Chongqing Changan Automobile Company Limited(000625) on January 18, it was announced that Chongqing Chang’an New Energy Vehicle Technology Co., Ltd., an associate of the company, had introduced investors by increasing capital and shares through public listing in Shanghai United Property Rights Trading Co., Ltd. at present, the investor has been determined. The total capital raised in this capital increase is about RMB 4.977 billion. After the capital increase is completed, the shareholding ratio of the company is diluted from 48.95% to 40.66%, and it is still the largest shareholder. Chang’an new energy is still an associated enterprise of the company and continues to be accounted with the equity method. This transaction is expected to increase the company’s capital reserve by about 657 million yuan, which has no impact on the company’s profits and losses.
It is reported that Chang’an new energy was originally a wholly-owned subsidiary of Chongqing Changan Automobile Company Limited(000625) . In December 2019, through round a financing, it introduced four war investors: Nanjing runke, Chongqing Changxin, Liangjiang Chengwei and Nanfang investment, raising a total of about 2.84 billion yuan, increasing its registered capital from 99 million yuan to about 202 million yuan, completing the goal of mixed reform of equity diversification.
According to the announcement, in the round B capital increase, Chang’an new energy plans to increase the registered capital by about 126 million yuan, that is, from 202 million yuan to about 328 million yuan. Among them, Chongqing Changan Automobile Company Limited(000625) plans to increase capital by 1.36 billion yuan (giving up the right to increase capital in the same proportion), Nanfang Industrial Asset Management Co., Ltd. plans to increase capital by 710 million yuan, BOCOM Boyu No. 1 (Suzhou) debt to equity investment fund (limited partnership) plans to increase capital by 1 billion yuan, and Chongqing Chengyuan private equity investment fund partnership (limited partnership) plans to increase capital by 700 million yuan, Wuhu Xinshi Xinhong equity investment partnership (limited partnership) plans to increase capital by 500 million yuan, Chongqing Zhongjin Keyuan private equity investment fund partnership (limited partnership) plans to increase capital by 200 million yuan, and Chongqing Nanfang industrial equity investment fund partnership (limited partnership) plans to increase capital by 180 million yuan, Chongqing Xindong Weilai No. 4 enterprise management consulting partnership (limited partnership) (employee stock ownership platform) plans to increase capital by 117.3 million yuan, southern industrial intelligent travel investment (Tianjin) partnership (limited partnership) plans to increase capital by 110 million yuan, and Zhuhai Deqing mixed reform No. 2 equity investment partnership (limited partnership) plans to increase capital by 100 million yuan.
After the capital increase, the shareholding ratio of Chongqing Changan Automobile Company Limited(000625) was diluted from 48.95% to 40.66%, Nanfang assets held 5.47%, BOCOM Boyu No. 1 held 7.71%, Chengyuan fund held 5.40%, Wuhu Xinshi Xinhong held 3.85%, Nanfang Industrial Fund held 2.50% from 1.80%, CICC Keyuan fund held 1.54% and ESOP platform held 0.90%, Southern industrial intelligent travel fund holds 0.85% and Deqing hybrid reform No. 2 fund holds 0.77%. Chongqing Changxin, Nanjing runke and liangjiangcheng who participated in the round a capital increase did not participate in this round of capital increase, and their share ratios were diluted from 17.97% to 11.08%, from 17.97% to 11.08% and from 13.30% to 8.20% respectively.
According to the financial data, by the end of September 2021, the total assets of Chang’an new energy were 6.358 billion yuan and the net assets were 540 million yuan; In the first three quarters of 2021, the operating revenue was 3.454 billion yuan and the net profit was – 1.595 billion yuan. According to the relevant appraisal report, the book value of all shareholders’ equity under the standard of the parent company is about 1.651 billion yuan, the appraisal value of all shareholders’ equity is about 7.995 billion yuan, the appreciation amount is 6.344 billion yuan, and the appreciation rate is 384.24%.
Chongqing Changan Automobile Company Limited(000625) believes that with the acceleration of the transformation and upgrading of the automobile industry and automobile consumer market to intelligent new energy vehicles, market competitors pour in one after another, the market competition is becoming increasingly fierce, and the penetration rate of new energy vehicles continues to increase, which is an important direction of the automobile market in the future. Under the new pattern, the company must accelerate the diversified financing development of Chang’an new energy and accelerate the establishment of a market-oriented competition mechanism. The sustainable and efficient development of Chang’an new energy will have a positive impact on the company’s operation and development, which is in line with the long-term strategic goal of Chang’an passenger vehicle transformation to new energy.
The company said that this round of capital and share increase is conducive to enhancing the development capacity of Chang’an new energy and establishing a more market-oriented operation mechanism. At the same time, through this round of financing, the implementation of core employee stock ownership is conducive to enhancing the development vitality of Chang’an new energy and helping to build an industry-leading leader in digital electric vehicles.
