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The former chairman of Jianghuai Automobile has been investigated!

2024-04-24 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)04/03 Report--

Unexpectedly, Amgen, who worked in Jianghuai Automobile for 47 years, finally fell off the horse.

According to the Anhui Provincial discipline Inspection Commission, an Jin, former party committee secretary and chairman of Anhui Jianghuai Automobile Group Holdings Co., Ltd., is currently under disciplinary examination and supervision investigation by the Anhui Provincial discipline Inspection Commission.

In fact, it was reported last year that Amgen was being investigated. At that time, there were media reports that an Jin, former party committee secretary and chairman of Jianghuai Automobile Group, was being investigated by relevant organizational departments, or that he was suspected of violating the law during his time at the helm of Jianghuai Automobile Group. In response to the relevant reports, Jianghuai Automobile did not issue an announcement to refute the rumors, but rarely responded to the news that Amgen was investigated from the side through a work report briefing.

On July 15, 2023, Jiangqi Group held a work briefing, at which Xiang Xingchu, party committee secretary, chairman and general manager of Jiangqi Group holding Company, informed the production and operation of Jiangqi Group in the first half of 2023 and the key work arrangements for the second half of the year. Veteran leaders of Jiangqi Group holding / Co., Ltd., Anjin, Wang Zhiyuan, Li Debin, Wang Dongsheng, and Wang Delong, Yin Xingke, Zhang Peng and Song Hua, members of the party committee of Jiangqi Group holding Company and deputy general manager of Jiangqi Group Co., Ltd., attended the briefing. Jiangqi Group also specially stressed that the old leader is not only the contribution to the development of Jiangqi Group, but also the precious wealth of Jiangqi Group, but also an important force to promote the high-quality development of Jiangqi Group.

Although Jiangqi Group did not publicly and directly refute the rumor that Amjin was investigated, the article also responded laterally: "if checked, can you still participate in the work report meeting as the 'soul' of Jiangqi Group?" As the Supervisory Commission of the Anhui discipline Inspection Commission informed Anjin that it had been investigated, Automotive Industry concern found that the article had already been deleted.

Before the downfall of Amgen, including Xu Heyi, former party committee secretary and chairman of Beijing Automobile Group Co., Ltd., Yin Jiaxu, former party secretary and chairman of China Arms Industry Group Co., Ltd., Qi Yumin, former party committee secretary and chairman of brilliance Automobile Group Holdings Co., Ltd., Xu Jianyi, party committee secretary and chairman of China first Automobile Group Co., Ltd., and other leaders of well-known automobile enterprises were investigated one after another.

Amgen is not only a native "Jiang Steam Man", but also a "second generation of the factory". His father was the old factory director of Jianghuai Automobile.

According to the data, Amgen was born in April 1957 and has been working in Jianghuai Automobile since March 1975. He has 47 years of working experience in the automotive industry. He has served as the director of the General quality Office of Hefei bus General Factory, the deputy director and director of Automobile Research Institute of Jianghuai Automobile Co., Ltd., the director and deputy general manager of Jianghuai Automobile Co., Ltd., and the vice chairman and president of Anhui Jianghuai Automobile Group Co., Ltd. General Manager of Anhui Jianghuai Automobile Co., Ltd.

In February 2012, Jianghuai Automobile announced that Zuo Yanan had resigned as chairman of Jianghuai Automobile because of his retirement and was replaced by an Jin, then general manager. In April 2021, Jianghuai Automobile announced that Amgen had resigned as chairman due to retirement and was replaced by Xiang Xingchu, then vice chairman and general manager. At this point, the head of Jianghuai Automobile completed the transfer of power, and Amgen, who had served for four years over the age, officially ended.

When Amgen was the head of Jianghuai Automobile, there were mixed comments from the outside world.

In the era of fuel cars, Jianghuai Automobile has been unknown in the field of passenger cars, when other car companies are making great strides, when Amgen retires JAC Automobile is even worse than before. In 2016, JAC and Weilai reached a cooperation to produce ES8, ES6, EC6 and other models for Weilai, so as to avoid going to the edge of the market, but the partnership will expire in May this year. Weilai previously achieved independent car construction through the purchase of JAC auto assets, no longer relying on JAC.

In 2017, Jianghuai Volkswagen Group and Volkswagen Group established Jianghuai Volkswagen Co., Ltd., Jianghuai Automobile and Volkswagen China each held 50% of the shares, and both sides launched the Sihao brand, but the brand soon died, and Volkswagen China expanded its stake. Increase the shareholding to 75%, and change the company name to "Volkswagen (Anhui) Co., Ltd.". In other words, Jiangqi Group does not have a say in the joint venture.

In 2023, JAC announced that it would work with Huawei to jointly create a "Jie" brand and become a member of Huawei Hongmeng, and its first model was priced in millions, against Mercedes-Benz Maybach. but the high price means it can't go anywhere.

Of course, Jianghuai Automobile is also developing new energy vehicles. In April 2023, Jianghuai Automobile released the new energy passenger car brand-Jianghuai Yttrium, which focuses on the market of 7 to 150000 yuan, and anchors the revenue target of "millions of vehicles + 100 billion yuan" in 2025. Two months later, Jianghuai Yttrium went on the market for 3, with a price range of 8.99-127900 yuan. Retail data show that yttrium sold 11384 vehicles in the year to December, compared with 578 in the first two months of this year.

According to the financial report, Jianghuai Automobile deducted non-net profit losses for six consecutive years from 2017 to 2022, with a cumulative loss of more than 9 billion yuan. On January 30th, Jianghuai Motor issued a performance forecast for 2023, which is expected to achieve a net profit of about 136 million yuan belonging to the owner of the parent company in 2023. Compared with the same period last year, it will turn a loss into a profit, but the probability of deducting non-net profit will be negative, but the loss will be significantly narrowed compared with 2022.

Affected by the investigation of former chairman Amjin, Jianghuai Motor shares fell 3.9%, with a latest market capitalization of 36.51 billion yuan.

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