A few days ago? *ST Lifan (60 1777) issued an announcement on the restructuring plan (draft) and the investor's equity adjustment plan. The announcement said that Geely's acquisition of Lifan, which was circulated last year, has actually been finalized.

The specific restructuring plan shown in the announcement is: "Manjianghong Equity Investment Fund Enterprise (Limited Partnership)" jointly initiated by Geely Automobile and Liangjiang Fund, and Geely Automobile, Geely Technology or its absolute holding company with a shareholding ratio of more than 70% will become the implementation entities participating in the company's restructuring investment.

According to the announcement, the company's existing total share capital is 654.38+0.3/kloc-0.40 billion shares, including 279.3/kloc-0.30 million shares with restricted shares and 654.38+0.286 billion shares with unrestricted shares. The reorganization plan will be based on 65.438+0.286 billion tradable shares, and the capital reserve will be converted into share capital at the rate of 25 shares for every 65.438+00 shares, with a total increase of 326.5438+0.4 billion shares. These 32,654,380,400 shares are not distributed to shareholders, but are all distributed and disposed of by the manager in accordance with the provisions of the reorganization plan.

It is reported that about 965 million shares of the converted shares will be distributed to the creditors of Lifan and ten subsidiaries to pay off debts. Among them, about 400 million shares will be distributed to Lifan's creditors to pay off debts, and about 560 million shares will be provided to ten subsidiaries and distributed to their creditors to pay off debts.

After the reorganization, the controlling shareholder of listed companies will be changed from Lifan Holdings to Manjianghong Fund, and Geely Major and Geely Technology Group will become the main force to save Lifan.

As we all know, Lifan is a hot potato. According to the announcement issued by *ST Lifan in August, the undisclosed litigation (arbitration) amount of the company (including subsidiaries) in the past 12 months totaled about 298 million yuan; Involved in litigation (arbitration) 1 178, with a cumulative amount of 5.037 billion yuan. Debt-ridden, there is no doubt that Geely has left a big hole to fill.

So what is the biggest benefit of Geely's acquisition of Lifan? Some people say that the greatest value lies in the motorcycle business and the land in their hands. In fact, Geely is playing a bigger game-changing electricity market.

As a review, in May this year, as an important part of the new infrastructure, the power exchange station was written into the "Government Work Report" for the first time, and the power exchange mode also ushered in a new development situation and became the next outlet for new energy vehicles. In response to the national policy, new energy automobile enterprises are actively implementing the policy.

On September 16 this year, the release conference of Geely Technology Group's power exchange mode was held in Chongqing. Geely Science and Technology Intelligent Power Exchange Station was launched nationwide, and the power exchange mode took the lead in Chongqing Liangjiang New District. It is planned to build 35 power exchange stations in Chongqing this year. As early as July 30th this year, Chang 'an New Energy also established the Power Exchange Alliance and held a release ceremony with the theme of "Enjoy Wisdom and Run Green".

Obviously, Geely Automobile's biggest advantage in taking over Lifan is to explore the southwest "power exchange" market with the help of Lifan's existing resources. According to the announcement, the transferee conditions of industrial investors include: industrial investors will provide high-quality industrial resources to listed companies, including but not limited to helping to build Lifan into the only listed platform for Geely Science and Technology Group to manufacture battery-changing vehicles, and taking the opportunity to inject high-end intelligent networking battery-changing business to introduce listed companies with battery-changing new energy vehicle production and automobile and motorcycle industry integration opportunities highlighted in the National New Energy Vehicle Industry Development Plan (20021-2035) through asset restructuring.

To put it simply, Geely wants to use Lifan to carry out power exchange business. According to the plan, Geely will build 35 power stations in Chongqing this year and more than 200 by 2023. Lifan's Shifeng Energy and the "Panda Car" based on the power exchange mode can be used as ready-made carriers of Geely's power exchange business. As a result, Geely Automobile will also become the biggest competitor of Chongqing local car companies under the new wind.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.