“Weichai Power, which has just resumed trading, has a direct daily limit after the opening.” This is a topic that senior investors of Weichai Power have been arguing about.

According to industry insiders, apart from the intensive launch of the revitalization plan, it is also related to overseas acquisitions of Weichai Power. Last week, the French media also broke the news that “Weichai Power has acquired the US production of the General Motors Starrsburger France”.

Weichai issued an announcement

On February 23, Weichai Power Co., Ltd. finally issued a clarification statement, saying that no agreement or agreement on cooperation has been reached with GM’s auto parts manufacturing plant in Strasbourg, France, nor has it The company provides any advice with an intention to purchase, and the company has not entered into the relevant decision-making and deliberation procedures regarding the acquisition.

Recently, rumors about Weichai Power's overseas mergers and acquisitions have risen one after another. Previously, General Motors of the United States disclosed in August that it would sell an automobile parts manufacturing plant in Strasbourg, France, and said that it had seen buyers interested in Asia.

However, Weichai Power also confirmed that it is in contact with the relevant persons of the above-mentioned auto parts manufacturing plant. According to a source from the Weichai Power Securities Office, its wholly-owned subsidiary, Weichai Power (Hong Kong) International Development Co., Ltd., had had preliminary contact with the manufacturing plant in December 2008 on technologies, products and other aspects. The possibility of cooperation was initially discussed and researched, but so far, no contact has been made with the shareholders of the plant regarding the acquisition.

The Weichai Power’s clarification communique also stated that if there is any progress, the company will promptly make corresponding disclosures in accordance with the listing rules and company regulations according to the specific circumstances.

In response, the reporter interviewed a number of people in the industry. They are quite optimistic about Weichai’s acquisition of this manufacturing plant. They think this is very possible. Now the cost of auto parts abroad is lower than that of China, and this one is purchased. The factory is also good for Weichai.

Some analysts also said that in addition to some export business, Weichai Power's overseas business is very small. At present, the company's tentative deployment is also due to the fact that the current purchase price is relatively small.

M & A is not nothing

Despite rumors, Weichai Power is not gaining nothing in overseas mergers and acquisitions. On January 23 this year, the company’s subsidiary Baudouin’s assets have been obtained through a bid of 2.99 million euros. The book value of this asset is approximately 13.8177 million euros. At present, the asset transfer contract has not yet been signed, but the acquisition project is performing related administrative approval procedures.

According to statistics, Boduuan has a registered capital of 3.55 million euros and its registered address is in Cassie, Prosvén, France. It has a history of more than 100 years. Baudoin is mainly engaged in the design, development and sales of professional engines and drive assemblies.

Weichai Power stated that “through this acquisition, the company will acquire Baudouin’s products, technologies and brands, promote the company’s further development of foreign markets, learn from the globalization of product development positioning and technology management experience, and expand the company’s The scope of product support to promote the coordinated development of the business."

However, the automotive industry analyst Wen Jinhua said in an interview with the China Economic Times that this is just a small test of Weichai Power's expertise. He wanted to see how deep the foreign water is, so this acquisition will increase the company's size and increase the company's size. Business does not make much sense. In general, all kinds of risks are controllable.

In spite of this, previous joint ventures such as Mercedes-Benz and Volvo’s joint ventures in China all ended in failure, which has to be taken seriously.

Ping Bing Auto analyst Yu Bing believes that it can be seen that Weichai Power's acquisition target is relatively small. Therefore, for the company's overall technology and revenue, there should be no impact in the short term. This acquisition is actually preparing for long-term profit.

In addition, for some outside doubts, Weichai Power stated that the transaction does not constitute a connected transaction. After preliminary calculations, the transaction did not meet the transaction standards that should be disclosed, which did not have a significant impact on the company and did not constitute a major asset acquisition.

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