Beijing car once again to the Mercedes-Benz leasing capital increase accumulated nearly 600 million yuan

Posted on 6/27/2017 9:16:02 AM

With the rapid development of Mercedes-Benz leasing business, Beijing Motor (01958) and Daimler Greater China once again to the Mercedes-Benz lease capital increase.
Beijing Motor announced on the evening of 25, said the company and Daimler Greater China on June 23, 2017 has entered into a capital increase agreement, pursuant to which the two sides agreed to share the proportion of Mercedes-Benz lease to make a total of 500 million yuan of capital increase. After the completion of capital increase, the registered capital of Mercedes-Benz leasing will increase to 1.697 billion yuan, of which Beijing Auto's capital contribution of 594 million yuan, holding 35%; Daimler Greater China contribution of 1.103 billion yuan, holding 65%. At the same time, Mercedes-Benz leasing board and management will remain unchanged.
In fact, this is the third replenishment of Beijing Auto to Mercedes-Benz lease. In 2009, Beiqi first made a capital increase agreement with Daimler's Daimler Greater China, a major shareholder, to subscribe for the new share capital of Mercedes-Benz leases with cash of RMB164 million. Upon completion, the registered capital of Mercedes-Benz leases will increase from $ 300 million to $ 462 million and Beiqi holds a 35% stake in Mercedes-Benz leases. October 2016, Beiqi re-announced and Daimler Greater China agreed to share the proportion of shares to Mercedes-Benz lease capital increase of 500 million yuan, of which Daimler Greater China invested 325 million yuan, Beiqi injection 175 million yuan. Upon completion, Mercedes-Benz leasing registered capital increased to 1.198 billion yuan, the proportion of the two sides remain unchanged.
"With the rapid growth of China's luxury car consumer demand and the post-market business, it is expected that Mercedes-Benz leasing will enter a stage of rapid growth in the next few years, and the balance of loans will continue to grow, and to enhance the profitability and meet the" Industry management approach "in the risk of assets can not exceed 10 times the total net assets of the provisions, it is decided to invest in Mercedes-Benz leasing." Beiqi said that the capital increase is mainly to support the Beijing Mercedes-Benz new car sales, and this year's Mercedes-lease leasing new financing leasing Increase the amount of demand growth, enhance profitability.
In recent years, the provision of financial services has become Daimler in the Chinese market to achieve growth in one of the ways, with the Mercedes-Benz in the Chinese market continues to force, Daimler Group more and more attention to car rental and other financial services. AlexandreMallmann, president and chief executive officer of Mercedes-Benz Automotive Finance Ltd., publicly stated: "The financial business has become an important source of profit for the major companies. From the profit composition of the car company, 20% of the profits come from Manufacturing links, financial services can contribute up to 35% of the profits.
Mercedes-Benz finance in 2005 to enter the Chinese market, but the passenger car in the financial services business accounted for the proportion is not high, in order to promote the development of Mercedes-Benz financial business in China, 2012 Mercedes-Benz began to test the water car rental business set up Mercedes - Mercedes - Benz Leasing Co., Ltd. (MBLC) to expand the size of the passenger finance business. Mercedes-Benz Leasing is the first luxury brand leasing company to offer car rental solutions for corporate and individual customers in China, earning profit in 2016, as of the end of April this year, 4 months, Mercedes-Benz rental net assets of 1.064 billion yuan, after-tax net Profit of 83.448 million yuan.
With the consumption concept and the diversified development of auto finance business, China's auto financial penetration rate has increased from around 12% to about 40% by 5 years ago. At present, China's auto finance market is still dominated by commercial banks and automobile finance companies, with a total market share of more than 80%, while financial leasing companies and Internet financial companies account for less than 20% of the total. However, as of the end of 2014, the domestic approved auto finance company has more than 20, but according to Deloitte statistics, domestic 54% of personal car consumption loans provided by commercial banks, auto finance companies account for about 26% market share.
The industry analysis, financial leasing business will be the future of automobile finance development trend. Through the leasing business can achieve the transfer of ownership of the car, its products, high flexibility, short lending time, flexible payment and monthly for the lower. Not only can enhance the sales of new cars, but also to promote the development of second-hand car business. With the rise of young consumer groups, they are more concerned about the right to use the vehicle. While Mercedes-Benz leases can also benefit from the expansion of business scale. In 2016, Mercedes-Benz passenger cars in China increased the penetration rate to 38%, the loan balance increased by 31%, the new financial and leasing contracts signed more than 180,000 copies.

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