Avoiding competition, Changan automobile controlling shareholder intends to inject automobile assets

Chang ' An automobile (000625, closing price 11.76 yuan) in the market has been confirmed today, Changan automobile September 9 announcement, the company's controlling shareholder China Changan Automobile Group Co., Ltd. (hereinafter referred to Changan Group) intends to be its Jiangxi Changhe Automobile Co., Ltd.　　(hereinafter referred to as Changhe car ") 100% of the equity and Harbin Hafei Automobile Industry Group Co., Ltd. (hereinafter referred to the HA Steam group) 100% of the equity and the newly established joint venture shares into Changan Motor. The holding shareholder intends to inject the automobile assets public data to show, the Changhe automobile and the Harbin Steam Group enters Changan Group's time not to be long. December 2009, according to the national "auto industry adjustment and revitalization plan" on the promotion of auto mergers and reorganization and further optimize the strategic layout of state-owned economy, Changan automobile actual control of China Southern Industrial Group Corporation and China Aviation Industry Group Corporation to carry out auto industry reorganization, China Aviation Industry Group Corporation in the way of free transfer to the subordinate of the Changhe car 100% of the shares and Harbin Steam Group 100% of the equity transfer into Changan group.　　This part of the business with the listed company Changan Automobile formed a potential competition, in order to avoid the interests of related parties, Chang ' an group decided to transfer this part of the assets into the listed companies. Beyond the expectations of investors, Changan group to inject assets in addition to Changhe automobile and Harbin Steam Group, there is a newly established Changan Peugeot Citroen Automobile Co., Ltd. equity. Announcement, July 9, 2010, Changan Group and Kazakhstan Steam Group original partner of France Peugeot Citroen Automobile Co., Ltd. signed the joint venture contract, decided to set up Changan Peugeot Citroen Automobile Co., Ltd. According to previous media disclosure, the joint venture by the two sides of the investment 50% set up, will produce environmentally friendly light commercial vehicles and passenger cars.　　With the previous unilateral introduction of foreign models a little improvement difference is that the new joint venture company launched its own brand, but also to build research and development center. Asset injection or patience to wait for the asset injection may take a long time: According to Changan Group, "China Changan Automobile Group Co., Ltd. to the Changhe automobile and Harbin Steam injection into Changan automobile commitment letter," Two companies injected Changan automobile is in Changhe automobile and Harbin Steam Group are two consecutive years of profit, Have the ability to develop continuously and the management level is obviously improved. According to the "China Changan Automobile Group Co., Ltd. of the joint venture into Changan automobile commitment letter," China Changan will hold a joint venture stake in all the transfer to Changan automobile will be in the joint venture after the completion of the project and production. In other words, the specific asset injection implementation may be 1-2 years later.