AutoBeta(AutoBeta.net)10/08 Report--

After nearly half a year of investigation, the website of the Central Commission for discipline Inspection and National Supervisory Commission released the latest progress: the former party committee secretary and chairman of Anhui Jianghuai Automobile Group Holdings Co., Ltd. was expelled from the party for serious violations of discipline and law.

On October 8, the website of the Central Commission for discipline Inspection and the National Supervisory Commission reported that according to the Anhui Provincial discipline Inspection Commission, a few days ago, with the approval of the Anhui Provincial CPC Committee, the Anhui Provincial discipline Inspection Commission conducted a case examination and investigation into the serious violation of discipline and law by Anjin, former party committee secretary and chairman of Anhui Jianghuai Automobile Group Holdings Co., Ltd.

According to the report, after investigation, Amgen's political belief collapsed, ideals and beliefs lost, discarded the red gene, failed to live up to the trust of the organization, failed to fulfill the main responsibility of comprehensively and strictly administering the party, privately brought into the country and read books with serious political problems, disloyal and dishonest to the party, deliberately opposed organizational censorship, ignored the spirit of the eight regulations of the central government, and accepted gifts, gift money, and consumption cards in violation of regulations for a long time. Ignore organizational requirements, do not truthfully explain things in organizational letters; distorted values, unbalanced mentality, extravagant life, greedy for pleasure; greedy, rely on enterprises to eat enterprises, engage in power and money transactions, power and sex transactions, take advantage of position to make profits for others in equity transfer, project contracting, technology transfer and other aspects, and illegally accept huge amounts of property.

An Jin seriously violates the party's political discipline, organizational discipline, clean discipline and life discipline, which constitutes a serious violation of duty and suspected of accepting bribes, and does not restrain and stop after the 18th CPC National Congress, which is of a serious nature and has a bad influence, which should be dealt with seriously. In accordance with the regulations on Communist Party of China Disciplinary Action, the Supervision Law of the people's Republic of China, and the Law of the people's Republic of China on Administrative punishment of Public officials, the standing Committee of the Anhui Provincial Commission for discipline Inspection has studied it and submitted it to the Provincial Party Committee for approval. Amjin was decided to be expelled from the party; to cancel his treatment in accordance with the regulations; and to confiscate his illegal income in violation of discipline. The suspected crime shall be transferred to the procuratorial organ for examination and prosecution in accordance with the law, and the property involved shall be transferred together.

Data show that Amgen is not only a native "Jiang Steam Man", but also a "factory second generation". His father once served as the old factory director of Jianghuai Automobile. Amgen was born in April 1957 with a Ph. D. in Management from Wuhan University of Technology. He has been working in Jianghuai Automobile since March 1975, and has 47 years of working experience in the automotive industry. He has successively served as director of the General quality Office of Hefei bus General Factory, deputy director and director of Automobile Research Institute of Jianghuai Automobile Co., Ltd., director and deputy general manager of the Technology Center of Jianghuai Automobile Co., Ltd., vice chairman and president of Anhui Jianghuai Automobile Group Co., Ltd., and general manager of Anhui Jianghuai Automobile Co., Ltd.

In February 2012, the then general manager, an Jin, took over as chairman of Jianghuai Motors until April 2021, when he resigned as chairman due to retirement and was replaced by Xiang Xingchu, then vice chairman and general manager. At this point, Amgen, who has been in service for four years, officially ended. However, only three years after his retirement, Amgen was investigated on suspicion of serious violations of discipline and law.

In April this year, Amgen was investigated. According to the Anhui Provincial discipline Inspection Commission, an Jin, former party committee secretary and chairman of Anhui Jianghuai Automobile Group Holdings Co., Ltd., is currently under disciplinary examination and supervision investigation by the Anhui Provincial discipline Inspection Commission.

As the former party committee secretary and chairman of Jianghuai Automobile Group, Amgen promoted the cooperation between Jianghuai Automobile and VW and Volkswagen during his tenure. In 2016, Jianghuai Motors and Weilai reached a cooperation to produce ES8, ES6, EC6 and other models for Weilai, but now Weilai has achieved independent car construction, no longer relying on JAC, and has changed the tail mark of all its models from the early "JAC Weilai" to "Weilai".

In 2017, Jianghuai Volkswagen Group and Volkswagen Group established Jianghuai Volkswagen Co., Ltd., each holding 50%, and launched the Sihao brand, covering the traditional fuel vehicle and new energy vehicle market, but the brand has a very low sense of existence in the domestic market. For example, after the listing of Sihao E20X, it has to end with the market due to poor sales, and the company's operating condition is hardly ideal. To this end, Volkswagen China raised its stake in Jianghuai Volkswagen to 75% by acquiring 50% of Jianghuai Automobile's largest shareholder, and changed its name to "Volkswagen (Anhui) Co., Ltd.". As a result, Jiangqi Group does not have much say in the joint venture.

In fact, when Amgen was in power, Jianghuai Motors had a hard time. When Amgen took over as chairman of JAC in 2012, it was at the peak of its development, but since 2017, JAC's performance has plummeted into a quagmire of losses, deducting non-net profit of minus 93 million yuan. According to the financial report, Jianghuai Automobile deducted non-net profit losses for six consecutive years from 2017 to 2022, with a cumulative loss of more than 9 billion yuan.

It is understood that Jianghuai Automobile has laid out Jianghuai, Ruifeng, Sihao and other brands in the passenger car market, among which Sihao, a joint venture with Volkswagen in China, bears greater development expectations, but the brand market performance is mediocre. In April last year, Jianghuai launched a new pure electric brand, Yttrium Wei. the first model based on the new electric platform, Yttrium 3, went on sale in June of that year and sold for 89900-127900 yuan at that time, but the car also failed to stir up waves in the car market. cumulative retail sales in the first eight months of this year were 7265. Jianghuai Automobile has also jointly built the "boundary" brand with Huawei. At present, the brand has been named "respecting the boundary". The first product has now entered the vehicle verification stage and plans to go offline at the end of this year and appear on the market in the first half of next year.

At the level of the latest financial report, under the power of senior executives such as Xiang Xingchu, secretary of the party committee, chairman and general manager of Anhui Jianghuai Automobile Group Holdings Co., Ltd., Jianghuai Motors began to have a good development trend in the first half of this year. According to the financial report, the revenue of Jianghuai Automobile in the first half of the year was 21.298 billion yuan, down 4.79% from the same period last year, and the net profit attributable to it was 301 million yuan, an increase of 93.84% over the same period, and the profit growth nearly doubled. The non-net profit deducted by its mother was 91.87 million yuan, while the net loss was 243 million yuan in the same period.

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