JAC "Fake Country IV" exposure

Recently, incidents in which Jianghuai and other brands of heavy truck dealers sold vehicles of the State III as models of the State IV to be sold on the market were exposed. In CCTV and other media reports, Jianghuai Automobile was accused of colluding with distributors and forging false product certifications. Way to get market orders.

On May 16, Jianghuai Automobile (600418, SH) issued an announcement saying that "the report involved individual dealers of the vehicle involved in the transfer of goods by the National III standard heavy truck replacing the national IV vehicle sales," and said that "will be on the distribution The company adopts strict management, regulates its sales behavior, and requires that the products it sells conform to the environmental protection regulations of various places."

Some industry insiders believe that the incident will have a negative impact on the JAC brand and its products. If the event is further fermented, it will have an adverse impact on Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as “Jianghua Group”) which is accelerating its overall listing.

Respond to the "Fake Country IV" incident

On the evening of May 16, Jianghuai Automobile released the “Announcement on Media-Related Reports”, stating that “the report involved individual dealers of the vehicles involved in the transfer of goods to replace the national IV vehicle sales with the National III standard heavy truck”, but Jianghuai will It strictly inspects the sales area of ​​heavy trucks, adopts strict management for distributors, regulates its sales behavior, and requires that the products it sells comply with the regulations on environmental protection throughout the country.

In response to CCTV’s report on the “false certificate” used by Jianghuai Heavy Trucks, Jianghuai Automobile did not make a statement. Its relevant personage of the securities department said in an interview with “Daily Economic News” reporters that “everything is subject to the announcement”.

The Ministry of Industry and Information Technology announced on April 23 this year that on January 1, 2015, the National III diesel vehicle products will not be sold. At this point, the timetable for the full upgrade of diesel vehicle emissions to the national IV standard was finally confirmed.

After being exposed by the media, the Jianghuai heavy truck dealer's tone has also changed. "We haven't started selling cars of the State III since last year, even if you can't buy the cards." Prior to this, Daily Economic News reporters were When the consumer’s identity was consulted with distributors, some dealers had stated that the national III models they sold could be branded on the National IV model and provide services such as annual inspections.

"Unlike private cars, vehicles are a means of production for heavy-duty consumer groups and therefore must be price-oriented at the time of purchase." A person in the heavy-duty truck industry told the Daily Economic News reporter, "National IV The pre-vehicle purchase cost is about 30,000 yuan higher than that of the National III. In the later period of use, about 20 yuan of urea need to be filled every 100 kilometers, and the cost of car purchase and use cost are relatively high."

In addition, in view of the above-mentioned sources, the imperfections of supporting facilities, such as the scarcity of urea filling stations, are also important reasons why China IV cannot be well accepted by the market.

Faster overall listing process

While explaining the media reports, JAC also issued the “Circular on the Transfer of Equity of Anhui Jianghuai Automobile Group Co., Ltd.”, stating that “the Anhui State-owned Assets Supervision and Administration Commission transferred its 70.37% stake in Jiangqi Group to gratuitously Anhui Jianghuai Automobile Group Holding Co., Ltd. (hereinafter referred to as “Jiang Auto”), after the completion of the equity transfer, Jiang Auto Holdings indirectly held 35.43% of the company’s shares through Jiangqi Group, and the actual controller of the company remained unchanged. For the SASAC of Anhui Province.

The change of shareholding means that the overall listing of JAC Group is increasing.