After the waves came in, the waves in front beat the coast. On the evening of July 30th, 39-year-old Li Xiang led Li to officially land in the US stock market, with a closing market value of $65,438 +0.398+0.7 billion. On July 3rd, Kloc-0, 63-year-old Xu Heyi stepped down as Party Secretary and Chairman of BAIC Group due to his age. On this day, the closing market value of Beijing Auto was HK$ 30.298 billion, while the closing market values of Beiqi Blue Valley and Beiqi Foton were RMB 23.722 billion and13.085 billion respectively. The three people add up to only 66% of Li's, less than 70%.
Market value performance is not equal to production and sales performance, but Li Xiang's ringing of the bell and Xu Heyi's resignation have formed two contrasting atmospheres. The former had a moment of infinite scenery, and the latter, like many former heads of automobile state-owned enterprises who retired to Ren Rong, waved his hand without taking away a cloud, which was a comment on the merits and demerits.
500 sickle venture
Xu Heyi became attached to BAIC in 2002, when he was the deputy secretary and vice chairman of the Party Committee of BAIC Holding Company, and the party secretary and chairman of Beijing Hyundai Company.
Xu Heyi's first major event after taking office was the Beijing Hyundai Project. As the first automobile joint venture project approved by China after China's entry into WTO, Beijing Hyundai was of self-evident importance to BAIC, which was in a development dilemma at that time, and everything was going on at a high speed.
At the end of May 2002, both parties to the joint venture signed a contract. After signing the contract, it is imperative to build a factory and put it into production as soon as possible. Xu Heyi led the preparatory team to work around the clock. The factory was deserted and overgrown with weeds, so Xu Heyi took his colleagues and each of them sent a sickle, starting with weeding, which gave birth to the story of Beijing Hyundai's "500 sickle entrepreneurship".
Under the leadership of Xu Heyi, the former Beijing Light Automobile Factory was rebuilt in only four months. On February 23, 65438, the first Sonata sedan officially rolled off the assembly line. As a result, Beijing Hyundai created a joint venture miracle of "signing a contract, building a factory and putting into production in the same year", and achieved rapid growth in production and sales in the following ten years, creating a "modern speed" in the industry.
The success of Beijing Hyundai has laid a solid foundation for Xu Heyi to take charge of BAIC in the future.
14 years 500 billion
From June 2006 to October 2006 10, Xu Heyi became the Party Secretary and Chairman of BAIC Group and officially took the helm, thus BAIC entered the Xu Heyi era.
Before and after 2000, BAIC didn't have much presence in the "six major automobile groups" in China, but there was a clear gap compared with FAW, Dongfeng and SAIC, and Xu Heyi's task was to really "make BAIC bigger".
In 2006, BAIC Group produced and sold 680,000 vehicles, with a revenue of 58.7 billion yuan, and 654.38+000 billion yuan was the first goal of BAIC Group, which was completed in 2009. Production and sales in that year1240,000 vehicles, revenue 1654.38+066 billion. Ten years later, in 20 19, BAIC realized the production and sales of 2.26 million vehicles, with an operating income of 510.23 billion yuan, becoming the first state-owned enterprise in Beijing with annual revenue exceeding 500 billion yuan.
Xu Heyi has done several important things for the success of BAIC. First, has it been formulated? The development strategy of "taking the road of collectivization, realizing leap-forward development, and building Beijing automobile industry into an important pillar of the high-end industry of the capital economy and the pillar industry of modern manufacturing industry" has strengthened the business integration and control of the subsidiaries of BAIC Group and realized the business synergy effect.
Xu Heyi has also proposed and implemented the construction of "five platforms" such as "complete vehicle, spare parts, independent research and development, service trade, reform and adjustment", which has formed the synchronous development of cars, off-road vehicles, commercial vehicles and new energy vehicles.
In foreign joint ventures, BAIC has achieved deep "binding" with Daimler through the "Beidaihe" project. In 20 13, the two parties reached a cooperation agreement, with Daimler contributing 0/2% of the shares of BAIC1%in Beijing Benz and 5 1% in Beijing Benz Sales & Service Co., Ltd.. Facts have proved that this move has made BAIC Group gain a lot. Even though the China auto market has ended its high growth in the past two years and entered a period of adjustment, Beijing Benz is still strong.
BAIC has also completed the national industrial layout with Beijing as its base camp and Zhenjiang in the east, Chongqing in the west, Guangzhou in the south, Hebei in the north and Zhuzhou in the middle through signing contracts, acquisitions and restructuring.
In terms of capital market, BAIC 20 14 was listed in Hong Kong at the end of the year, and BAIC New Energy 2018 was listed in A shares. As a result, BAIC Group has three listed vehicle companies.
If Beijing Hyundai made Xu Heyi famous in World War I, it took more than ten years to develop BAIC into a veritable "automobile group", which is enough to prove that Xu Heyi is the head of the company.
Regret the second venture
The biggest regret of Xu Heyi's tenure is that his second venture failed to hit the high-end of his own brand. Poor finance has always been a common phenomenon of domestic independent brands. In addition to independent research and development, it is another way to seek the acquisition of overseas high-quality automobile companies. Especially after the American financial crisis broke out in 2008, European and American car companies generally encountered operational difficulties, which provided an opportunity for China car companies to merge.
At the end of 2009, Geely Automobile reached an agreement with Ford Motor Company, and Ford sold all the shares of Volvo to Geely, which is by far the most successful case in the history of China automobile industry. Like Geely, BAIC has set its sights on overseas, but chose Saab in Sweden. Also in 2009, BAIC completed the acquisition of all intellectual property rights of Swedish Saab, including three vehicle platforms, three models, two engines and two gearboxes, thus opening the high-end dream of its own brand.
In 20 10, Xu Heyi officially put forward the "second venture" in the whole group, fully developed BAIC self-owned brand passenger cars, adopted the strategy of holding high and fighting high, and directly developed mid-to high-end cars on the basis of digesting and absorbing Saab technology. On may 201March 1 1 day, the first model-sic bo was officially launched.
The strategy of "holding high and fighting high" proves that Xu Heyi's strategic vision is unique and correct. Weilai and Ideals, which are now landing in US stocks, all started from high-end cars. However, Xu Heyi still overestimated the strength of BAIC itself, especially the strength of technology research and development. Even though BAIC invested tens of billions of yuan to build an R&D base and set up a high-level R&D team of more than 1000 people, it still had little effect.
After the first car went on the market, the silicon carbide brand developed a number of models one after another, but the overall market performance was not good until it was abandoned by BAIC Group in 20 19 and a brand-new "Beijing" brand was developed.
The failure of Sic Bo made Xu Heyi realize that it is not urgent to build his own brand, so he concluded that building his own brand needs "a tight burning fire, slowly uncovering the lid".
However, BAIC did waste a good development opportunity. In the same period, the independent brands of Changan, SAIC and GAC have made great progress, while Geely, Great Wall and BYD have also made remarkable progress, while BAIC seems to have fallen behind.
Hope new energy
It has to be admitted that as the head of a large state-owned automobile enterprise, Xu Heyi has a keen market sense and advanced strategic vision, which is reflected in BAIC's initiatives in the field of new energy vehicles.
In 2009, BAIC established Beiqi New Energy Automobile Co., Ltd., which is the first new energy automobile enterprise in China to operate independently, obtain the qualification of new energy automobile production, carry out mixed ownership reform, and pilot the first batch of state-owned enterprise employee stock ownership reform. This year is the first year of new energy vehicles in China, and BAIC undoubtedly started earlier among all automobile enterprises in China.
Perhaps there is no hope of catching up with foreign capital in the field of fuel vehicles in a short time. Xu Heyi has invested a lot of energy in the new energy of BAIC, and overtaking in corners may be a way out.
In the early stage of development, BAIC New Energy really maintained a good momentum of development, with high growth in production and sales volume year after year. However, after the financial subsidy dropped sharply, it was greatly impacted. Today, BAIC New Energy does not have convincing technical strength, nor can it produce competitive high-end products.
Perhaps seeing the bottleneck of BAIC's new energy, BAIC Group once again turned its attention to the world. On April 20 18, BAIC signed a strategic cooperation agreement with Magna, the OEM emperor of the automobile industry, to build ARCFOX, a high-end brand of BAIC new energy. Today, ARCFOX's first production model has been pre-sold.
ARCFOX is another attempt by Xu Heyi to realize the high-end dream of BAIC's own brand, but the follow-up practice can only be left to his successor.
An unexpected successor
Xu Heyi's resignation was expected, and he successfully retired. Compared with Qi Yumin of Brilliance, he worked for three more years. However, three years' late retirement somewhat reflects Xu Heyi's importance to BAIC and the embarrassment of "no successor", so that his successor, Jiang Deyi, was previously the chairman of Beijing Jinyu Group and had no previous experience in the automotive field.
For the current development of automobile enterprises, airborne from outside is not an ideal choice. Today, Chen Hong, Chairman of SAIC, Zhu Huarong, Chairman of Changan Automobile, and Zeng Qinghong, Chairman of Guangzhou Automobile Group are all well-trained successors of their own enterprises, while Xu Liuping, Chairman of FAW Group, and Zhu Yanfeng, Chairman of Dongfeng Motor Group are also experienced industry veterans.
Xu Heyi shouldn't have his own considerations. At the press conference of BAIC Group's business performance in 20 17 and its development strategy in 20 18, he said frankly, "I am one-sixtieth this year, and what I think most about now is what I can leave for BAIC after retirement. If you can leave a very good talent team, this is qualified retirement. "
Xu Heyi didn't mention anything about his successor. After all, the top leaders of state-owned enterprises can only be decided by their superiors, but the implication is mostly well thought out.
In the speculation, Zheng Gang, then general manager of BAIC New Energy, was widely regarded as a candidate. 20 17 was elected as the Standing Committee of the Party Committee of BAIC Group and entered the leadership team of BAIC Group. One of the reasons why Zheng Gang is optimistic is its age advantage. The future reform and development of BAIC Group really needs young and promising people.
However, in 20 19, Zheng Gang suddenly resigned from all posts of BAIC Group and BAIC New Energy for personal reasons, which surprised the outside world. After Zheng Gang left office, the outside world has realized that Xu Heyi's successor is likely to be "airborne" from the outside, not from within BAIC.
Today, the airborne soldier Jiang Deyi has taken office, and the situation he faces, Xu Heyi once described: "
In the past decade, China's automobile industry has been smooth sailing, and the next decade can be said to be sailing against the current, with very arduous challenges and fierce competition. "
Xu Heyi is not alarmist. The once-in-a-century great changes in the automobile industry are forcing all traditional automobile enterprises to accelerate transformation and upgrading. For example, BAIC is still a large group that mainly relies on joint venture brands to make money. If you can't keep up with the times, it's easy to slowly uncover the pot.
The end of one era marks the beginning of another. Who is the leader of the new era?
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.