Caijing.com Auto News? The actual controller of Lifan is Manjianghong Company.

Recently, China.com reported that Geely may become the actual controller of Lifan shares.

According to China Net, Geely Technology Group holds the equity of the first and second largest shareholders of Lifan Shares. The direct and indirect equity holdings may make Geely the actual controller behind Lifan Shares.

Geely Technology Group is 100% owned by Geely.

In this regard, Caijing.com Auto contacted Geely Technology Group, and the relevant person in charge responded that the report was inaccurate and all announcement information shall prevail.

On December 21, *ST Lifan (601777) issued an announcement stating that the controlling shareholder and actual controller will change.

The controlling shareholder of Lifan Co., Ltd. was changed from Chongqing Lifan Holdings Co., Ltd. (hereinafter referred to as "Lifan Holdings") to Chongqing Azuma Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Azo Fund"), Chongqing Azuma Enterprise Management Co., Ltd. (hereinafter referred to as "Azo Fund")

Azolla Company") became the actual controller of the company.

Public information shows that the managers of Lifan Shares and Chongqing Liangjiang Equity Investment Fund Management Co., Ltd. (hereinafter referred to as "Liangjiang Fund"), Geely Maijie Investment Co., Ltd. (hereinafter referred to as "Geely Maijie") and Geely, the parent company of Geely Maijie

Technology Group Co., Ltd. (hereinafter referred to as "Geely Technology Group") *** signed an investment agreement to reorganize Lifan shares.

Geely Maijie and Liangjiang Fund jointly initiated the establishment of Azolla Fund.

In addition, Geely Maijie, Geely Technology, or companies with Geely Maijie/Geely Technology holding more than 70% of the equity (hereinafter referred to as "industrial investors") will serve as the implementation entities participating in the restructuring investment of Lifan shares.

After this equity change, Azolla Fund and industrial investors became the first and second largest shareholders of Lifan shares; the proportion of Lifan shares held by Lifan Holdings dropped from the previous 47.08% to 13.75%.

Tianyancha data shows that the actual controller of Lifan Co., Ltd. Manjianghong Company was jointly established by Liangjiang Fund and Geely Maijie ***, holding 51% and 49% of the equity respectively.

Azolla Company only directly holds 0.03% of the equity of Azolla Fund.

The largest shareholder of Azolla Fund is Chongqing Liangjiang New Area Industrial Development Group Co., Ltd. (hereinafter referred to as "Liangjiang Industrial Group"), which holds 49% of the shares.

Liangjiang Fund is a wholly-owned subsidiary of Liangjiang Industrial Group.

The two major shareholders of Geely Maijie are Geely Technology Group and Hangzhou Jihang Technology Co., Ltd., the latter is a wholly-owned subsidiary of Geely Technology Group.

Although Geely directly or indirectly holds shares in Lifan, the actual controller of Lifan is Manjianghong Company.

Regarding Geely's acquisition of Lifan, Bai Yiyang of CMB International Research Department said that the promotion of Geely Technology Group's battery swap model requires cooperation in vehicle production, power battery supply, financial support and other aspects; in addition, Geely needs to lay out the southwest market, which is located on the southeast coast

The penetration rate in this region is relatively high, but in the future, China’s automobile market is expected to expand to markets such as the southwest and northwest.

Multiple factors contributed to Geely’s acquisition of Lifan.

This article comes from the author of Autohome Chejiahao and does not represent the views and positions of Autohome.