AutoBeta(AutoBeta.net)08/31 Report--

The post of chairman of China FAW, which has been vacant for nearly half a year, has finally ushered in a new appointment.

On the evening of August 31, China FAW officially announced that China first Automobile Group Co., Ltd. (hereinafter referred to as "FAW Group") held a meeting of middle-level and above managers. The relevant responsible comrades of the Organization Department of the CPC Central Committee announced the Central Committee's decision on the adjustment of the main leaders of China first Automobile Group Co., Ltd.: comrade Qiu Xiandong was appointed chairman and party committee secretary of China first Automobile Group Co., Ltd., relieved from the post of general manager of China first Automobile Group Co., Ltd. The appointment and removal of relevant posts shall be handled in accordance with the provisions of relevant laws and articles of association.

At present, Qiu Xiandong's position has been updated on the FAW official website. So far, the leading body of FAW is composed of Qiu Xiandong, Wang Guoqiang, Dong Yunpeng, Lei Ping, Liu Yigong, Zhou Zhiping and Liang Guiyou.

On February 23 this year, FAW Group announced that the Central Committee had decided that Comrade Xu Liuping would no longer serve as chairman and party committee secretary of China first Automobile Group Co., Ltd., and that the relevant posts would be appointed and removed in accordance with the provisions of relevant laws and articles of association. Since then, the position will be temporarily presided over by Qiu Xiandong, managing director and deputy secretary of the party committee of FAW. On March 21, the all-China Federation of Trade unions held the eighth plenary session of the 17th Executive Committee in Beijing and elected Xu Liuping as vice chairman of the all-China Federation of Trade unions. Xu Liuping was elected first secretary of the Secretariat of the all-China Federation of Trade unions.

Since Xu Liuping left office, the position of chairman of FAW has been in a "vacant" state, and who will be the next head of FAW Group has also become the focus of the automobile industry. With the announcement of the appointment of FAW Group, the candidate for chairman of China FAW, which has been vacant for more than 6 months, has been settled.

In the past, Red Flag, a high-end car brand directly operated by FAW, was the focus that Xu Liuping paid most attention to. As Xu Liuping's successor, "how to develop Red Flag" will also become an important task for Qiu Xiandong.

Data show that Qiu Xiandong was born in November 1969 in Guangshui, Hubei Province. In 1993, Qiu Xiandong majored in forging technology and equipment in the Department of Mechanical Engineering of Tsinghua University, and graduated from the School of Economics and Management of Tsinghua University. In July of the same year, he joined Dongfeng Automobile Industry Finance Company.

Looking back at Qiu Xiandong's work experience, as a veteran of the automobile industry, Qiu Xiandong has held a number of positions in the automotive field, and his resume is quite rich. From 1993 to 2017, Qiu Xiandong mainly worked in Dongfeng Automobile Group. Since August 2001, Qiu Xiandong has served as Director of the Financial Division, Deputy General Manager and Minister of Finance, Executive Deputy General Manager of the Financial Planning Department of DPCA, general manager of DPCA in October 2012, and vice president of Dongfeng Motor Group Co., Ltd in August 2016. During his tenure as DPCA, DMC is at the peak of its development. Data show that DPCA sold more than 440000 cars in 2011, climbed to 550000 in 2013, and sold more than 700000 in 2014 and 2015.

In 2016, FAW Group officially stripped the Red Flag brand from FAW cars and operated independently. Brand positioning is the concept of "Chinese-style new noble refinement", with the layout of L, S, H and Q product series. it covers ultra-luxury, sedan, mainstream and business positioning. In May of the following year, Qiu Xiandong was transferred from Dongfeng to deputy general manager of FAW, in charge of FAW Red Flag, with the focus on revitalizing the Red Flag brand with Xu Liuping, the then chairman of the board.

In January 2018, FAW released the new red flag brand strategy-- taking "Chinese-style new noble refinement" as the brand concept, and under the leadership of Xu Liuping, the red flag brand quickly became a dark horse in the car market. According to the wholesale sales volume of the Federation, the cumulative sales of the Red Flag brand increased from 26700 in 2018 to 99300 in 2019, or thanks to the rapid development of Red Flag, Qiu Xiandong was rapidly promoted to general manager and deputy party secretary of FAW in July 2020.

One year after Qiu Xiandong was appointed general manager and deputy secretary of the party committee of FAW, China FAW issued important strategic goals. In July 2021, China FAW announced that by 2025, it will achieve annual sales of 6.5 million vehicles, annual income of more than one trillion yuan, and annual profit of more than 68 billion yuan. Among them, the Red Flag brand exceeds 1 million, striving to enter the world advanced ranks; its own brands exceed 2 million, striving to enter the world's more advanced ranks; and Red Flag new energy smart vehicles account for more than 40%, striving to enter the world advanced level.

The data show that in 2020, FAW sold 3.706 million vehicles, with an operating income of 696 billion yuan and a profit of 46.7 billion yuan; in 2021, it sold 3.5 million vehicles, with an operating income of 707 billion yuan and a profit of 48 billion yuan; and in 2022, it sold 3.2 million vehicles with an operating income of 630 billion yuan and a profit of 49 billion yuan. Among them, the wholesale sales show that the Red Flag brand sold 196700 vehicles, 299700 vehicles and 295700 vehicles respectively from 2020 to 2022, and sales declined slightly due to the epidemic and spare parts supply in 2022.

At present, FAW of China is All in new energy strategy, and the whole side is facing the transformation of new energy vehicles. In June this year, Qiu Xiandong said at the 2023 World Power Battery Conference: "now our investment strategy is' two all, one stop'. 'two all' means that all investment in technological innovation is spent on new energy vehicles. the new capacity is all used in new energy vehicles, and 'one stop' means to stop the new investment in traditional fuel vehicle technology and production capacity."

At that time, Qiu Xiandong stressed that from this year, FAW will firmly promote the All in new energy strategy, strive for the transformation of new energy vehicles, and accelerate the layout of new energy products. This year, Hongqi will launch two pure electric models, E001 and E202, and will launch a total of 11 pure electric models and 11 plug-in hybrid models by 2028, achieving full coverage of A-class to D-class sedan SUV, MPV and other market segments.

According to the plan, by 2025, FAW will produce and sell more than 1.45 million new energy vehicles, of which independent brands will account for more than 50 per cent.

The succession of the new boss is often accompanied by a huge adjustment at the brand level. In the "Qiu Xiandong era", we might as well wait and see what kind of innovation will occur in FAW.

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