AutoBeta(AutoBeta.net)05/01 Report--

According to Qixinbao enterprise information shows, Southeast (Fujian) Automobile Industry Co., Ltd.(referred to as Southeast Automobile) equity change, the original 25% shareholder Mitsubishi Automobile Industry Co., Ltd.(referred to as Mitsubishi Automobile) withdrew, by the new shareholder Fuzhou Transportation Construction Investment Group Co., Ltd.(referred to as Fuzhou Communications Investment) to take over, Fuqi Group, Huawei Co., Ltd.(The British Virgin Islands)(referred to as Huawei shares) respectively maintained 50%, 25% share ratio unchanged.

According to equity penetration, Fuqi Group is 100% controlled by the State-owned Assets Supervision and Administration Commission of the People's Government of Fujian Province, Fuzhou Trading Investment is 100% controlled by the State-owned Assets Supervision and Administration Commission of the People's Government of Fuzhou City, and Huawei shares are China Automobile, a subsidiary of Taiwan Yulong Automobile.

According to the data, Southeast (Fujian) Automobile Industry Co., Ltd. was established on November 23,1995. It was originally established by Fuqi Group and Huawei shares with 50% each. In 2006, Warwick transferred its 50% stake to Mitsubishi Motors, thus forming a tripartite equity balance. That is to say, through this equity change, Southeast Automobile changed from the original Sino-Japanese shareholding to Chinese holding, among which Fujian Province state-owned assets and Fuzhou City state-owned assets held 75% of the total shares, in Southeast Automobile held absolute right to speak. For Southeast Automobile, this equity change is of great significance.

Under the influence of the market, the domestic weak independent brands accelerated to eliminate, as the independent brand of Southeast Automobile, sales continued to decline. According to the data, the cumulative sales volume of Southeast vehicles in 2020 is 14654, including 6265 DX5 models, 4056 DX3 and 2083 DX7 respectively.

In fact, Southeast Automobile was once one of the most concerned brands in the market. At the beginning of its development, it introduced Mitsubishi's vehicle manufacturing technology through Taiwan Zhonghua Automobile. In 2000, Southeast Motors introduced its first compact SUV, the Fulica. In 2003, Southeast Auto's first car Lingshuai came into the market. In 2006, Mitsubishi Automobile took a stake in Southeast Automobile and handed over the R & D, manufacturing, sales and after-sales business of non-complete imported Mitsubishi cars to Southeast Automobile for operation. After obtaining the support of Mitsubishi Automobile, Southeast Automobile successively launched Lingshuai, Lingshen, Lingli and other models. Sales data show that in 2013, the cumulative sales volume of Southeast cars reached 116,000 units, reaching an all-time high.

However, since Mitsubishi and GAC established a joint venture company in 2012, Mitsubishi Automobile's development focus has been on GAC Mitsubishi, Southeast Mitsubishi joint venture models gradually delisted, at present only independent models are on sale. Although Mitsubishi Motors has not withdrawn its investment, it has not provided any technical research and development support since 2015. Without Mitsubishi's Southeast Motors, market performance continued to deteriorate.

Southeast Automobile initially relied on Zhonghua Automobile and then Mitsubishi Automobile. It did not develop technical advantages in its heyday, which led Southeast Automobile to face many problems such as capital fracture, low sales volume and product quality after losing Mitsubishi's support.

At present, Southeast Automobile is plagued by problems such as low sales volume, low competitiveness of new products and brand marginalization. It plans to restore the image in consumers 'minds by launching brand-new models and brand image. At present, Southeast Automobile has planned new products such as DX9, N-series SUV and A-series sedan, as well as new stimulation market through brand-new brand LOGO.

In today's market environment, the launch of brand-new models and brands may be good for Southeast Auto, but Southeast Auto will obviously face more problems. Of course, Mitsubishi's withdrawal is also an important signal for Southeast Automobile, which welcomes the investment support of local SASAC, which can also help it overcome the current difficult situation to a certain extent.

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