Luxshare plans to establish a joint venture with Chery to produce cars. Luxshare announced that Luxshare plans to set up a joint venture with Chery New Energy, specializing in the manufacture of R&D and new energy vehicles. Luxshare plans to establish a joint venture with Chery to produce cars.
Luxshare plans to establish a joint venture with Chery to produce cars. On February 1 day, 1 1, the technology giant Luxshare announced that the company had signed the Strategic Cooperation Framework Agreement with Chery Group.
The key points are as follows: Li Xun Limited purchased 19.88% equity of Chery Holdings, 7.87% equity of Chery and 6.24% equity of Chery New Energy held by Qingdao Wudaokou for RMB 10054 million, but did not control Chery Holdings, Chery Shares and Chery New Energy. At the same time, it is planned to establish a joint venture company with Chery New Energy * *, specializing in R&D and new energy vehicle manufacturing.
Li Xun and Chery joined hands.
Many people may not be familiar with the accuracy of information. As one of the well-known technology companies in China, Luxshare focuses on the research, development, production and sales of connecting wires, connectors, motors, wireless charging, FPC, antennas, acoustics and electronic modules. Products are used in 3C (computer, communication, consumer electronics), enterprise-level equipment, automobiles, medical care and other fields.
As one of the car companies of China brand head camp, Chery Group has exceeded 654.38+million users worldwide. According to the monthly ranking of China Automobile Industry Association 202 1, "Chery Speed" ranked first in the sales growth rate of the whole industry for many months, realizing the high-quality development pattern of mutual promotion between domestic and foreign markets.
This time, Luxshare holds shares in Chery Holdings, Chery Shares and Chery New Energy, and forms a joint venture with Chery New Energy. The strong alliance between the two parties is conducive to giving full play to their respective advantages in the design and development of automobile core components, mass production platforms, and going to sea, and ultimately achieving a win-win situation.
Luxshare empowers Chery to develop more stably.
The data shows that the annual sales of Chery Group in 202/kloc-0 exceeded 960,000 vehicles, up by 3 1.7% year-on-year. Among them, overseas sales reached 269,000 vehicles, and new energy sales reached 10.9 million vehicles. At the same time, Chery Group has set a small goal for 2022: 654.38+0.5 million vehicles. This also means that this year's sales will increase by 56.26% year-on-year, and the difficulty is still there.
According to the sales data of 65438+ 10 this year, Chery actually sold 1077 10 vehicles in 65438+ 10 this month, up 20% year-on-year, reaching a record high in the same period, which ushered in a "good start" in the new year. Previously, Quange also predicted that Chery Automobile and Jietu Automobile will welcome a number of new products and modified models this year, which can guarantee the sales base of Chery Group.
At the same time, Chery also stepped on the market rhythm and launched its own hybrid technology, which is also very helpful for the promotion of brand and sales. In addition, overseas exports and new energy will become effective increments for Chery this year. After all, the official has made it clear that QQ Ice Cream+Little Ant will hit 300,000 vehicles this year, which is no joke.
This time, with the empowerment of Luxshare, the development of Chery Group will undoubtedly be more stable, and it is easier to hit the annual small target of 6.5438+0.5 million vehicles. There is a simple reason. On the one hand, the addition of Luxshare will, to a certain extent, strengthen Chery's control over some supply chains, which many car companies lack at present. On the other hand, focusing on the new energy market will inevitably strengthen Chery's right to speak in the new energy market and win more shares in the incremental market.
I believe that the development of Chery Group in recent years is obvious to all, especially 202 1. Although the COVID-19 epidemic and the "chip shortage" once put pressure on the automobile market, Chery, with its "technology Chery", has laid a solid foundation and accelerated its transformation in user thinking and Internet thinking, and its sales volume has achieved a growth trend far exceeding the market. It can be predicted that this time Luxshare will seize the opportunity to join hands with Chery Group, which is bound to produce the effect of "1+ 1 > 2".
Luxshare plans to establish a joint venture with Chery to produce cars. On the evening of February 1 1, Luxshare announced that it had signed a strategic cooperation framework agreement with Chery Holding Group Co., Ltd. and its subsidiaries. In the future, Luxshare plans to establish a joint venture with Chery New Energy, specializing in R&D and new energy vehicle manufacturing.
According to the announcement, this cooperation is to provide cutting-edge R&D, design, mass production platform and seaport for Luxshare's automotive core parts business, and realize the company's long-term goal of becoming a leading manufacturer of automotive parts Tier/Kloc-0.
Tier 1 refers to the first-class supplier of the vehicle factory, which directly supplies the whole vehicle manufacturer. The foundry of Tier 1 manufacturer is Tier 2, and so on.
Specific to the mode of cooperation, Luxshare announcement shows that the cooperative subsidiary intends to adopt a shareholding structure in which Luxshare contributes 500 million yuan to hold 30% of the registered capital, Chery New Energy subscribes 1 65438+67 million yuan to hold 70% of the registered capital, and the subscription price for each 1 yuan of registered capital is1yuan. The two sides will try their best to establish cooperation within three months after the signing of the agreement.
Regarding this cooperation, Luxshare said that Chery Holdings and its affiliated subsidiaries have been deeply involved in the automobile industry for many years, and have a complete technology and product research and development system in the vehicle field, especially an independent platform for vehicle manufacturing, which can provide Chery Automobile and other brands with comprehensive services from vehicle development to mass production, and have a leading core competitive advantage in the industry. Cooperation helps to realize the diversification and large-scale development of the company's core components.
Luxshare started as a connector product and is one of the important components of smart phones. Later, it continuously expanded its production capacity and product line, and successfully entered Apple's supply chain through acquisition 10 years ago. At present, the assembly of star products such as AirPods and iPhone for Apple also means that its OEM level is in the forefront of the industry.
With the smart phone market falling into the Red Sea, Luxshare has expanded its automotive electronics business beyond the original consumer electronics and communication products, and its powerful electronic manufacturing capability is also a very needed capability in the process of intelligent new energy vehicles. Luxshare mainly produces automotive wiring harness, electrical appliances, connectors, structural parts and other products and solutions. This cooperation can also see the transformation of Luxshare from horizontal expansion to deep expansion.
Lux share 202 1 interim report shows that consumer electronic products are still the main revenue source of the company, accounting for nearly 84% of the total revenue, and automobile-related products account for about 4% of the total revenue, accounting for 65.438+77 billion yuan.
Although the revenue is relatively small, its automobile business is growing rapidly. In 2020, the revenue of Luxshare automobile-related products will increase by 20.44%. In the survey, the management has repeatedly stated that the company's experience in consumer electronics and communication business gives it certain advantages in the application scenario of automotive electronics. "I believe that automotive electronics will be a main battlefield in Li Xun in the future."
Luxshare plans to establish a joint venture with Chery to manufacture cars. On the evening of June 1 1, Luxshare announced that it had signed the Strategic Cooperation Framework Agreement with Chery Group and planned to form a joint venture with Chery New Energy, specializing in R&D and new energy vehicle manufacturing.
It is worth noting that since the Year of the Tiger, the overall performance of A-share Apple concept stocks has been poor, and Luxshare has also been sharply adjusted back, with the latest total market value of 290.3 billion yuan. According to the data of Eastern Fortune Choice, Luxshare has fallen by 12% since the Year of the Tiger.
Qianshou Chery new energy
On the evening of February 1 1, Luxshare announced that on February 1 1, the company cooperated with Chery Holding Group Co., Ltd. (hereinafter referred to as "Chery Holdings"), Chery Automobile Co., Ltd. (hereinafter referred to as "Chery Shares") and Chery New Energy Automobile Co., Ltd.
Luxshare said that on the basis of the agreement, the company and Chery New Energy intend to form a joint venture company, specializing in vehicle R&D and new energy automobile manufacturing, providing cutting-edge R&D design, mass production platform and seaport for Luxshare's automobile core parts business, and striving to achieve the company's long-term goal of becoming a Tier 1 leading manufacturer of automobile parts.
According to the agreement, both parties do their best to facilitate the establishment of the cooperative subsidiary within 3 months after the signing of this agreement. The cooperative subsidiary plans to adopt the shareholding structure in which Luxshare (Party A) subscribes 500 million yuan and holds 30% of the registered capital, and Chery New Energy subscribes165438+67 million yuan and holds 70% of the registered capital. The subscription price for every 65,438+0 yuan registered capital is 65,438+0 yuan. After the establishment of the cooperative subsidiary, the cooperative business will be carried out as soon as possible and achieved results on the premise of compliance with laws and regulations.
Luxshare said that the signing of this strategic cooperation agreement does not constitute a major asset restructuring as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies, nor does it constitute a related party transaction, nor does it need to be submitted to the board of directors and shareholders' meeting for deliberation.
Luxshare also announced that on the day of signing the agreement, Li Xun Co., Ltd., the controlling shareholder of the company, and Qingdao Wudaokou New Energy Automobile Industry Fund Enterprise (Limited Partnership) (Qingdao Wudaokou) signed the Equity Transfer Framework Agreement, stipulating that Li Xun Limited would purchase the equity of Chery Holdings 19.88% held by Qingdao Wudaokou for RMB 10054 million. After the transaction is completed, Li Xun Limited does not control Chery Holdings, Chery Shares and Chery New Energy. Before the signing of the equity transfer framework agreement, Qingdao Wudaokou held 46.77% equity of Chery Holdings, making it the largest shareholder of Chery Holdings.
There are different opinions about Luxshare and Chery joining hands. Some investors questioned: Is Li Xun preparing for the OEM of Apple cars?
Accelerate the layout of automobile business
It is worth noting that before signing the agreement, Luxshare established an auto parts company in Wuhu, Anhui Province, where Chery is headquartered.
The national enterprise credit information publicity system shows that Lux Industrial (Wuhu) Co., Ltd. was established on June 28, 2022 with a registered capital of 20 million yuan. The business scope includes the manufacture of auto parts and accessories; Wholesale of auto parts; Electronic product sales; Manufacturing of transportation equipment and counting instruments for production; Instrument manufacturing; Retail of electronic components; Sales of new energy automobile electrical accessories; Mold manufacturing; Mold sales; Wait a minute.
20021August, Luxshare said that the company is in a leading position in automotive wiring harness business, and its customers include both domestic new car-making forces and North American new energy brand customers. This part of the product is also an important product line of the company's automobile business in the next five years. In the automotive interior part, the company also has good product modules, such as wireless charging modules, and the company has been in the forefront in this business field. In addition, in the field of in-vehicle cameras, the company fully cooperates with in-vitro companies, which also helps the company to extend in different markets and customers.
Despite the rapid growth of automobile business, its share in Luxshare revenue is still low. In the first half of 200212002, the revenue of Luxshare automobile interconnection products and precision parts was 65.438+77.4 million yuan, up 38.99% year-on-year, accounting for 3.68% of the revenue.
Since 2022, Luxshare has accelerated its investment in the automotive sector. On June 3rd, 65438/KLOC-0, Luxshare (Macheng) Automotive Electronics Industrial Park project was successfully signed. This is Luxshare's first project in the central region.