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In 2019, the sales volume of Chery Automobile increased, with the accumulated sales volume of 406,400 vehicles in the first three quarters, with a year-on-year growth of 9.1%, ranking 16th among domestic passenger car enterprises. Chery Automobile will introduce new investors by means of "capital increase and share expansion" in the near future, and also announced an announcement on the major adjustment of the functions of R & D institutions, including product development and technical research.

Chery Automobile internally issued the Notice on Adjusting the Organizations and Functions of R & D, which will make the operation organization more efficient after adjustment and integration.

According to the notice, in terms of product development management center, Chery Automobile integrates Shanghai project management functions and adds Shanghai Product Development Management Department. At the same time, the Brazilian and Iranian research institutes were renamed South American and Central Asian research institutes, and North American and European research institutes were added.

In terms of Automotive Engineering Technology R & D Institute, Product Technology Center will integrate and optimize the body, chassis, interior decoration, exterior decoration and air conditioning cooling mechanisms and functions of Shanghai and Wuhu; Test and Vehicle Engineering Center will integrate the functions of Shanghai departments and add Shanghai Vehicle Performance Integration Department; In addition, after the integration of relevant functions, it will be changed to Power System Technology Center, Engine Design Department, Shanghai Power Control System Department, etc.

In terms of forward-looking technology, a product planning department was added to strengthen the R & D product definition function; Shanghai Vehicle Pre-research and Architecture Department and Shanghai Electric Vehicle Technology Development Department were added.

Chery Automobile has focused on adjusting its product and technology departments this time, or further accelerating product development and technology research, making the operation organization more efficient.

In addition, Chery Automobile is introducing new investors through "capital increase and share expansion". According to the project announcement, the new investor will become the largest shareholder of Chery Holdings, with a shareholding ratio of 30.99%, and obtain 28.555% of shares of Chery Automobile through Chery Holdings, and will become the largest shareholder of Chery Holdings and Chery Automobile at the same time. The new shareholders will contribute a total of 14.34959 billion yuan.

According to Chery Automobile's capital increase and share expansion listing announcement, the funds raised by this move are mainly repayment of liabilities and development and daily operation of existing business and new business. It is understood that Chery's main business has been in a state of loss for many years, sales are also declining.

As of June 30,2019, the net profit of Chery Holdings was-156 million yuan, the total assets were 90.4 billion yuan and the total liabilities were 68.51 billion yuan; the net profit of Chery Automobile shares was-1.374 billion yuan, the total assets were 83.08 billion yuan and the total liabilities were 62.294 billion yuan.

At present, the announcement status of Chery's capital increase and share expansion has been changed to "closed", and the new investor will soon officially appear.

The new investment will bring impact and change to Chery's management. And Chery R & D technology operation of the major adjustment, or the beginning of internal restructuring.

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