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Following the cooperation with Dongfeng Motor Corporation in 2003, on June 21, 2011, Chongqing Xiaokang Industry Group once again took over the state-owned Huarong Yufu Equity Investment Fund Management Co., Ltd. to become a third-party shareholder with a share of RMB 225 million. This is also the first time that Huarong Yufu has been in Chongqing since listing. Both parties stated that this cooperation will speed up the overall listing of Xiaokang. It is expected that Xiaokang will enter the capital market within two years and seek greater development space.
The first big investment in private enterprises in Chongqing
Huarong Yufu Equity Investment Fund Management Co., Ltd. signed a strategic cooperation agreement with Chongqing Xiaokang Industry Group. According to the agreement, Huarong Yufu will invest 225 million yuan in the equity stake in Xiaokang Group, becoming the third-biggest shareholder of Xiaokang Auto and holding a 5% off-hsin. Shares. This is the first project invested by Huarong Yufu Fund in Chongqing, and it is also the largest single project since the establishment of the company.
It is understood that Huarong Yufu Equity Investment Fund is a joint venture between China Huarong Asset Management Corporation and Chongqing Yufu. It is the first PE (private equity fund) that was jointly funded by state-owned financial institutions and local governments. It was established in August 2010 in Chongqing. Two Jiangjiang New District was established, with a registered capital of 60 million yuan. At present, the company's management funds have reached 2.5 billion yuan. According to the plan, by 2015, Huarong Yufu will raise 10 billion yuan.
It is a general trend that private enterprises will join hands with state-owned enterprises to achieve greater growth. The private enterprises in Chongqing should cooperate more with state-owned enterprises to make up for their shortcomings in the areas of R&D, management organizations, and financing platforms. The Xiaokang Group and Huarong Wealth Group are holding hands together, which is a good example. Private enterprises must join forces with state-owned enterprises through various means such as participation in shares, mergers and reorganizations, and complementary advantages and resources sharing can be shared.
It is understood that in the automotive field, there are already many companies and enterprises in Chongqing joining hands. For example, the joint venture between Xinyuan Motors and Brilliance Automotive made a micro-vehicle in Mianyang, Sichuan, and the Yinxiang Group and Beiqi joint venture established a mini-vehicle base in Hechuan, etc., and all have achieved preliminary results.
High-speed growth attracts PE national team
As a national team in the PE market, Huarong Yufu’s first choice in Chongqing was to cooperate with the Xiaokang Industry Group. This is still the single largest project since its establishment.
China Huarong Asset Management Company stated that the past high-speed growth of the Xiaokang Group's mini-vehicles, shock absorbers and other industries made Huarong Yufu’s team very much appreciated. The research and development capabilities of Xiaokang Automobile and its future growth are all very good. It is Huarong's value.
With a registered capital of 526 million yuan, Xiaokang Industry Group is a large-scale enterprise group that integrates R&D, manufacturing, and sales of components such as engines, motorcycles, shock absorbers, and Dongfeng Xiaokang complete vehicles. It is the top 500 in China's machinery manufacturing industry, and also the top 50 in Chongqing industry. The annual sales volume of motorcycle shock absorbers is the first in the world.
It is understood that of the 20 listed companies in the growth rate list of the private enterprises in Chongqing in 2010, Xiaokang was ranked among 41.92%. According to Xiaokang's plan, the goal of producing and selling micro-vehicles of a million cars per year will be achieved by 2015, and the two K and V series of products under the Group will each contribute 500,000 vehicles. 
In 2011, the state cancelled the subsidy policy for cars to the countryside, and the microcar market faced great challenges. Some enterprises had negative growth, while Dongfeng Xiaokang still maintained rapid growth. This is because the Dongfeng Xiaokang new mini vehicle is very unique. Not only does it have the shape of a Hummer, but also China's first four-wheel drive vehicle. In the first half of 2011, domestic micro-vehicle sales fell more than double digits, while Xiaokang still achieved a 30% year-on-year growth.
Will boost the overall listing of Xiaokang Group
As a family business, the Xiaokang Group is not the first time to join hands with state-owned enterprises. As early as 2003, Xiaoan Group, the predecessor of Xiaokang Group, had a joint venture with Dongfeng Motor Corporation. Two years later, it listed the first mini vehicle Dongfeng Xiaokang. In 2010, Dongfeng Xiaokang's production and sales exceeded 300,000 units, ranking third in the domestic industry, with sales revenue exceeding 10 billion yuan, of which exports totaled 155 million US dollars, an increase of 80% year-on-year. This process took only five years.
The Xiaokang Industry Group stated that the auto industry needs financial institutions such as Huarong Yifu to enter. They come to be shareholders and have a great benefit to the Xiaokang Group. The joint venture with Dongfeng made Xiaokang taste the sweetness. These large state-owned enterprises brought advanced management and optimized the ownership structure of the family-owned company. The advantages of the two groups are complementary. After Huarong Yifu comes in, Xiaokang can also enter into the field of investment and financing through them.
The new shareholder's entry has also opened the overall listing of the well-to-do group, and it is expected to land on the capital market within two years. The introduction of strategic investors can fully leverage the advantages of its capital operations and financial services to help Xiaokang become stronger and bigger. Huarong Yufu has discussed and signed a financial service agreement with Xiaokang to provide a full range of services for Xiaokang to access the capital market. PE is to promote the listing of companies, the two sides have great confidence in the listing, is currently being resolved some of the issues listed, is expected to submit a listing application by the end of June 2012. For the scale of the funds raised, it is also necessary to look at the pace of business expansion and the current situation of the capital market.