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The reporter learned from relevant persons of the Anhui Provincial Federation of Industrial Economics yesterday that the overall listing of the JAC Group is expected to start in the second half of this year. "Using a one-on-one model," the source said.
It is reported that the Anhui State-owned Assets Supervision and Administration Commission is actively promoting the overall listing of the Jianghuai Automobile Group, and the introduction of the Bank of China Construction Investment Corporation as a strategic investor has been completed, and is currently sorting out the relationships among the members of the Jiangqi Group.
JAC Group owns two listed platforms, namely JAC and Ankai. In addition to the two listed companies, the remaining assets include a number of directly-owned subsidiaries such as special-purpose vehicles, gear transmissions, and heavy construction machinery. Five business segments have been formed: commercial vehicles, passenger vehicles, passenger cars, parts and automotive services. Leading products occupy dominant positions in their respective market segments: Sales of chassis with 6-9 meters of passenger cars rank in the forefront of the industry for 20 consecutive years; sales volume of light trucks ranks second in China, and exports rank first in the country for more than ten consecutive years Bus sales ranked the top five in the industry.
On the export side, Jiang’s Group has a clear leading position in China. The products have been exported to South America, Europe, Africa, Asia, etc., and established cooperative relationships with more than 100 countries. There are nearly 100 overseas 4S stores and 13 overseas. The KD plant has formed an international market for the common development of commercial vehicles and passenger vehicles. In 2012, the Group exported 59,400 vehicles, and exported 51,000 in the first 10 months of 2013.
According to the plan previously announced by the Group, the “Twelfth Five-Year Plan†endeavored to achieve a total sales of 1.6 million vehicles, and the total sales revenue exceeded 100 billion yuan. In 5 to 10 years, JAC (Jianghuai Automobile) has become a powerful manufacturer of Chinese automobile owners with strong international competitiveness. For Jiangqi Group, achieving overall listing is an important strategic task during the “12th Five-Year Plan†period.
A brokerage researcher has analyzed with reporters that the JAC Group will be listed as a whole and may adopt a plan similar to that of the SAIC Group as a whole. Judging from the profitability of the two listed companies, Jianghuai Automobile is more likely to be an integration platform and will implement an absorption merger of Ankai Buses.