Before FAW listed seven problems must break

Four years ago, Dongfeng listed in Hong Kong, taken as a whole. One year on, SAIC also parts company with its smooth realization of the overall market, followed by the rapid expansion of the two companies taking the pace of development. However, as the "Republic of the eldest son" of the FAW Group has listed the road seems relatively slow. In March 2006, FAW was the external expression of the wish of the overall market. While the next two years, China's stock market, auto market all the way climb up the outside environment, Reverse parking sensor Unfortunately, the FAW for various reasons could not catch the stock market's "ride." Now, faced with the outside world as a whole listing of speculation FAW, FAW has given "temporarily listed as a whole," answer. What is behind this kind of unspoken difficulties do?

Difficult one: public method Mi Ju

"This year, basically impossible." Recently, rumors against the FAW listed as a whole, Zhang Xin, an auto analyst at Guotai Junan that issued a clarification notice in the FAW, this year is not the market.

However, things calm, but the wind will not subside. FAW listed in within the "discretion" at the same time, the outside world has maintained its market speculation.

Opportune time to find

In 2005, Dongfeng Motor Group in Hong Kong to achieve the overall IPO market; in 2006, SAIC Shanghai Automotive to achieve the overall backdoor listing. Subsequently, the two companies have achieved rapid development.

Last year, FAW, SAIC and Dongfeng's sales were 1.53 million, 1.72 million, 132 million units, sales of the three growth rates were 6.75%, 10.72%, 16.12%. The leading face of SAIC and Dongfeng in hot pursuit, as "the eldest son of the Republic" and FAW pressure is self-evident. The FAW Group, though they have four A-share listed companies, asset securitization rate is not high.

"It was almost SAIC, Dongfeng Motor Group also started operating two public work, the other two although experiencing some difficulties, but eventually realized the market, but only listed FAW Group as a whole has yet to progress." An understanding of FAW insider revealed that listing.

It is understood that in 2007, the SASAC delineation of the 30 listed central enterprises the overall list, the name of FAW Group, already in the column. According to the SASAC plans to complete the 30 companies should be the overall time to market by 2010.

The face of China's auto market this year, the "thriving", FAW due to coaching change, the internal re-enable the listing and other related issues stranded.

"In fact, not in a hurry now listed FAW. It is understood that a large domestic banks to prepare specifically for the FAW of 100 billion yuan, as long as the FAW needs, ready to lend to it." Zhang Xin told reporters, "Do you choose next year's listing, depends on the timing of the grasp. FAW can not dwell on their own a better price, but also for shareholders, the market is responsible. "

"Packaged" or "spin"

In fact, the program listing on the FAW as a whole, such as car sun visor monitor the most attention is how to market, that is, "listing package" or "spin-off market."

As Previously, Zhu Yanfeng made it clear that the overall integration of the listing of the FAW Group's assets, to raise their own brand development finance an effective way. Therefore, the speculation that the assets will be packaged into the FAW FAW cars most likely.

However, in this scenario involves Xiali the problem was from the Tianjin intervention. Because of Tianjin FAW Group as a whole are worried that once upon listing, FAW FAW Xiali be merged, thus affecting the development of automobile industry in Tianjin.

"Later, FAW began to consider spin-off listing of the different assets that is injected into different listed companies, and ultimately listed as a whole." Advice and suggestions have been listed for the FAW's Zhang Xin told reporters, "We give out the idea of FAW is to take additional directional Xiali as a platform to achieve the overall market. "

"Because, if the Xiali spun off, FAW Xiali will lose sales. So, and compared with Dongfeng, FAW would have had more than 200,000 Dongfeng and Dongfeng's vehicles into approximately the same. And, once gone Xiali , FAW Toyota has also left. because in FAW Toyota, the Xiali 30% of the shares, FAW Group, only 20% of the shares. so FAW Toyota, FAW Group, a further loss of about 30 million in sales. The general must register, FAW miles away where about 50 million people will lose sales. now FAW sales of about 1.5 million or so, if the lose 50 million units, on sales of only 1 million. Not Now Chang'an, Beijing Automotive are almost at this range. In this way, FAW is likely to have hardly had even four. "Zhang Xin explained," At that time, they also endorsed the program.