Weichai Holding Yaxing Bus Co., Ltd. Realizes the Overall Distribution of Heavy Trucks, Passenger Cars and Core Power
The 51% stake held by Jiangsu Yaxing Automobile Group Co., Ltd., the controlling shareholder of Yaxing Bus, will be transferred free of charge to Weichai (Yangzhou) Yaxing Automobile Co., Ltd. Analysts believe that holding Yaxing Bus is the first step of Weichai Holding Group's expansion in the Yangtze River Delta, and the acquisition will help it enter the passenger car sector and make up for the shortfall of new energy.
On March 4, 2011, Yaxing Bus Company informed the controlling shareholder Yaxing Automobile Group that it had signed “About Yangzhou Yaxing Bus Co., Ltd. with Weichai (Yangzhou) Yaxing Automobile Co., Ltd. on March 3, 2011. 51% of the State-owned Shares Change Agreement, Yaxing Group intends to transfer its 112.2 million shares of state-owned shares (51% of the total shares) to Wuchai Yangzhou. Weichai Yangzhou is a State-owned wholly-owned company established by Weichai Holding Group and its wholly-owned subsidiary, a subsidiary of Shandong Heavy Industry Group Co., Ltd., and Shandong Heavy Industry Group Co., Ltd. is the SASAC of Shandong Province. Upon completion of this share change, Weichai Yangzhou will become the controlling shareholder of the company and Shandong State-owned Assets will become the ultimate controller of the company.
Yaxing Bus announced in November 2010 that Yaxing Group intends to transfer all or part of the 53.71% of the company's holdings to the direct subsidiaries of Shandong Heavy Industry Group Co., Ltd., but did not specify which company is directly under the company name. According to statistics, in 2009, Weichai Holding Group Co., Ltd., Shandong Engineering Machinery Group Co., Ltd. and Shandong Automotive Group Co., Ltd. and other companies formed Shandong Heavy Industry Group Co., Ltd. As of now, the direct subsidiaries of Shandong Heavy Industry are mainly the above three companies. . Among them, Weichai Holding Group, the controlling shareholder of Weichai Power, is the most powerful direct company that plays a leading role. Its Chairman Tan Xuguang is also the Chairman of the listed company Weichai Power and Shandong Heavy Industry Group.
In November 2009, the Yangzhou City Government signed a strategic cooperation agreement with Weichai Holding Group, and the two parties will carry out deep-level cooperation by integrating their respective advantageous resources to build Yangzhou into the automobile parts and ship power of the Weichai Holding Group in the Yangtze River Delta region. System manufacturing center. For Weichai Group, in addition to the acquisition of Yaxing Bus, it will be able to make up for its new energy shortcomings.
Weichai Power, which is part of Weichai Holdings, mainly manufactures heavy-duty vehicles and engines. In recent years, Weichai Power has also been actively deploying the entire vehicle market. It has successively entered into major vehicle manufacturers such as Shaanxi Heavy Duty Truck and Chuanjiang Automobile.
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