In 2009, “China Chang'an reorganized Hafei and Changhe”, the largest reorganization of the auto business between domestic central enterprises, was an important proof that China’s Chang’an Chairman Xu Liuping received “CCTV's annual economic figures”. However, in a few short years, Changhe abandoned Changan’s investment in Beiqi. Hafei faced a “death and death” risk under a huge loss.

In the year of re-imagining reorganization, Zhao Hang, director of the China Automotive Technology Center, took the FAW Restructured Gold Cup as an example at Changhe Auto’s “Seminar on the Industrialization Development of Automobile-to-People Auto Enterprises”. After FAW reorganized the “Shenyang Gold Cup” in 1995, it will Jinbei Coach repositioned itself in the luxury car market. On the other hand, it supported its own brand “little liberation” to enter the middle and low-end market in which Gold Cup had previously been located. However, in the past few years, not only did the Golden Cup not be managed, the company went bankrupt. Later, Brilliance had no alternative but to take over the company.

As the saying goes, a few years have passed and Changhe sales have continued to decline since the reorganization, and they have finally left Changan to commit to BAIC. The author still remembers that Zhao Hang had a comment saying that "FAW once merged and reorganized several enterprises" was "restructuring one and cutting down one", and now Hafei's outcome is nothing more than that.

In the year of reorganization, the author once questioned whether "the three arrows and arrows made by Xu Liuping were combined to create a million-dollar Hafei brand and Changhe brand" or smoke bombs, and cited the autonomy of Changan Automobile, the leader of "weak and weak alliance". The lack of business development can help Hafei and Changhe? How to integrate different cultures and management of the three companies in the three places? Today, these suspicions testify the failure of this Lalangian "reorganization."

Today's Hafei Motors, with its own cars and mini-vehicles sold bleakly, the past is no longer the status of the “king” of the mini vehicles in the past, the dealer channel has become a system, almost exhausted, and it is impossible for companies to completely rely on “self-help”. . The author believes that in order to solve the current difficulties, Hafei people must have the determination to “strengthen the brave” and start from two aspects.

On the one hand, Hafei Motor has already had to give up the Hafei brand, but it can retain its corporate brand. The most feasible way for all its cars and minicars is to hang on the “Changan” standard and enter the Chang’an dealer channel for sales. The market has responded well for many years. The Lubao, horse racing and other models may also have a chance.

On the other hand, Hafei Motors has to take the equity diversification route, not only to seek joint venture joint ventures, but also to issue stocks, corporate bonds, non-financial corporate debt financing tools, convertible bonds, etc., or even to take “employee stocks”. Fund pool model."

The so-called "employee equity fund pool model" is to allow employees to put their cash holdings into a pool of funds, as long as the pool of funds is relatively stable and healthy. In the purchase and redemption of the fund, this part of the equity is not moved in the mixed operation. This will not only maintain the stability of the equity, but also allow the employees to be relatively free to buy and sell shares. Through the fund's share, the exit and entry and exit are calculated according to the net assets of the fund's share. Instead of talking to everyone about the price, the fund's net assets will be used as the price for each person's share, so that the price of the fund can be known anytime and anywhere.

In response to the “State Council's Opinions on Further Optimizing the Market Environment for Mergers and Acquisitions of Companies”, some enterprises in Anhui Province are currently discussing the implementation of the “employee equity fund pool model.” This can also be used to solve employee income, employee growth, and corporate growth through fund dividends. Many problems.

Currently, Hafei Motors currently has more than 5,000 employees. Instead of adopting a direct “decrease and increase efficiency” approach, it is better to adopt such a model, which can stimulate employees' enthusiasm for work and can also hire management that meets the interests of most employees in this way. Lead the company out of the woods.

Of course, what kinds of equity diversification lines Hafei plans to take in the future depends on the attitude of China’s Chang’an. As the old saying goes, “Towards those who are not obedient, and those who come can still chase”, the author hopes that China Chang'an can absorb lessons from the past and strive to revitalize the “Hafei” move in the interest of maintaining the interests of its employees.