JAC intends to be the "heart" of two product lines for passenger cars and commercial vehicles. The company announced on October 30 that it plans to use its own capital of 50 million yuan to invest in diesel engines for 1.9LCTI passenger vehicles. At the same time, it plans to join hands with Navistar to launch a joint venture in the engine of medium-heavy trucks to improve the company's existing engine product technical performance and scale.

In addition, it is planned to set up a Sino-foreign joint venture company with Hefei in NC2 Global LLC with a total capital of not less than RMB 2 billion. It is responsible for the production, manufacture and sale of medium-heavy trucks and truck parts and other businesses, and is expected to improve the company’s existing business. Heavy truck output 3 times.

Force heavy cards

Jianghuai company introduced that the company plans to use its own capital of 50 million yuan to invest in diesel engines for 1.9 CTI passenger cars. The project is based on the company's existing engine production technology and facilities, and the related production equipment will be added to form a production capacity of 20,000 diesel engines for 20,000 units of 1.9CTI passenger cars in a double-class production period. The project is scheduled to be constructed in 18 months.

In addition, Jianghuai also plans to do large, medium and heavy truck business. The company disclosed that it plans to set up a Sino-foreign joint venture company with NC2 Global LLC in Hefei, Anhui. The total investment of the joint venture will be not less than RMB 2 billion and the registered capital will be no less than RMB 800 million. The proportion of the two parties in the joint venture company is 50%:50%. In the initial investment, the company invested the assets and business of almost all its medium trucks and heavy trucks as joint ventures.

Jianghuai Automobile expects that the joint venture will initially increase the company’s existing production of heavy-duty trucks by three times, and its production will gradually increase in the future.

In order to provide strategic support to the Zhongqika joint venture, Jianghuai Automobile also plans to enter into a joint venture with the American company Navistar, Inc. in the engine business. The joint venture company's business scope is to develop, manufacture, manufacture and sell diesel engines for commercial vehicles. The registered capital and total investment are in line with the national industrial policy (the total investment of the joint venture company is not less than RMB 1.5 billion and the registered capital is not less than RMB 500 million). The proportion of the two parties in the joint venture company is 50%:50%.

Jianghuai Automobile stated that this joint venture is one of the important measures for the adjustment of the company’s products and investment structure. It can not only obtain world-class product, technology, management, and other business support in the engine field, but also have a long-term strategy for the company to achieve and enhance its value. positive effect.

Annual increase in performance

The three quarterly reports disclosed by JAC Automobile on the same day showed that from July to September, the company realized a net profit of 140 million yuan attributable to the shareholders of the listed company, an increase of 194.73% year-on-year, a basic earnings per share of 0.11 yuan, and an earnings per share of 0.2 yuan in the first three quarters. The company also expects that the company's full-year net profit in 2009 will rise by more than 50% compared with the same period of last year.

Judging from the performance, Jianghuai Automobile has now reversed its previous sluggish performance, and the transitional comprehensive automobile companies have taken initial effect. In response, Wang Min, the secretary of the company’s executive secretary, said that in the final year of the “Eleventh Five-Year Plan” strategy, this year it will mainly build a product platform for passenger cars and define the core business and strategic business of Jianghuai. It can be said that 2009 is still Jianghuai’s “ Year of infrastructure construction." 2010 is the first year of the “Twelfth Five-Year Plan”, and it is also a crucial year for Jianghuai to “comprehensively exert strength and key breakthroughs”. It will continue to maintain the industry-leading advantages of Ruifeng and light trucks, and the listing of Heyue will make Jianghuai passenger vehicles. Entering the mainstream market of the car market; in 2010, the quantity of new and old products such as Heyue sedans, Ruifeng commercial vehicles, and light trucks, as well as the benefits of sedans, will be the "leap year of development" of Jianghuai.