With GM recently unveiling SAAB buyers, brands such as Hummer, Saturn, and Opel have been sold one by one, and the entire vehicle brand available for mergers and acquisitions can be described as “selling less”. In the international war of automobile assets, only Sichuan Enterprise Tengzhong Heavy Industry has drawn the Hummer. The reporter learned that under the guidance of policies and the needs of enterprises, foreign investment banks have shifted their focus to marketing overseas parts and components.

Foreign investment bank moved parts and components

“Is overseas mergers and acquisitions just a 'money' issue? Have you eaten it and managed it?” In the face of risky vehicle bargaining, how can the confession be stunned by Chinese companies? Mergers and acquisitions of European and American vehicle companies, approval and decision-making departments have many reservations about this, on the grounds that the financial crisis hit hardly to know where the "bottom" of overseas vehicle production and sales is. In addition, in January of this year, SAIC Motor’s acquisition of South Korea’s Shuanglong was proved to be a defeat in the case of approval and a series of approvals. The US$500 million acquisition has taken a turn for the worse, making the approval of vehicle acquisition more tight.

“Investment interest in foreign investment banks is gradually shifting.” A senior executive who declined to be named told this reporter that Merrill Lynch recently opened a list of “investment opportunities” for Europe and America parts.

The reporter saw that these "virtual" parts and components companies approaching 20 were dazzled, with headquarters in the UK, Italy, Germany, etc. Among them were 2008 sales of 108 million US dollars Porsche developer Valmet, mainly involving the body, chassis components, Drivetrains, electronic equipment, engines, and assembly systems.

Under the auto industry adjustment and revitalization plan, domestic auto companies have shifted their focus to self-owned brands and new energy vehicles. However, they are suffering from difficulties in breaking key components such as engines and batteries for electric vehicles. The “foreign components” have been assessed under the financial turmoil. The value becomes lower, car companies can directly adopt after mergers and acquisitions, and are also free from international sales network formation.

"Ocean Parts" does not affect domestic counterparts

Then, will there be an "extrusion" effect on China's parts and components industry and reduce development opportunities? Huang Zherui, an analyst at CSM, an automotive consulting company in China, said that domestic auto parts companies are mainly labor-intensive, such as glass, and abroad. Peers are staggered in division of labor.

Yi Hongguang, an analyst at Union Securities Automotive, also stated that he is optimistic about the prospects of domestic parts and components companies. Yao Hongguang pointed out that in the past, as European OEMs have a tendency to protect local parts and components companies, the procurement system is rarely open to Chinese companies. The financial crisis has broken this obstacle and China’s spare parts companies (see Table 2) with relatively large exports are expected to In the future, there will be rapid growth.

Deterioration of foreign trade environment sizzling export credit insurance

(Reporter Ji Chenxi) "We recently helped a home appliance company in the Pearl River Delta recover more than 2.8 million dollars in purchases. The buyer is a channel supplier in Europe." Lin, a work of Guangdong Branch of China Export Credit Insurance Corporation The staff told the reporter that such amount is in the medium and high level in the ordinary commodity transactions accepted by the company. In fact, due to the intensification of foreign trade risks, the number of new claims handled by CITIC Guangdong Branch in the first five months of this year increased by 3.2 times year-on-year, and the claim amount increased by 3.1 times year-on-year. The Ministry of Commerce recently announced that it will cut the export credit insurance rate by about 30% to increase the coverage of export credit insurance, but CITIC Bank has not disclosed the specific rate adjustment plan.

Since the beginning of this year, domestic export credit insurance claims have seen a substantial increase. From the perspective of the reported loss cases, the top three are Asia, Europe and North America, and the Asian region accounts for nearly 1/3 of the total reported losses. From the newly added ultra-very-large-million-dollar reporting loss case, it mainly focused on the automotive, electromechanical and base metals industries, accounting for 68.75% of the total.