[car home? Industry]? On the evening of September 16th, Tianjin faw xiali Automobile Co., Ltd. issued the Report on the Sale of Major Assets and the Issuance of Shares to Purchase Assets and Raise Matching Funds and Related Transactions, which clarified the latest specific restructuring plan. The content shows that if the asset sale and reorganization are successfully completed, faw xiali will bid farewell to the vehicle business. This also marks that Xiali Automobile, which once belonged to the memory of a generation, will completely withdraw from the historical stage. The overall plan of this transaction consists of four parts: the free transfer of shares of listed companies, the sale of major assets, the issuance of shares to purchase assets and the raising of matching funds. According to the announcement, firstly, FAW Car Co., Ltd. intends to transfer its 697,62,651 shares in faw xiali (accounting for 43.73% of the total share capital of faw xiali before this transaction) to China Railway Materials Co., Ltd. for free. Secondly, faw xiali plans to transfer all its assets and liabilities except the 17.5% equity of Xin 'an Insurance and the remaining input tax to Tianjin faw xiali Operation Management Co., Ltd., and faw xiali plans to sell 1% equity of Xiali Operation and 17.5% equity of Xin 'an Insurance to FAW. Thirdly, faw xiali plans to issue shares to China Tiewu, Tiewu Shares, Wuhu Changmao, Structural Adjustment Fund, ICBC Investment, Agricultural Bank Investment, Runnong Credit Suisse and Yidun Fund, and purchase 1% equity of China Railway Wusheng Technology and 1% equity of Tianjin Company and Total Trade held by Tiewu Shares. Fourthly, in order to complete the above transactions and replenish working capital, the total amount of matching funds to be raised by faw xiali is no more than 1.6 billion yuan. As the controlling shareholder of the listed company after the completion of this transaction, Tiewu Co., Ltd. intends to subscribe for and raise matching funds with a total amount of no more than 4 million yuan.

"Xiali 213" faw xiali attributed the poor operating conditions to the overall decline in sales in the automobile market, the continuous tightening of national automobile product emission regulations, the weakening of the company's product brand, the deviation in positioning and configuration, the weakening of sales channels and many other factors, which led to the continued sluggish sales of the company's products. According to official data, in 218, 219 and the first quarter of 22, the main data of faw xiali's income statement are as follows: In 218, due to the transfer of 15.% equity of Tianjin FAW Toyota Motor Co., Ltd., a large investment income was generated; Since June 219, faw xiali's vehicle production has stagnated. The company's automobile production in 219 was 1,186 vehicles, down 81.4% year-on-year; The sales volume was 4,23 vehicles, down 93.69% year-on-year. The production stagnation of listed companies led to a sharp decline in the scale of main business in 219, with a loss of 1.481 billion yuan in the whole year. In November 219, faw xiali and Nanjing Bojun New Energy Automobile Co., Ltd. established a joint venture company (Tianjin Bojun Automobile Co., Ltd.). After the vehicle production qualification was transferred to the joint venture company in January 22, listed companies no longer had the production qualification, and Junpai D6, D8, A5, A7 and CX65 were no longer produced. As the company no longer manufactures complete vehicles, from January to June 22, the listed companies only realized operating income of 1 million yuan, down 65.25% year-on-year, and the net profit after deducting non-profit was-243 million yuan. It is worth mentioning that, after the completion of this transaction, the main business of listed companies will be changed from vehicle manufacturing to material supply chain management, rail operation and maintenance technical services, railway construction and other engineering materials manufacturing and integration services oriented to rail transit industry. Its main business covers all links and material units of rail transit construction, and provides materials supply, production coordination, quality supervision and bidding for rail transit industry and related markets around the fields of oil products, rails, railway mobile equipment materials and engineering construction materials. Faw xiali believes that this transaction will enhance the asset scale and profitability of listed companies.

Editor's comment: It is no accident that faw xiali came to this step. In the years when losses occurred, faw xiali has been trying to alleviate the financial pressure by selling off his property, and has sold the internal combustion engine manufacturing branch, the transmission branch, the product development center and the automobile research center. In addition, faw xiali will transfer 15% shares of FAW Toyota to FAW twice at the price of 2.56 billion yuan and 2.923 billion yuan.

"Bojun iV6』" In April this year, it was revealed that more than 2 employees went to Bojun from faw xiali in faw xiali, and they reported that there were violations of laws and regulations in the process of mixed reform between faw xiali and Bojun Automobile, because the superior knew that Bojun Automobile was "powerless" and still reorganized, which caused many employees to stop working. With the downfall of Bojun automobile, instead of innovation success, faw xiali was cornered by huge assets and liabilities. It remains to be seen whether FAW Group can be listed as a whole in a short period of time. (Text/car home? Weng Meng)