Hello, everyone. Im qingliujun who is trying to make money to buy a car. However, when it comes to BMWs new car, it will definitely escape.
Since 2006, brilliance group has been ranked first among tax paying enterprises in Shenyang for 15 consecutive years, and the tax payment was even more than half of the total amount of top ten tax payers in Shenyang. Sounds great, doesnt it? But in fact, all the aura and glory comes from BMW, not brilliance.
As a matter of fact, since July this year, brilliance has fallen into a stock bond storm, with many bonds plummeting, and media reports are often marked with the words 100 billion debt topping. It can be said that overnight, the building will collapse.
The operation is as fierce as a tiger, and it is the first company to go to the United States
In the video of Henan pyramid marketing organization insider disclosure in the Qingliu plus series, we once mentioned that the original stocks are always famous for their low price and ultra-high return. It is easy for the uncles and aunts to fall in love with the original stocks, because in their young age, some people really became rich overnight because of the original stocks. For example, Yangrong, entering the auto industry, made a fortune by original stocks.
In 1987, Zhao Xiyou, director of Shenyang Agricultural machinery and automobile industry bureau, was ordered to combine more than 50 auto parts enterprises in the city into Jinbei Automobile Company. At that time, the golden cup was short of funds and was on the verge of bankruptcy, so it decided to try to reform the joint-stock system to raise funds. In 1988, the golden cup first publicly offered 100 million yuan of preferred shares to the public, at a rate of 1 yuan per share. At that time, almost no one knew about the stock, so half of these original shares did not sell after the end of the subscription period.
After all, he was a man who worked in the East Lake Hotel in Shanghai. With the money made in the stock market and borrowing money, he bought 46 million original shares of Jinbei in one fell swoop and entered the automobile industry.
After borrowing money to buy shares, Yangrong began to carry out radical reform on the golden cup. First, in 1991, it established a joint venture with Hainan Huayin International Trust and Investment Co., Ltd. and Jinbei Automobile Co., Ltd., and then bought 40% of the shares of Jinbei Automobile with us $12 million in 1991, and then expanded the shareholding ratio to 51% through share exchange operation, becoming the largest shareholder.
But there is no plate Yangrong cant handle. The next step is to witness his operation.
Yangrong first opened a shell company in Bermuda, called Brilliance China Automobile Co., Ltd. After that, four institutions, including the central bank and the China Institute of finance, set up a non-profit organization, China financial education foundation, in Shanghai. This foundation has 55.85% equity of Brilliance China, while the actual controller of brilliance is still Yangrong.
To get to the point, with 46 million original shares, the golden cup really started a good start for Yangrongs automobile empire. In 1997, Yangrong was ready to create brilliance china brand, and its vehicle design invited Italian palace designer Giorgio to participate. The engine part directly bought Shenyang Aerospace Mitsubishi engine factory, and the product research and development cost 100 million yuan without saying a word.
Ideal fullness, realistic bone feeling. The car was made, but Brilliance China didnt get the vehicle sales qualification. He couldnt sell the car at all! So the first batch of cars were digested by employees.
But dont worry, there are three ways to do it. While preparing Brilliance China brand, brilliance still has a way to go, which is to make pickups. As early as 1999, Yangrong had a successful marriage with Tianye automobile, the predecessor of Baoding automobile factory, and gave birth to a child named Zhongxing.
In addition to ZTE, the biggest gift the field brings to brilliance is BMW! At that time, BMW was looking for a domestic partner, and it had several contacts with fieldwork.
And brilliance is through the field, and BMW colluded with. In 2001, brilliance and BMW formally began to contact each other. In October of the same year, brilliance BMW Automobile Co., Ltd. was established. At that time, the leader of BMW domestic project team was Yangrong.
At the same time, Yangrong has promoted the joint venture between Jinbei and GM through various operations, and has also taken over Sanjiang Renault in Xiaogan, Hubei Province, holding 55% of the shares, and plans to introduce Renault family economic cars.
So far, through various operations of Yangrong, brilliance Empire gradually emerged, with a market value of 24.6 billion, including 5 listed companies and 158 affiliated companies, which was called brilliance maze by the media at that time.
A thought of the difference, one fell into the cliff
But Yangrong, who laid out the brilliance maze, did not expect that he would soon be driven out of the maze.
In 2001, the Muma big case broke out in Liaoning Province, involving many corruption cases of officials. The incident was later adapted into a TV series the river goes East. Interested friends can go and have a look.
In March 2002, Liaoning Province set up a working group to receive brilliance assets and began to comprehensively check, verify and receive brilliance assets. In June 2002, Brilliance China announced the dismissal of Yangrongs chairman of the board of directors and chief executive officer. The public security department also announced that Yangrong was arrested by the Liaoning Provincial procuratorate for suspected economic crimes.
Naturally, Yangrong was not satisfied. His appeal to the Beijing Higher Peoples court was fruitless, but he also sued in the United States. Yangrong has also disclosed to the media that it is his most regretful thing to insist on investing in Ningbo, but there is no regret medicine in the world.
Yangrong went to the United States in May 2002 and has never come back. But he didnt disappear. In 2009, he started Zhengdao automobile, which is another story.
What is the future of brilliance, which has become a parasite after abandoning martial arts?
After Yangrong left, brilliances helmsman has changed at least four waves, but none of them has been able to make a difference. Even if the government later issued a number of favorable policies for brilliance, including rapid approval of Brilliance Chinas production and sales qualification, it still failed to improve.
Relying on BMWs gold lettered signboard to win brilliance, slowly fell into the embarrassing situation. On the one hand, although BMW is outstanding, BMW Brilliance has become increasingly unable to control BMW. In 2018, Brilliance China signed an agreement with BMW, and BMWs equity in BMW Brilliance increased from 50% to 75%, with more absolute control and discourse power.
Brilliance has been lying in peace and contentment all the way. A big reason is that it believes in the support of the government. Brilliance group, especially BMW Brilliance, affects the development and investment of the whole automobile industry chain in Shenyang and even Liaoning Province. It has more than 160 related companies and 47000 employees. The government cant watch 45000 people go home after being unemployed overnight.
The government did help, mainly by providing financial support to brilliance by taking over part of the equity of brilliance. On May 27, brilliance group sold 200 million shares of brilliance china equity to Liaoning Jiaotong Investment Co., Ltd., accounting for 3.96% of Brilliance Chinas equity; on July 14, Liaoning Jiaotou started another 400 million shares and obtained 7.93% of the total equity.
In recent years, there are not a few cases of Liaoning government trying to take over for weak enterprises. From northeast special steel to Huishan dairy, then to Dalian machine tool and Dandong Port Group, the government tried its best to help these big taxpayers tide over the difficulties.
With strong government support in a short period of time, brilliance may not collapse suddenly. But if we wait for death, who can guarantee that brilliance will never go bankrupt and restructure?
The equity delivery for BMW to increase its shareholding in BMW Brilliance is planned to be completed before 2022. By then, BMW Brilliance will have less and less blood transfusion for brilliance groups own brand, and brilliance will have less confidence and chips in front of the government.
You cant rely on the government. What about yourself? Unfortunately, the brutal market will not wait for a failed straggler.
Looking back on the past, BMW has spent 17 years using brilliance to open up the Chinese market and firmly occupy the leading position in the market before regaining its rights. Two words, absolutely.
Brilliance, on the other hand, relies too much on BMW and abandons its martial arts skills, resulting in no improvement in its own product line. However, Yangrong, who created the brilliance empire but was suddenly out of the game, made a mistake and lost all over the market. Whats more, its hard to let the listeners feel sorry.