Eight years later, Mr Wong returned in a different way, bringing back a new story about new energy vehicles.
On November 27, Skyworth announced that it intends to acquire the equity interests of Kaiwo New Energy Vehicle Group Co., Ltd. and its subsidiaries held by its controlling shareholder Huang Hongsheng or its holding company (Hereinafter referred to as Kaiwo Motor) is still in the preliminary negotiation stage. The Company has not entered into a formal agreement with Huang Hongsheng on the potential acquisition.
Although Kai Wah Automobile was officially established this year, the group company, but behind the pack but with Huang Hongsheng 'second start-up' achievements - Nanjing Golden Dragon 6 years ago, Huang Hongsheng from the appliance predators transformed into a rookie, will bankrupt Nanjing Dragon dragged back from the cliff; 6 years later, the new version of the concept of new energy vehicles appeared in the car, Nanjing Jinlong has firmly sit the new energy bus industry second place.
At this point away from the proposed preparation for the listing of more than a year after the war, the independent listing unsuccessful, but there was the news acquired by Skyworth, does this mean Huang Hongsheng want to inject new energy automotive business into the main body of the listing? If the press This development, perhaps again can tell a story of double color TV and new energy vehicles.
The 'second' empire prototype emerged
With Huang Hongsheng arrested eight years ago, Skyworth's venture plot will come to an end, after being released in 2009, Huang not only did not blame Skyworth Handsome India, also sold 100 million shares of Skyworth, to join the automotive industry.
For why choose cross-border cars, Huang Hongsheng that after 20 years, China's color TV has become the world's largest producer and sales of countries.The domestic auto industry should also be mode of development of home appliances, take the road of independent innovation, and actively participate in international competition.
Huang Hongsheng take cash-HK $ 900000000 became a source world investment company, and took over the Nanjing Jinlong this 'mess.' Nanjing Jinlong formerly known as Nanjing Dongyu Group, China's bus industry with the top three Xiamen Jinlong A joint venture of a professional passenger car manufacturer to develop 'Jinlong' brand new natural gas mid-size bus, however, due to the small size of Nanjing Dongyu, product quality could not keep up with the signature of 'Jinlong'
Huang Hongsheng had previously interviewed the media as 'orphan' to describe the Nanjing Golden Dragon more than five years ago, but it was such an orphan, which made Huang Hongsheng's cross-border legend. In 2011, Chuangyuan Subsidiary Nanjing Since then, Huang Hongsheng has served as the chairman of the board from Nanjing Jinlong and embarked on the journey of "Second Start-up" since it was jointly funded and reorganized by Nanjing Jinlong and Nanjing Dongyu Automobile Group.
At this point Dong Mingzhu has not yet proposed the acquisition of Zhuhai Silver Dragon, Jiayue Ting did not start repairer scheme, although Huang Hongsheng 'an antecedent' step, but it is so easy to cross-border can be done.First, Nanjing Dragon for 4 consecutive years, Annual loss of 40 million or more.According to Huang Hongsheng said that since 2011 into the field of new energy vehicles, before and after more than a dozen billion investment.
However, Huang Hongsheng finally ushered in the 'second spring.' Data show that in 2014 Nanjing Jinlong pure electric bus production reached 1890 units, ranking second in the domestic industry; to 2015, Nanjing Jinlong electric bus production reached 8796 Taiwan, an increase of 400%, the second reelection runner-up, second only to Yutong buses.
Nanjing Jinlong, which completed the cornering pass, is no longer satisfied with this market in Nanjing. In 2017, Kaiwo New Energy Vehicle (Group) Company was formally established and the production bases of Shenzhen and Wuhan were opened at the same time. Huang Hongsheng finally built Group prototype of new energy vehicles.
In addition, its Chongyuan power project will be built in Guangzhou by the end of 2017, with an annual output of 10GWh power battery system development and PACK production base. Nanjing Golden Dragon has not slowed down the pace of expansion.
Skyworth acquisition Kaiwo intent?
From Nanjing Jinlong to Kwan Wook Group, means that Huang Hongsheng's new energy business into the next stage.
Wang Liang, assistant to chairman of Kaiwo Motor Co., disclosed to the media that the company has started preparations for listing since August last year and plans to introduce strategic investment in 2018. Although the announcement of the listing will be delayed, Skyworth will be the first to board the deal. In fact, the acquisition has long been a precursor.
Zhisheng Financial Review found that Huang Hongsheng 's "second pioneering" over the past few years, holdings of Skyworth Digital, has already 100 million shares of Skyworth cash Xian Chu fully overweight holdings, shareholding increased 5.8% to 39.13%.
The other side of Huang Hongsheng holdings, it is the slowdown in Skyworth digital growth in revenue and net profit for 3 consecutive years of decline.Upstream panel prices swallowed the color TV plant profits, and the saturation of the domestic color TV market has brought intense Competition, so that the overall performance of color TV enterprises damaged in the first half of this year, Skyworth net profit from digital profit to loss of 192 million Hong Kong dollars.
Although the current paper price correction, but the market believes that the overall upward trend has not changed, the price of television panels will remain high, while the most severe real estate regulation in history also led to the traditional home appliance market downturn.According to Orwell cloud network ( AVC) In the third quarter of 2017, the domestic color TV market sold 10.41 million units, down 12.9% YoY.
Although Skyworth now hopes of intelligent transformation, but it still early to say goodbye to difficult, but Huang Hongsheng's new energy automotive business done well. As of the end of 2016, Nanjing Jinlong sales revenue of nearly 5.5 billion yuan, Maintained a 3-year performance growth, while the company's total assets have reached 7.838 billion yuan, net assets of 1.429 billion yuan.
Skyworth Digital said it would adjust and optimize its business structure if it completes its potential acquisition of Kevwo, but the market does not appear to be optimistic about the deal, and its share price decline has hit 16% and hit a 3-year low .
Gree has been a lesson to be learned, its cooperation with Zhuhai Silver Long road can be described as bumpy, Skyworth and Kwan Woo's story sounds difficult to move people's hearts.New energy vehicles at billions of dollars at ease, and in the current environment of subsidies to the downslope , The funds needed for the restructuring of Skyworth or the "additional" way that Gree will be opposed by shareholders.
In addition, Huang Hongsheng can complete cross-border business, does not mean that Skyworth can do cross-border transformation.Home appliances industry is no shortage of 'made cars' failed cases: Oaks struggled to terminate the car dream for 2 years, Chunlan Group hardship for 11 years to withdraw Bus market, the United States bus ambition five years into the production cut-off ......
Gree's car repair plans uncertain future, Skyworth and illustrious.