The Company intends to transfer the fixed assets (buildings, machinery and equipment, electronic equipment), construction in progress and other intangible assets related to the manufacture of red flag products to the controlling shareholder China First Automobile Co., Ltd. (hereinafter referred to as "FAW"). According to the assessment report issued by Beijing Zhonghua Assets Appraisal Co., Ltd., the Company valued the above assets at a transaction price of RMB427.5903 million, which was confirmed by both parties. The Company intends to transfer the aforesaid assets to FAW Shares.
In this announcement, FAW Car also stated the reasons for the transfer: "red flag products in the brand cultivation period, not yet formed economies of scale, the company's current business development constitute a certain pressure.In order to better long-term development and development of red flag brand, Red Flag brand, reduce the company's operating pressure, concentrate on doing the Pentium and other independent vehicle type business, "before deciding to transfer the assets.
According to the announcement that the transfer of assets of the related party transactions have been in the seventh session of the seventh meeting of the Board of Directors considered in the transaction contract signed into effect within 20 days after the FAW needs to pay the FAW car transfer of asset prices. In other words, to that time, the red flag on the ownership of FAW shares, independent from the FAW sedan. However, the announcement also mentioned that the current transaction has not yet completed the signing of the contract, the need for the Board of Directors to consider.
In March of this year, the FAW Board of Directors approved the establishment of the red flag division, and the red flag business department and FAW car for the future flat units. This news is published, the industry began to look forward to the red flag brand independence. Red flag is a milestone in China's auto industry, but the rapid development of the domestic auto market period, the red flag but more "low-key", so the industry's expectations for brand independence is high. Prior to the view that the status of the red flag, and FAW car brand in the joint venture to invest more attention is not unrelated.
Now the second boot has fallen. Independence For the red flag, there is no doubt is a good thing. However, independent of the red flag, is just the beginning. In silence for so long, the red flag is currently in the sale of product line exception thin, only L5 and H7 two models. Therefore, after independence, how to expand the product lineup, good market positioning is a priority.
Beijing auto show this year, the red concept car released B-concept and S-concept, the former production models will be listed in late 2017. According to reports, this product is the flagship of the red flagship product of the younger. According to the Guangzhou Auto Show announced the news, H7 facelift is also expected to launch next year.
Since then, the red flag will be put at least a year, a product, and in 2020 completed eight product line layout, covering from B to E-class sedans, SUV and high-end commercial vehicles and other market segments.
In addition to the product line, the enterprise value chain system construction, from product development to the terminal sales and after-sales service, for the red flag, is also the will of the war. And other brands, the red flag is not short of brand power, need to consider is how to make the brand of the brand glow with new brilliance. On the red flag after the independence of things, car cloud bacteria will offer a depth of interpretation, so stay tuned.
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