SAIC Motor has officially completed the equities transfer of 3.27 billion A shares to the controlling shareholder SAIC. The total share capital of the company has increased from 3.276 billion shares to 6.551 billion shares, and the net assets have increased from 11.66 billion yuan to 30.74 billion yuan, making it a domestic company. The largest automotive listed company. Calculated according to the closing price of 8.19 yuan yesterday, the total market value of Shanghai Automotive reached 53.65 billion yuan, and it entered the top 20 of A-shares in Shanghai and Shenzhen.
Shenguang analysis:
1. The company's business scope has undergone a fundamental change. After this private placement, Shanghai Automotive's business scope has changed from auto parts to complete vehicle production. After stripping off some of the non-whole vehicle assets, Shanghai Automotive took over 15 of its subsidiary's shares from SAIC. It will own 50% equity in Shanghai GM, 50.098% equity interest in SAIC-GM-Wuling, 50% equity in Shanghai Volkswagen, 100% equity in SAIC Motor and other vehicle assets. The products will cover all major segments of passenger cars and commercial vehicles.
2. The profit of the company will be greatly improved. Its net profit in 2005 was only 1.1 billion, and its net profit in the first half of 2006 was only 540 million. After the acquisition of the above assets, Shanghai Automotive will realize its main business income of 111.2 billion yuan, net profit of 2.5 billion yuan, and weighted average earnings per share of 0.385 yuan. In 2007, it achieved main income of 128.5 billion yuan and net profit of 3.1 billion yuan. The weighted average earnings per share is 0.475 yuan.
3, industry development into the fast lane. At present, the short-term adjustment of the passenger vehicle industry since 2004 has basically ended and the inflection point of the industry has been confirmed. According to the development rules of foreign cars in the popularization stage, combined with the characteristics of China's row-style badges, China's passenger car industry has embarked on a growth path that may last for 8-10 years. Among these, companies with medium-to-high-end independent brands and strong M&A capabilities will occupy the leading position in the industry, and Shanghai Automotive is currently the typical representative of such companies.
View related topics: SAIC commercial vehicle expansion
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