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According to relevant media reports, Beijing Baowo Automobile Co., Ltd. (hereinafter referred to as "Bowo Automobile") has made a number of industrial and commercial information changes.

Among them, Wang Baiyin, the former chairman, manager and legal representative, withdrew, Lu Zhengyao, chairman of Shenzhou excellent car, became the chairman of Bowo Automobile, Chen Liangyun, CFO of Shenzhou excellent car, became the director, manager and legal representative of Bowo Automobile; the former investor Changsheng Xingye (Xiamen) Enterprise Management Consulting Co., Ltd. (hereinafter referred to as Changshengxingye) withdrew, and Shenzhou Youche (Xiamen) Information Technology Co., Ltd. became the new investor.

It means that Changsheng Xingye officially withdrew from Baowo Automobile, and Shenzhou excellent car will take over in an all-round way.

In fact, as early as the end of December last year, Foton Motor announced that 67% of Bowo Motor had been successfully transferred to Changsheng Xingye (Xiamen) Enterprise Management Consulting Co., Ltd., with a transaction price of 3.973 billion yuan.

In October last year, Foton issued a motion on pre-listing the transfer of 67 per cent of the shares in Beijing Baowo Automobile Co., Ltd., announcing the sale of 67 per cent of its shares on the Beijing property Exchange. Foton Motors pointed out in the above document: first, the transferee should agree to repay the 4.27 billion yuan loan provided by Foton Motor to Bowo Motor within three years from the date of completion of the equity transfer (that is, the registration of industrial and commercial change). Second, the transferee shall provide a legal and effective guarantee recognized by the company for all the above-mentioned loans.

According to the Shenzhou Youche announcement, in order to facilitate this transaction, Shenzhou Youche realized the strategic cooperation with Bowo Motor and helped Changsheng Xingye provide guarantee for the above 4.27 billion yuan loan, with a maximum guarantee amount of 2.4 billion yuan.

In March this year, Shenzhou Youche acquired a 67 per cent stake in Bowo from Changsheng Xingye for 4.1 billion yuan, becoming a direct shareholder of Bowo Automobile, and Bowo Motor has also become a joint venture between China and Futian.

Data show that Bowo has been losing money since 2016, with net profit losses of 484 million yuan in 2016, 985 million yuan in 2017 and 2.545 billion yuan in 2018, with a cumulative loss of 4.014 billion yuan in three years.

Prior to this, the industry was worried that Baowo and Shenzhou excellent car are undoubtedly a good card, but will they not play well? However, in the face of losses, China has prescribed a "new retail" prescription on how to improve Bowo cars. Lu Zhengyao believes that there is nothing wrong with Bowo's products, but the only problem is the sales channel. China will overturn the sales model of Bowo 4S stores and adopt a new retail model to help Bowo boost sales.

In the first half of this year, Bowo sold 30400 vehicles, up 86.82 per cent from a year earlier, according to the Federation of passengers. The cooperation with Shenzhou excellent car has indeed achieved immediate results. However, such achievements are not enough to support Bowo to turn around, and the solution to Bowo's current situation can only be achieved by significantly boosting the scale of car sales.

Data show that China excellent car is a well-known integrated service platform in the field of travel and automobile in China, which has four parts: China car rental, China special car, China car purchase, and China car flash loan. build China's leading car sharing network and car sales service platform. There are many advantages in this field.

In addition, as a car manufacturer, Bowo not only has the qualifications of traditional fuel vehicles and new energy vehicles, but also has intelligent manufacturing plants and a complete R & D, production and sales system.

And what kind of new products will Shenzhou excellent car bring after it takes ownership of Bowo, and how will the marketing mode change? It will take time to test whether it can even get new vitality in the hands of Shenzhou excellent car.

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