"Can Mr. Sun help Jingcheng Light Vehicle Company introduce Hyundai Motor's production line?"
Liang Yeping had a look of surprise on her face. The couple didn't have much hope in Sun Jian's acquisition of BAIC II, which was on the verge of bankruptcy.
In 1988, Le Jingcheng Light Vehicle Co., Ltd. was jointly invested by the core assets of BAIC No. 2 Plant, CITIC Investment Company, and Xiangjiang Shortage Company to produce Jingcheng brand light vehicles. The joint venture period was 15 years.
Based on the imported Isuzu N series light vehicle technology, BAIC Light Vehicle has successively completed the design of three bJ1045 models (bJ1045cA5d, bJ1045cE5d, bJ1045qm5d) and six bJ1061 series three-ton popular and high-end models, and has passed the expert group certification , obtained a production license, produced and sold domestically, and achieved good results in the first five years. However, more than ten years later, compared with Jiangling Isuzu Motors, these models and technologies have aged, and the joint venture's benefits have also begun to decline.
Jiangling Isuzu Motors Co., Ltd. was established in April 1993. It is a joint investment by Jiangling Motors Co., Ltd. (formerly Jiangxi Automobile Manufacturing Plant), Japan's Isuzu Motors Co., Ltd. and Itochu Corporation. It faces domestic and foreign markets to develop, A Sino-foreign joint venture that produces and sells light trucks with internationally advanced standards. It is the Sino-foreign joint venture with the largest investment, the deepest level, and the widest scope of cooperation in the industry of Japanese Isuzu Motors. Its main products include pickup trucks of the Jmc and ISUZU brands. ), light trucks (Kaiyun), station wagons (Baowei), vans (Yunba).
The familyization of domestic passenger cars has become a trend. Huhai Santana, Jiangcheng Fukang, FAW Jetta, Yangcheng Peugeot, Jinhai Xiali, Changan Alto, and Beijing Holding Automobile Group have Jeep Cherokee (off-road vehicle), and they also want to introduce one. It is a small car. It has just been a year since the Asian financial crisis. We are short of funds and have not yet found a joint venture partner. We are still able to get Taobao Holdings to invest in the company, and the funds are also resolved.
"Mr. Liang, AtIc, a subsidiary of Taobao Holdings, became the fourth largest shareholder of Hyundai Motor Group by chance. As a strategic investor, he does not participate in the daily affairs of Hyundai Motor Company."
Sun Jian, who is low-key, is not looking for trouble. As one of the directors of Hyundai Motor Company and President of AtIc, Yu Jianguo was entrusted by Hyundai Motor Group Chairman Zheng Mengjiu to find a company with automobile production qualifications in a major Chinese city as a joint venture. partner.
On November 24, 1997, the price of the Korean won against the U.S. dollar reached 1139:1, the stock market plummeted by more than 70%, hitting a ten-year low of 488 points, capital fled frantically, and foreign exchange reserves quickly dropped to less than 20 billion U.S. dollars (the actual available foreign reserves were only There are 7.9 billion).
Rating agencies such as Moody's have significantly downgraded the credit rating of South Korean government bonds.
On December 12, the Korean won plummeted to 1891:1 against the U.S. dollar. In less than a month, the Korean won depreciated by 66%. The bubble burst completely: of the 33 banks in South Korea, 5 went bankrupt, 10 were sold, and 19 remained.
In 7 days, the Korean won depreciated by more than 50%. It only took 7 days. As the leader of the "Four Asian Tigers", South Korea quickly and happily lost this game involving the foreign exchange market, stock market, property market, bond market, etc. The war on core financial assets is jaw-dropping.
As 8 of the 30 large chaebols, including Hanbao and Kia, went bankrupt, non-performing assets of financial institutions increased significantly, and the market began to panic.
In less than six months, South Korea's economy was completely paralyzed.
The South Korean government had to announce that the country's foreign exchange reserves have now been exhausted. The government called on citizens to donate money and foreign exchange, and at the same time requested assistance from the ImF, the United States, Japan and friendly European countries.
South Korean people enthusiastically donated gold and foreign exchange. South Korean media reported that in about two months, South Korean people donated a total of more than 220 tons of gold. The total value of donated gold and foreign exchange was worth US$3 billion, and the gap was only Considering the repayment of short-term debt and the restart of the economy, at least US$50-60 billion in funds will be needed.
After nearly four months of investigation, negotiation, and re-investigation and re-negotiation, the ImF has given a "solution" to South Korea's financial and economic crisis. One of them is to require South Korea to fully open up to foreign investment and allow overseas capital to acquire Korean companies.
During the financial crisis, South Korea's stock market plummeted, plummeting as much as 65%. To avoid a collapse of the financial system, the South Korean government introduced policies to restrict short selling and encourage domestic and foreign investors to enter the market and go long.
Yu Jianguo and Li Huabin were ordered to get ahead of major Wall Street investment banks such as Goldman Sachs Group, Morgan Stanley, Merrill Lynch, Bear Stearns, and Lehman Brothers. AtIc invested more than 800 million U.S. dollars (1 U.S. dollar exchanged for 1,850 Korean won). At the bottom, a large number of stocks of major Korean companies such as Hyundai Motor Company, Samsung Electronics, SK, Hanwha, LG Electronics, and Lotte Corporation were purchased, and the stock prices were equivalent to 20% or 30% off the high point.
The Korean government and major Korean companies are happy to see AtIc buying stocks of major Korean companies, which is equivalent to saving the market for South Korea.
In 1998, South Korea's GDP growth was -5.1%. In the first half of this year, GDP growth reached 7%, and is expected to reach 9% for the whole year. South Korea's economy has come out of the trough, and the South Korea Composite Index has risen by 110% from its lowest point.
Sun Jian is not just messing around with mandarin ducks!
In his previous life, there was a Hyundai Motor Company in Beijing, which produced Hyundai brand cars and sold well in the country. Sun Jian didn’t know in what year the joint venture was established? I don’t even know if the joint venture manufacturer is Jingcheng Light Vehicle Company?
What is the joint venture ratio? Sun Jian has nothing to do with it and has no time to care!
"Mr. Sun, please wait a moment. Can I call my husband?"
"Mr. Liang, please!"
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"Mr. Sun, my husband is very happy. I would like to ask Mr. Sun to help invite Chairman Zheng of Hyundai Motor Group to visit Beijing? He represents Beijing Automobile Industry Holding Group to discuss cooperation matters with Mr. Zheng."
"Mr. Liang, that's easy to say!"
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October 24, Jiangcheng.
"Mr. Sun, after three rounds of negotiations with Chairman Zheng of Hyundai Motor Group on behalf of Capital Automobile Industry Holding Group, the two parties reached an initial cooperation agreement and invested US$2 billion to establish Capital Hyundai Enterprise Co., Ltd., with China and South Korea each accounting for 50%. shares, and the joint venture period is 30 years. Jingcheng Hyundai Enterprise Co., Ltd. will build a 1,000-acre automobile production base in Shunyi, with three vehicle production plants, three engine production plants and a technology center, with an annual vehicle production capacity reaches 1 million vehicles, on behalf of Beijing Automobile Industry Holding Group, I invite Taobao Holdings Company to invest US$200 million in Beijing Hyundai Enterprise Co., Ltd."
Chen Jianming, chairman of Beijing Automobile Holdings Group, accompanied by his wife Liang Yeping, came to Jiangcheng headquarters. After some pleasantries, he got straight to the point and invited Sun Jian to invest US$200 million in shares.
"Chairman Chen, as an outsider, I invested in Capital Modern Enterprise Co., Ltd., will Chairman Zheng have any objections?"
Sun Jian did not expect Chen Jianming to invite him to invest in shares.
