As the restructuring news was forced to suspend the market for nearly a month, Yunnei Power announced that the company’s actual controller Kunming SASAC has reached an agreement with China Ordnance Equipment Group to hold its holdings of Yunnei Holdings, the controlling shareholder. The 100% property rights of the internal combustion engine plant (holding a 38.14% equity interest in Yunnei Power) was transferred to China Changan Automobile Group Co., Ltd., a subsidiary of the China Ordnance Equipment Group.
As a result, China Chang'an achieved indirect control of Yunnei Power, and China Ordnance Equipment Group transformed itself into the new actual controller of Yunnei Power. This also means that in addition to Changan Automobile, China Changan has acquired a new financing platform. Changan Automobile has also issued a letter of intent for IPO and plans to raise funds of no more than RMB 4 billion through public offerings, and to deploy independent brand R&D, investment in fixed assets, brand promotion and sales network construction. In recent years, frequent acquisitions and expansions of production by Changan have been nothing more than trying to enlarge their own scale. The public offering behind this is suspected of misappropriating money.
China Changan will take Yunnei into its shoes. Undoubtedly, it hopes to make use of Yunnei’s passenger car diesel business to make up for its shortcomings. But for Yunnei, Chang'an is not the best new player in the cloud. As China Chang'an's technology accumulation in the diesel engine business is almost zero, it has virtually limited the development space and speed of Yunnei's power. Moreover, Chang'an's diesel engine passenger vehicles are still in their infancy. If the market response is deserted, it will slow down the production and sales of power within the cloud. If the purchaser of Yunnei Power is Shanghai Automotive, SAIC Motor can directly subordinate Yunnei Power to Shanghai Volkswagen's passenger car diesel engine production. The rapid growth of the enterprise itself needless to say, quite promising development prospects will allow Yunnei investors to obtain more benefits.
Chang’an’s attitude towards this free transfer of assets is rather optimistic. According to the company, entering the light commercial vehicle market has always been an important strategy of the company. Diesel engines are the core components of light commercial vehicle products. Therefore, obtaining engine resources is the key to China Changan entering the light commercial vehicle market. The high-end passenger car and light commercial vehicle business being developed by Changan will also benefit from the joining of Yunnei Power. Not only that, under the background that the 12th Five-Year Plan has raised energy conservation and emission reduction to a new height, the impact of developing the layout of the diesel engine business is even more profound.
The Kunming SASAC, the assigner of the shares, certainly did not fly Yun Yun’s cooked duck. According to China Chang'an’s commitment to the SASAC of Kunming, before 2015, Chang’an, China, will use Yunnei Power as a platform, invest RMB 1 billion to build a state-level enterprise technology center for diesel engine powertrains, and develop high-performance energy-saving and environmentally friendly diesel engines. Formed a China-based Changan diesel engine R&D, production, and export base. Under the premise of a good market response, the investment amount may increase to more than RMB 5 billion. At that time, Yunnei’s diesel engine production capacity will increase from the current 600,000 units/year to 1.2 million units/year.
As for whether the company will increase its holdings of Yunnei Power in the future, China Changan said that although there is no specific plan for adding value at present, the company may increase its holdings in Yunnei Power through the secondary market or other means within the next 12 months.
Cold Drawn Hexagonal Steel Bar
Cold drawn hexagonal steel bar, hex steel bar, hexagon steel bar is produced by cold drawing from hot rolled steel round bar. Our advantages and more services of Cold Drawn Steel Round Bar includes:
1) Wide range of diameters from 10mm to 150mm
2) Customized Length from 100mm to 12000mm
3) Good corner radius: 0.3mm to 1.5mm
4) Good straightness: 0.5mm/m to 2mm/m
5) Good roundness: 80% of diameter tolerance
6) Diameter tolerance:h9, h10, h11
7) Matched further processing: Grinding, polishing, straightening
8) Anti-rusty package
9) Full sets of testing equipment: Surface, Dimenstion. Mechanical properties testing
10) Fast delivery time
Steel Hex Bar,Hexagon Steel Bar,Cold Drawn Hexagonal Bar,Cold Drawn Hexagonal Steel Bar
SHANDONG LE REN SPECIAL STEEL CO., LTD. , https://www.sdhighstrengthsteelbolts.com