That's true. When Brilliance first announced it, there was an uproar across the country!"

After waving Zhang Lei to continue, "At that time, Yang Rong was very beautiful. Not only did he get the title of Fengtian's 'Honorary Citizen', but Brilliance also achieved revenue of 6.3 billion Chinese dollars in 2001, accounting for 60% of the light bus market. , the net profit after tax is 1.8 billion Chinese yuan, second only to Magic Capital and FAW-Volkswagen. In addition, the Zhonghua Automobile built by Brilliance has also begun to roll off the assembly line.”

"However, Yang Rong immediately found that the engine of Zhonghua Automobile and Mitsubishi did not match, and Mitsubishi refused to upgrade the engine. 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 engine to comprehensive cooperation. According to the cooperation agreement signed by the two parties later: after the joint venture, all Rover products will be moved to China for production, and the Rover UK R&D center and European sales system will be maintained. Among the products produced in China, the products exported to Europe use the Rover brand, and those sold in China and the Asia-Pacific region use the Zhonghua brand. Rover helped Brilliance me to upgrade the engine and put the 'Zhonghua' trademark on it."

"The negotiation between the two sides was conducted 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 Ningbo-Bo, Zhejiang Province instead of Fengtian."

………………………………………………

:. :