Most popular Zoomlion wants to buy 60 shares of Ch

2022-08-07
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Zoomlion wants to buy 60% equity of Chery heavy industry by 2.1 billion yuan and is optimistic about the agricultural machinery industry

Zoomlion wants to buy 60% equity of Chery heavy industry by 2.1 billion yuan and is optimistic about the agricultural machinery industry

China Construction Machinery Information

with the investment of nearly 2.1 billion yuan, Zoomlion tries to improve its layout in the agricultural machinery sector as soon as possible

the company announced recently that it plans to participate in the bidding for 1.8 billion shares of Chery Heavy Industry Co., Ltd. (hereinafter referred to as "Chery heavy industry") at a listing price of RMB 2088 million. If the bidding is successful and the transaction is completed, the company will hold 60% of the shares of Chery heavy industry

since its registration in 2011, Chery heavy industries has rapidly expanded its business scope to include agricultural equipment, engineering machinery, special vehicles and other major fields. As one of its core businesses, the agricultural equipment business has covered dry field agricultural equipment, paddy field agricultural equipment and precision agricultural equipment

Wuhu Construction Investment Co., Ltd. (hereinafter referred to as "Wuhu construction investment") previously entrusted Anhui Changjiang Property Exchange Co., Ltd. (hereinafter referred to as "Changjiang property exchange") to publicly list and transfer 1.8 billion shares and 600million shares of Chery heavy industry

there are two parts of the transfer target: one is the 1.8 billion shares of Chery heavy industry, of which, Wuhu construction investment transferred its 780million shares of Chery heavy industry, Wuhu Yuanda Venture Capital Co., Ltd. (hereinafter referred to as "Wuhu Yuanda") transferred its 120million shares of Chery heavy industry, and Chery Holdings Co., Ltd. (hereinafter referred to as "Chery although the general election act of the executive chair was not passed in the Legislative Council") transferred its 900million shares of Chery heavy industry; Second, Wuhu construction investment transferred its 600million shares of Chery heavy industry

the assets of Zoomlion in this bidding are the first target mentioned above, accounting for 60% of the total share capital of Chery heavy industries. The initial listing price is 2.088 billion yuan

"Zoomlion will participate in the bidding for the subject shares according to the listing price of the subject shares." Zoomlion said in the announcement that the company could not ensure to become the ultimate transferee of the subject shares because the subject shares were publicly listed to solicit the intended transferee

several independent directors of Zoomlion believe that this bidding transaction is conducive to strengthening and expanding the business of agricultural machinery sector and meets the needs of Zoomlion's development strategy. They agree to this bidding transaction

at present, the board of directors of Zoomlion has authorized the chairman zhanchunxin and his authorized persons to handle all the specific matters involved in the above-mentioned bidding and transfer of the subject shares, including but not limited to the specific matters related to the bidding, the confirmation and signing of relevant agreements and all other necessary documents, and the handling of relevant approval and registration

since its inception, Chery heavy industry has made it clear that it wants to achieve a sales revenue of 100 billion yuan. Some of its original shareholders choose to withdraw. For Chery heavy industry, it is mainly to absorb new capital. "These newly introduced capital will have higher requirements in technology, management, global operation and other aspects, which can support the sound development of Chery heavy industry"

however, as the above-mentioned subject shares are still listed and traded in the public through the Yangtze River Property Exchange, such as the display value on the display board of the workstation is still incorrect, there is a risk that the subject shares will be bid by other investors. In addition, even if Zoomlion can successfully bid this time, the transaction needs to be approved by the Anti Monopoly Bureau of the Ministry of Commerce

five sectors are developing simultaneously

in the trough of China's construction machinery industry, the industry giant Zoomlion also has to face various impacts brought by the new market environment. According to the performance forecast of the company in the first half of the year, although the current period can continue to maintain profits, compared with the same period last year, the net profit attributable to the shareholders of the listed company in the current period is expected to be 872million yuan to 1.162 billion yuan, a year-on-year decline of 60%~70%

Zoomlion explained that due to the sluggish market demand for construction machinery products, the operating income of Zoomlion's concrete machinery and lifting machinery products decreased significantly year-on-year, which became one of the main reasons for the year-on-year decline in its overall net profit

by optimizing the product structure to achieve industrial coordination, this enterprise is trying to continue to grab potential dividends in the machinery field

in terms of agricultural machinery industry, zhanchunxin, chairman of Zoomlion, said that the company intends to develop heavy trucks and agricultural machinery while doing a good job in the construction machinery sector as early as an extraordinary general meeting of shareholders held on October 11, 2011. Since then, Zoomlion has made various preparations for the agricultural machinery sector. By 2013, the company established the agricultural machinery business division. In December of that year, the first agricultural machinery industrial park was settled in Bishan County, Chongqing, marking the first step in the agricultural machinery sector

Zoomlion has its own manufacturing advantages in the agricultural machinery industry, but the "recruits" driving agricultural machinery have to face fierce competition if they want to make achievements. Just take foreign investment as an example. At present, international agricultural machinery giants such as John Deere have set up camp in China through factory building, M & A and joint venture

"in the field of agricultural machinery, we will walk on two legs: M & A and independent R & D." Shenke, the Secretary of the board of directors of the company, has disclosed that the company will choose the opportunity to look for agricultural machinery M & A targets with good asset quality at home and abroad

it is understood that at present, the high-end market of the domestic agricultural machinery industry is monopolized by foreign brands. Zoomlion hopes to quickly form a complete agricultural machinery production, R & D and marketing network system through domestic mergers and acquisitions, and then graft overseas high-end technologies through overseas mergers and acquisitions to improve its technical strength and build an international agricultural machinery industry covering both domestic and foreign countries

at present, Zoomlion has five business segments, namely, engineering machinery, agricultural machinery, environmental protection equipment, heavy trucks, but with extremely high strength and financial services. In the first half of this year, the company achieved a good growth in the revenue of environmental sanitation machinery products and overseas sales revenue. "If each sector can achieve good foundation, clear strategic positioning and stable development, the prospect of Zoomlion will be better." Zhan Chunxin said

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