According to the website of the Nanjing SASAC, on July 25, Zhuhai Yinlong New Energy Co., Ltd. (hereinafter referred to as Yinlong), the chairman of Gree Electric Appliance Co., Ltd., acquired Dong Mingzhu’s shares and acquired the Nanjing Bus Factory Co., Ltd. (hereinafter referred to as Nanjing Bus) framework. The signing ceremony of the agreement was held at Nanjing Xingong Group.
Nanjing Bus: Annual sales of more than 3,000 commercial buses
According to public information, the Nanjing Bus Factory was established in 1991 with a registered capital of RMB 50 million and covers an area of ​​more than 150 acres. It is a national key automobile modification and production bus company, and currently has the capacity to produce and sell more than 3,000 vehicles per year for commercial buses. .
In terms of shareholding structure, the Nanjing Big Bus Auto Parts Co., Ltd. and Nanjing Dongyu Auto Group Co., Ltd., two major shareholders of Nanjing Bus, respectively hold 80% and 20% of their shares.
Judging from the principal operations of Nanjing Bus and its shareholders, Yinlong’s acquisition of Nanjing Bus helps it expand its components in the automobile manufacturing industry chain and improve its industrial chain layout.
As for the details of the acquisition plan, Yinlong responded to Huaxia Energy Network, saying that “Nanjing Bus Factory is a national key automobile modification and production bus company, and it has reached an annual production and sales capacity of more than 3,000 vehicles. Our company has indeed acquired the The Nanjing Bus Factory has signed the relevant framework agreement, and specific details will be announced on schedule."
At present, Nanjing Bus Factory, the second largest shareholder of Nanjing Bus Factory, is a wholly-owned subsidiary of Dongyu Automobile Group. Nanjing Special Automobile Manufacturing Factory Co., Ltd. has just been reported by the Ministry of Industry and Information Technology at the end of last month to apply for the qualification of new energy vehicle promotion and application models.
It seems that Yinlong's acquisition of a Nanjing bus is a matter of its production capacity and lays a solid foundation for Nanjing Yinlong New Energy Industrial Park.
In addition to the acquisition of Nanjing buses, the strategy of Yinlong's industrial parks throughout the country has gradually surfaced.
Can 30 billion sales target be achieved?
Despite the late start, Yinlong’s rapid development has been extremely rapid.
In September 2014, 12 pure electric antique sightseeing buses produced by Yinlong were officially opened in Beijing. At this time, the cross-border new energy vehicle company formally entered the public eye.
At the end of 2015, Zhuhai Yinlong was ranked among the top ten in sales of pure electric buses.
In 2016, Yinlong pure electric bus sales orders exceeded 6200 units, an increase of 110% compared to 2015.
According to Gree Electric's announcement before this, Zhuhai Yinlong is expected to realize sales revenue of RMB 30 billion in 2017.
According to this statement, Zhuhai Yinlong's target for 2017 is 30,000 capacity, with a sales target of 30 billion yuan. The 2020 capacity target is to reach 100,000 vehicles.
The reporter believes that Yinlong’s emboldened release of such rhetoric has a lot to do with the deeper business cooperation between Yinlong and Gree.
In February of this year, Gree Electric announced that the company will sign an agreement with Zhuhai Yinlong. Both parties and their subsidiaries and branch companies will use their respective industrial advantages in smart equipment, molds, casting, automotive air conditioning, electrical control of electric motors, new energy vehicles, and storage. Can cooperate in other fields. Under the same conditions, one party will preferentially purchase the other’s products and purchase the other’s services. Taking one year as a cycle, the mutual preferential purchases and total amounts of both parties shall not exceed RMB 20 billion.
The original announcement stated that the cooperation between the two parties involved technical licensing and process disclosure. On the premise of the signing of the confidentiality agreement between Party A and Party B, Party A (which should be Zhuhai Yinlong) shall open the following to Party B (which shall be Gree Electric Appliances): the production process flow of battery materials, batteries, electrical control of motor, complete vehicle and energy storage and Technology, open supply chain resources for new energy vehicles and energy storage businesses, etc.
According to an exclusive interview with a reporter from Huaxia Energy Network, people inside Yinlong learned that in the first half of this year, Yinlong has sold a total of 1,432 new energy buses, ranking the top in the industry.
Recalling the previous data, in 2016, Yinlong sold a total of more than 5,000 pure electric buses, the overall revenue was 7.898 billion yuan and the total assets of the company was RMB 19.1 billion.
Taking into account the normal status of car sales "Jin 9 Silver 10" (but also for passenger cars), it is estimated that there will be a small outbreak in Yinlong in the second half of the year.
Yinlong maintains a positive attitude towards the target of 30 billion yuan. Yin Long said that Yinlong New Energy's role in the bus market in the second half of the year will be even more attractive.
In addition, Yinlong's detailed response to Huaxia Energy Network stated: “In the newly released 1-5 batch of new energy models recommended catalog in 2017, Yinlong New Energy has more models per batch, ranking before the industry. For example, for the 4th batch of models, Yinlong New Energy ("Shijiazhuang Zhongbo Auto" and "Zhuhai Guangtong Auto" are counted in Yinlong) not only have the largest number of models listed (27 models), but enjoy 1.2 times oversubsidy. The number of models is also the largest (24 models). From the cumulative list of recommended catalogs for 1-5 batches of models, Yinlong New Energy has a total of 71 models of pure electric buses, the number of which ranks fourth in the new energy bus industry, and the number of models in pure electric buses. On the other hand, it jumped to the top of the industry."
However, taking into account the overall performance of new energy buses in the first half of this year, the reporter really took Khan's 30 billion sales, annual sales of 30,000 targets.
(Note: According to statistics from the China Bus Statistical Information Network, in the first half of this year, a total of 17,952 new domestic energy passenger car markets with a market size of more than 5 meters were sold, a year-on-year decrease of 47.14%.)
What kind of company is Silver Long, which has been favored by Miss Dong?
It has to be said that Yinlong’s reputation in recent years is inextricably linked to that of Gree Dong Mingzhu’s “Miss Dongâ€.
On February 23, 2016, Gree Electric (000651) issued a suspension notice, saying that it is planning to issue shares for asset purchases. On March 7th of the same year, Gree again issued an announcement stating that the target of the transaction was Zhuhai Yinlong New Energy Co., Ltd.
At present, Dong Mingzhu’s shareholding in Yinlong has increased to 17.46%, becoming the second largest shareholder of Yinlong. It was calculated based on a valuation of RMB 13.4 billion after Zhuhai Yinlong’s capital increase and expansion in December last year. Dong Mingzhu obtained 17.46% stake. It needs 2.34 billion yuan. The largest shareholder is Guangdong Yintong Investment Holding Group Co., Ltd., holding 25.99% of the shares.
According to the company's industrial and commercial information, as of March 31, 2017, the registered capital of Yinlong has reached 1.103 billion yuan, and the number of promoters has expanded to 24.
In May this year, Yinlong sprint IPO has been registered for registration. If Yinlong actually lands on A shares, investors such as Wang Jianlin and Liu Qiangdong who initially followed Dong Mingzhu’s stake in Yinlong are expected to benefit from it.
From this point of view, Miss Dong's dream of building a car has been all pledged to the company in Yinlong. However, Dong Longzhu’s Yinlong investment is not a traditional automobile manufacturer.
According to official data, Zhuhai Yinlong is a company that was established in 2009 and is a company that has entered the field of new energy vehicles “cross-borderâ€.
In 2012, Zhuhai Yinlong obtained the qualification for vehicle production by acquiring Zhuhai Guangtong Automobile Co., Ltd.
In May 2013, Yinlong also wholly acquired the Shijiazhuang Zhongbo Automobile Co., Ltd. of “Shijiazhuang Zhongbo Automobile Industrial Park†in Hebei Province, together with “Hebei Yinan New Energy Industrial Parkâ€, which together constituted the “two districts and three parks†of Yinlong Group. ".
The three vehicle production bases in Zhuhai, Guangdong, Shijiazhuang, Hebei, and Wuhan, Hebei represent the Yinlong R&D and manufacturing capabilities in the new energy sector. After completing the above acquisitions, Yinlong has completed the closed cycle industrial chain from vehicle manufacturing to key components and charging equipment such as batteries, motors, and electronic controls.
This year, we cannot know whether Yinlong can achieve its revenue target of RMB 30 billion. We cannot judge whether Yinlong can control this market in the future. However, the layout of the seven major industrial parks, the signing of mutual procurement contracts of 20 billion yuan, the acquisition of Nanjing passenger car manufacturing plants, the preparation of IPOs, and the establishment of a new national headquarters, Yinlong's strategic layout this year indicates that its corporate development has entered the fast lane.
Yinlong said that as of today, Yinlong New Energy has three production bases in Zhuhai, Shijiazhuang and Wu'an, plus Zhuhai Yinlong (Chengdu) New Energy Industrial Park Base to be put into production. Zhuhai Yinlong Lanzhou is under construction. New District new energy bus production base and Yinlong New Energy Nanjing base, as well as the Panzhihua base is being laid out. In the next 2-3 years, Yinlong New Energy will have seven major production bases covering all major areas.
In May this year, Yinlong established the Yinlong New Energy (Nanjing) Industrial Park in Nanjing's Qishui Economic Development Zone and plans to invest 10 billion yuan. According to the plan, Nanjing Base will be able to annually produce 30,000 pure electric commercial vehicles, 2.5 billion Ah batteries and 400,000 start-stop power supplies.
Two days after the acquisition of Nanjing Bus, the Yinlong New Energy Industrial Park and the national headquarters project of Yinlong New Energy, with a total investment of more than 195 billion yuan, was also started in Jinwan District, Zhuhai.
According to media reports, the project plans to add a total of about 19.5 billion yuan in total investment. It plans to use about 2,400 to 5,000 acres of land for planning in the New Energy District of Jinwan District, and establishes and establishes the Zhuhai Yinlong New Energy Industrial Park and the national headquarters to become a China and the world. The most modern industrial bases for batteries, electric vehicles, energy storage systems, motors, and electric controls meet the requirements of an annual output of 3 billion Ah lithium titanate batteries, 60,000 sets of hydrogen fuel cells, 10,000 pure electric buses, and 500,000 pure electric vehicles. Passenger car, 1000MWh energy storage system, 60,000 sets of motor electronically controlled integrated systems, 60,000 sets of new energy vehicles for charging equipment and battery industry base.
In fact, the acquisition of a bus in Nanjing is not a bad idea. The plan to build a new Nanjing Industrial Park is just an important step for Yinlong to deploy new energy vehicles.
Dong Mingzhu unconditionally optimistic about the next one billion investment Yinlong, chairman Wei Yincang said that energy storage is a "giant gambling." Why?
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