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"Chang'an Group is moving forward with a reorganization involving Qingling, aiming to enhance its strength and position itself among the top automotive groups in China. According to recent news from Chang’an, the new automobile industry policy introduced in June has started taking effect. This policy encourages the formation of large-scale auto groups, stipulating that these groups must have a domestic market share of over 15% or annual sales revenue exceeding 15% of the total industry sales. This shift effectively removes the traditional dominance of the 'first camp' by SAIC, FAW, and Dongfeng, as Dongfeng's market share hasn't met the threshold and is now at risk of being left behind. Meanwhile, Chang’an, Beijing Automotive, and Guangzhou Automobile are showing strong potential to enter the first camp.
An insider from Chang’an revealed: “The new policy supports large-scale enterprises, and Chang’an aims to strengthen its position through cooperation with Qingling to compete for a spot in the first group.†Previously, Yin Jiaxu, head of Chang’an, stated that the company is following market rules, using assets as a link, and forming corporate alliances to move toward larger enterprise groups, striving for a 15% market share and entering the top tier quickly.
According to Chang’an sources, the company conducted a detailed review of Qingling and found its assets to be strong, but challenges remain due to the different backgrounds—Chang’an is a central enterprise, while Qingling is a local one. Qingling, once ranked among Chongqing’s top 50 industrial companies, is one of China’s 14 key automotive enterprises. With total assets of RMB 12.5 billion and net assets of RMB 7 billion, it produces light commercial vehicles, heavy trucks, and multi-functional passenger cars based on Japanese Isuzu technology. Listed in Hong Kong in 1994, it has long attracted Chang’an’s interest due to its complementary products and strong asset base.
While Chang’an is pushing hard toward large-scale group development, Beijing Automotive and Guangzhou Automobile are also making significant efforts. In 2003, BAIC’s affiliated companies produced 348,000 vehicles and achieved sales revenue of 30.82 billion yuan, increasing its market share to 7.8%. BAIC aims to reach 1 million units in production and sales by 2008, with sales revenue of 100 billion yuan, positioning itself alongside SAIC and Dongfeng.
Guangzhou Automobile plans to reach 300,000 units in annual production by 2005, with sales revenue exceeding 500 billion yuan by 2005 and 100 billion yuan by 2008. Both companies are racing to catch up.
Dongfeng, which failed to meet the 15% market share last year, is not willing to fall behind. Officials said they are aware of the new policy but are unsure whether market share or revenue will be the main criteria. They emphasized their profitability and strong performance in national rankings.
Experts suggest that the new policy allows large-scale groups to implement projects more smoothly, reducing bureaucratic hurdles. Li Zuokui from Dongbei University of Finance and Economics noted that most domestic automakers may struggle to reach economies of scale in the short term, so alliances and synergies are essential for growth.
Jia Xinguang from China Automotive Industry Consulting believes that partnerships like Chang’an and BAIC could create strong complementarity. He pointed out that Chang’an has strong internal cohesion, while BAIC needs better asset control. He also highlighted possible integrations between Changhe, Hafei, and other companies, emphasizing the growing trend of consolidation in the industry.
In conclusion, the auto industry is undergoing a major transformation, with companies competing to form large-scale groups to gain more autonomy and market influence. As the competition intensifies, only those who adapt quickly and strategically will succeed." (560 characters)