On the evening of February 21, 2017, Jinbei Auto announced that Shenyang Jinbei Anduotuo Auto Parts Co., Ltd., which was jointly invested by the company and Adient Asia Holdings Co., Limited (hereinafter referred to as Andorra Asia), has It was established on February 17 and has completed industrial and commercial registration. The main business scope of the joint venture company includes designing and producing car seats and other auto parts, technical consultation and technical services of the above products; wholesale, import, export and after-sales services of the above-mentioned products related to molds and accessories.
Signed a well-known car seat supplier
Speaking of the marriage of Jinbei Auto and US-listed company Andordo (NYSE: ADNT), it will be traced back to the end of September 2016.
On the evening of September 29, 2016, Jinbei Auto announced that the company intends to sign a joint venture contract with Andoroz Asia to establish a joint venture company due to production and operation needs. The registered capital of the joint venture company is planned to be 20 million US dollars, and Jinbei Auto and Andoroz Asia will each contribute 10 million US dollars, each accounting for 50% of the joint venture company.
The main business activity of Andorra Asia in the last three years is to hold investment in automotive-related companies in the Asia Pacific region. These invested companies are mainly engaged in the production of seats and interior components for automobiles and trucks.
According to the data, Andorto is currently the world's largest supplier of car seats. It was listed on the NYSE in October last year. It has a total of 31,000 employees in China and a seat joint venture and 64 in 34 cities across the country. Manufacturing plant. In FY2016, Andorto achieved sales revenues of US$7.5 billion in China, most of which came from joint ventures with unconsolidated statements. Andorth has now become China's largest global car seat supplier, supporting its outstanding automotive models with outstanding quality, technology and performance. In early January of this year, Andorto announced that it had set up a new headquarters office in Shanghai. On the 24th of the same month, Jinbei Auto signed a joint venture contract and “Articles of Association†with Andorra Asia.
Estimated loss of 220 million yuan in 2016
"Daily Economic News" reporter noted that Jinbei Automobile disclosed the 2016 annual performance pre-loss announcement on the evening of January 25, 2017, saying that due to the serious depreciation of the Russian ruble exchange rate and the Russian government's levy of automobile scrap tax, the company's subordinate Russian son The company's operation suffered a loss. The company plans to make a large amount of asset impairment provision in the current period. In addition, the company's vehicle sales volume dropped sharply year-on-year, resulting in a large loss in the company's vehicle business. The company expects a loss in 2016 operating results. The net profit attributable to shareholders of listed companies is about 220 million yuan. It is worth noting that the company's net profit attributable to the same period in 2015 was 35,746,800 yuan.
Then, why did Jinbei Automobile also invest 10 million US dollars to establish a joint venture with Andoroz Asia in the case of a sudden drop in vehicle sales and a large loss in performance?
On the afternoon of February 21, the reporter of "Daily Economic News" called Jinbei Automobile as an investor. Zhao Xiaojun, the company's director-general, said that the company established in joint venture with Andorra Asia is the original joint venture company of the company - Jinbei Jiangsen ( Based on Shenyang Jinbeijiangsen Auto Control Automotive Interior Parts Co., Ltd., the main purpose is to expand the company's own auto parts and accessories in the future. Zhao Xiaojun said that because the car seat was also the company's business scope before, whether it will expand the production capacity of the car seat in the future depends on the actual needs of the manufacturer.
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