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According to the Securities Daily, citing people familiar with the matter, Haima Automobile, as the only vehicle company in Hainan Province, after overall consideration by all parties, the Hainan provincial government finally decided to acquire FAW's stake in FAW Haima (a joint venture between FAW and Haima).

According to reports, negotiations are under way, and it is planned that Hainan Development Holdings Co., Ltd. will succeed FAW as the second largest shareholder of FAW Haima and take over with major shareholder Haima Motor. However, the Securities Daily contacted Hainan Development Holdings Co., Ltd. and FAW Group, and received a reply that "there is no relevant information."

Although FAW Haima is a joint venture between FAW and Haima, from a historical point of view, Haima has a deep relationship with FAW and Mazda. In 1992, Mazda and Hainan Automobile Factory, which were in difficulties in development, established Hainan Mazda. Although the products were well received, they lacked production qualification. In 1997, the Hainan provincial government transferred the Hainan provincial manufacturing plant to FAW Group with state-owned assets. It was renamed FAW Hainan Automobile Co., Ltd., thus obtaining the production qualification.

Shortly after entering FAW system, Hainan Automobile Chairman Jing Zhu established Haima Group (2000) to acquire * ST Qiongjin disk which is facing delisting and achieve backdoor listing (2002). In 2004, Haima Motor and FAW Hainan Automobile Co., Ltd. merged into "FAW Haima Automobile Co., Ltd.". At present, FAW Group holds 49% and Haima Motor holds 51%.

After the Prima and Fumelai models put into production by Haima Mazda were sought after by consumers, Mazda turned its attention to the more powerful FAW Group and established FAW with FAW Group in 2005.

After being abandoned by Mazda, Hainan Mazda directly changed its name, set up Haima car and began its own research and development. Haima Motors has successively launched a hippocampal 3 sedan and a hippocampal hatchback sedan, both of which are very popular because of their similar appearance to Mazda. From a side point of view, Haima did not get rid of the shadow of Mazda and was called "shanzhai" by consumers.

The layout of seahorse automobile products almost lags behind the market, and being on the edge of the market has something to do with the development strategy in recent years. During the dividend period of the SUV market in 2013, Haima Motors ploughed the sedan market and launched M3, M6, M8 and other models. Although there are riders and S7 in SUV, the power of the products is worrying, and the knight is faced with the crisis of quality problems. When the car market was hot in 2019, Haima launched the Haima 8s, and the car camp became silent again.

From the point of view of the news, if the Hainan provincial government can acquire FAW Haima shares held by FAW Group, it will not be a bad thing for both Haima Motor and FAW Group. For Haima Motor, Hainan Development Holdings Co., Ltd. has replaced FAW as the second largest shareholder of FAW Haima, and Haima Motor can also strengthen its determination to develop cars. For FAW Group, discard negative assets to achieve better development, while speeding up the overall listing process to avoid inter-industry competition.

FAW seahorse in the market has "existed in name only", the current FAW seahorse has no sales data, it is obviously impossible to rely on Haima Motor and FAW Group to rescue. Haima Motor originally wanted to develop and expand its cooperation with FAW Group, but the cooperation with FAW for many years did not bring the expected development.

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