· Jiangqi's listing price of 6.4 billion was absorbed by Jianghuai

After nearly three months of suspension, the overall listing plan of Jiangqi Group finally broke open. On the evening of July 10, Jianghuai Automobile (600418) announced that it intends to absorb Jianghua Automobile Group through the issuance of shares, with an estimated value of approximately 6.398 billion yuan. In addition, the non-public offering of shares will not exceed 5 yuan. 9.6 billion yuan. The company's stock has been resumed trading since July 11.
The first shot of the reform of state-owned assets in Anhui Province was launched. According to the announcement, Jianghuai Automobile intends to absorb the merger of Jiangqi Group by means of Jianghua Holding, Jiantou Investment, and Shenqin Investment to all shareholders of Jiangqi Group. After the completion of the merger, all the assets, liabilities, business and employees directly related to the business and assets of Jiangqi Group were merged into Jianghuai Automobile, Jiangqi Group was cancelled, and Jianghuai Automobile Co., Ltd. held by Jiangqi Group was also cancelled.
After the reorganization, the actual controller of Jianghuai Automobile is still the State-owned Assets Supervision and Administration Commission of Anhui Province. On the same day, Ankai Bus (000868.SZ) announced that due to the overall listing of Jiangqi Group, the controlling shareholder of the company will be transformed from Jiangqi Group into Jianghuai Automobile. The overall listing of Jiangqi Group is regarded as the first shot of the reform of Anhui state-owned assets.
According to the announcement, the book value of the net assets of the parent company of Jiangqi Group was 2.068 billion yuan, with an estimated total value of 6.398 billion yuan, and the estimated value-added rate was 206.71%. According to the adjusted price of 10.12 yuan/share, the number of shares issued this time is about 632 million shares. In view of the fact that Jianghuai Automobile currently holds 35.43% of the shares (450 million shares) of Jianghuai Automobile will be cancelled. The actual new shares of the transaction were approximately 177 million shares.
Jianghuai Automobile intends to provide financing for no more than 10 non-public offering shares of no more than 10 specific investors, with an issue price of not less than 9.1 million yuan and an issue price of not less than 9.11 yuan. The estimated number of shares is not more than 65,422,600 shares.
Jianghuai's future focus on energy conservation and environmental protection Jianghuai Automobile said that after the completion of the restructuring, the company will integrate the whole vehicle production and auto parts business, and will realize the overall listing of the automobile related business of Jiangqi Group. On the one hand, it will help to condense the core of the group. Advantageous resources; on the other hand, it is conducive to the sharing and integration of enterprise resources within the group.
Jiang Jin Group Chairman An Jin said recently that Jianghuai Automobile has placed its long-term vision on the advantages of creating energy-saving and environmental protection companies under the strategy of becoming bigger and stronger commercial vehicles and doing better and better passenger cars.
New energy will be a major attraction for the future business of JAC. At present, Jianghuai pure electric vehicle iEV4 is mainly sold in Anhui, Shanghai and Beijing. It is estimated that the cumulative sales of iEV4 will be about 500 units in the first half of the year. This year, the sales target of Jianghuai electric vehicles is 3,000 units. At the same time, Jianghuai is still developing the fifth-generation pure electric vehicle, which is expected to be listed at the end of the year.
However, in the field of traditional fuel vehicles, Jianghuai is not under pressure. Jianghuai Automobile production and sales announcement shows that in June, Jianghuai Automobile sales (including chassis) was 30,450 vehicles, down 20.90% year-on-year, of which car sales decreased by 59.73%. In the first six months of this year, Jianghuai Automobile sold a total of 242,700 vehicles, down 11.27% year-on-year.

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