Auto-First| Zhang Chi

With the approval of relevant authorities in Chongqing at the end of November, Geely's entry into Lifan began to enter the countdown. On December 15th, Lifan announced that it would transfer capital reserve to share capital according to the ratio of about 25 shares for every 1 shares. At the same time, Chongqing Jianghehui Enterprise Management Co., Ltd., a subsidiary of Geely, received about 9 million share transfer tickets and became an industrial investor.

according to the previous "restructuring plan", in addition to Manjianghong Fund holding 29.9% of the shares, industrial investors will also be introduced. Chongqing Liangjiang Investment Fund and Manjianghong Fund established by Geely Major are the main bodies of this Lifan reorganization. After Chongqing Jianghehui obtains another 9 million shares, Geely will take up 14.7% of Lifan shares. Since the beginning of this year, there have been three important time nodes in Lifan's reorganization.

8? Month? 21? On, the Fifth Intermediate People's Court of Chongqing ruled to accept the case of Lifan's share reorganization. And in? 22? Year? 8? Month? 21? The Decision was made on April, and the liquidation team of Lifan Company was appointed as the manager of Lifan Company, responsible for the reorganization.

11? Month? 25? On, the second creditors' meeting and the investor group meeting of Lifan's share reorganization case were called? Open, the second creditors' meeting voted through the Lifan Industrial (Group) Co., Ltd. Restructuring Plan (draft? Case), the investor group voted to pass the Restructuring Plan of Lifan Industrial (Group) Co., Ltd. (Draft)? The investor's equity adjustment plan.

12? Month? 1? On April 2, Chongqing No.5 Intermediate People's Court ruled that Lifan was approved. The whole plan ",and the termination of Lifan shares reorganization procedures. At this point, Lifan restructuring began to enter the actual operation stage.

according to the reorganization plan, what is the original total share capital of lifan? 1.314 billion shares, including restricted shares that need to be repurchased and cancelled for employee equity incentives? 28 million shares, unrestricted shares? 1.286 billion shares. According to the investor's equity adjustment plan in the Reorganization Plan, this reorganization is based on the unlimited sale condition of 1.286 billion shares of Lifan. Based on the outstanding shares, it will be increased by every 1 shares? The proportion of 25 shares shall be converted from capital reserve to share capital. * * * plan to increase? 3.214 billion shares. After the transfer is completed, the total share capital of Lifan shares is changed from? 1.14 shares increased to 4.528 billion shares, and the aforementioned 28 million restricted shares were repurchased and cancelled after meeting the conditions.

According to the Reorganization Plan, some senior executives of Lifan, such as Mou Gang, Dong Xu, Wang Yanhui and Chen Xuesong, have started to reduce their shares in the company in an orderly manner. Subsequently, the settlement of the original debt problem of Lifan will also be gradually carried out. At present, Geely is not the controlling shareholder for the time being. With the implementation of the restructuring plan, more capital may enter Geely in the future.

lifan's information shows that at present, lifan's traditional passenger cars have been discontinued. in November, the output of lifan's new energy vehicles was 145, down 67.92% year-on-year. In terms of passenger car sales, only 49 traditional passenger cars were sold in November; New energy vehicles sold 112 vehicles. Lifan's third-quarter financial report shows that Lifan achieved operating income of 2.66 billion yuan in the first three quarters, down 6% year-on-year; The net profit was-3.445 billion yuan, down over 3% year-on-year. Geely's entry into Lifan has been in full swing. Some experts predict that Geely will really take over Lifan early next year.

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