AutoBeta(AutoBeta.net)09/03 Report--

Chery mixed reform started again, to increase capital and shares in the way of the introduction of new investors.

A few days ago, Chery Automobile Co., Ltd. and Chery holding Group Co., Ltd. issued a pre-announcement of capital increase and share expansion, and both sides will introduce the same investor to participate in their capital increase and share expansion project. Chery Automobile Co., Ltd. is a subsidiary of Chery holding Group, and the identity of the controlling shareholder may change after the new investor injects money.

Specifically, in the form of cash contribution, the new investors subscribed for more than 101.3 billion new shares of Chery shares and more than 1.921 billion yuan of new registered capital for Chery Holdings at the same time.

Among them, the capital increase low price of Chery shares is 6.81572 billion yuan, and the corresponding shareholding ratio is 18.5185%; the capital increase low price of Chery Holdings is 7.53387 billion yuan, and the corresponding shareholding ratio is 30.99%.

Therefore, the capital scale of the new investor is about 14.35 billion yuan.

Chery said the funds raised would continue to be used to repay debts as well as existing business, new business development and day-to-day operations.

As of June 30, 2019, Chery Holdings has total assets of 90.4175179 billion yuan and liabilities of 68.5082975 billion yuan, while Chery shares have total assets of 83.0821771 billion yuan and liabilities of 622,293,6623 million yuan.

The largest shareholder of Chery holding Group is Wuhu Construction Investment Co., Ltd. After the completion of the capital increase and share expansion, the proportion of shares held by Wuhu Construction Investment will drop from the current 40.1084% to 27.68%, and the shareholding proportion of the new management will reach 30.99%. Will become the largest shareholder of Chery holding Group. After completing the capital increase and share expansion, Chery Holdings will remain the largest shareholder of Chery shares, with a shareholding ratio of 32.4815%.

Some people in the industry believe that although Chery introduces new investors, Chery will still take the lead in the company. Who the new investor will be will be revealed after the announcement is over.

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