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Since the merger of SAIC Nanhua on December 26 last year, it has been a full year today and Nanjing Automobile Group has achieved a 40% reduction in losses. Hu Maoyuan, chairman of SAIC Motor, said at a recent internal company meeting that next year, Nanjing Automobile will reduce losses by 40%, and it will be able to turn losses into profits in the following year. SAIC Motor helped Nanjing Automotive solve a cash flow of RMB 4.6 billion this year. In the future, investments in the entire vehicle, engine, and parts and components sectors have also been included in the plan.
Xinnan Auto is the base of its own brand
The Morning Post reporter learned that on the afternoon of the 22nd, Hu Maoyuan, chairman of SAIC, and Chen Zhixin, executive vice president of SAIC, held a conference on organizational restructuring in Nanjing Auto.
Announced the formal merger of Nanjing MG Motor Co., Ltd. and Nanjing Automobile Group Co., Ltd. Mage Co., Ltd. no longer exists as an independent legal entity, its assets become the main content of the new Nanjing Automobile Group, and SAIC Motor will be an important base for SAIC Motor to develop its own brand. The assets of Nanjing Iveco invested by the former Nanjing Automobile Group were entrusted to SAIC's commercial vehicle division.
The relevant person in charge of the SAIC Group told reporters yesterday that the MG MG company and NAC are "combining the two into one". This is to further increase resource utilization, increase integration efforts, and be more conducive to independent brand building.
“One year after the South Cooperation, the next important issue is how to make our own brands more smoothly. The establishment of the Grand Mercure company under the Nanjing Automobile Group does not meet the requirements for flat management.†Hu Maoyuan, chairman of SAIC, explained at the meeting. The reason for "combining the two into one".
It is understood that, after the merger of Shangnan, Nanjing Automobile Group has always been a "empty shell" and does not have practical functions, because SAIC once promised "three unchanged" that the name remains unchanged, legal person status and tax channels remain unchanged. Therefore, after the merger of the Nanjing Grandeur and the Nanjing Automobile Group, the name of the company is still Nanjing Automobile Group, but the actual main business is the independent brand MG.
According to reports, executive vice president of Shanghai Automotive Group Corporation, Chen Zhixin, also serves as chairman of Nanjing Automobile. Huang Keji, former general manager of the company, served as general manager of Nanqi, and Yu Jianwei, executive vice president of the former Nanjing Automobile Group, served as secretary of the party committee of the new Nanjing Auto Group and vice president of SAIC. President.
Old Nanjing Steam successfully "bleeds"
Hu Maoyuan believes that in the context of the world financial crisis hitting the automotive industry, Shangnan teamed together to set a fire for the industry. It can be said that "cooperation has achieved initial results and the future has become visible and visible."
After the integration, Roewe and MG will all be managed by Shanghai Automotive Passenger Vehicles Branch. Future planning, R&D, manufacturing, marketing, and procurement will be unified to save costs.
Hu Maoyuan revealed that in the next two years, NAC will invest 2.566 billion yuan, making Pukou former Grandfather Co., Ltd. the nation's largest A-class vehicle production platform, producing MG Class A vehicles, and also producing Roewe A-class vehicles. SAIC is also considering linking its MG with Roewe to sell on the grid to increase scale efficiency and increase the profitability of dealers.
It is worth noting that one year after the South-South cooperation, the old Nanjing Automobile Group will reduce losses by 40%. According to reports, the loss of Nanjing Automobile was as high as 1.1 billion yuan last year.
However, the biggest change is the original Nanjing Fiat company. On the eve of the South-South cooperation, Nanjing Fiat’s cash flow almost broke, and it has been the biggest “bleeding point†for Nanjing Auto for many years. After Shanghai Volkswagen took over the production base that had lost 2.2 billion yuan, this year it achieved the acquisition of assets, establishment of the company, transformation and production of the year, and profit in the year. Since the start of production in May this year, 38,000 vehicles have been produced so far, which has created a monthly production record for this production base, and the tax revenue is nearly 200 million yuan.