After the failure of the plan to introduce Tiansheng Bearings, Xiangyang Bearing may usher in the "new club" Sanhuan Group. On April 29, Xiangyang Bearing took over the actual controller Xiangfan City SASAC informed the Shenyang Yang Bearing major reorganization.

Equity exchange for two years of investment of 300 million yuan

On April 16, 2009, Hubei State-owned Assets Supervision and Administration Commission, Xiangfan City People's Government, Sanhuan Group Corporation and Shenyang Automotive Bearing Group Co., Ltd. jointly signed the “Reformation Agreement between Sanhuan Group Corporation and Shenyang Automotive Bearing Group Corporation”.

The agreement stipulated that: Xiangfan City People's Government agreed that Xiangfan City SASAC will transfer the 95% equity of Axis Group held by it to Sanhuan Group; Sanhuan Group's investment in Yanzhou Group should be no less than RMB 3 in the next two years Billion yuan, otherwise the reorganization agreement is terminated. The above agreement must still be approved by the Hubei Provincial People's Government and the State Council's SASAC to take effect.

Analysts pointed out that the acquisition of Shenyang Bearing by Sanhuan Group unveiled the prelude of the large-scale reorganization of state-owned enterprises by E-enterprises this year.

Under the stimulation of this good news, Xiangfan Bearing opened its daily limit on April 29th, and shares of Sanhuan also gained 4.7%.

The largest domestic automotive bearing company

Fuyang Bearing is the largest manufacturer of automotive bearings in China and one of the five largest bases for bearing exports in China. The company has obvious technical advantages. It has an automotive bearing research institute specializing in research and design of automotive bearings and a national automotive bearing technology center. The company obtained ISO9001 quality certification from FMRC, USA, and its core competitiveness is outstanding.

At present, the company's "ZXY" axis bearings can be designed for users in addition to the entire vehicle supply Dongfeng, Jiefang, Jianghuai, Beijing, Nanjing, Chang'an and "Isuzu" N series models and other types of vehicles, tractors and machinery maintenance, Manufacturing special-purpose bearings and parts.

As the price of steel continues to fall, it will bring considerable help to the company in achieving effective cost control. On February 19 of this year, Sunyang Bearing was identified as the first batch of high-tech enterprises in Hubei Province in 2008. It is valid for 3 years and will enjoy preferential policies levied on income tax at a rate of 15%.

Integrate Hubei auto parts industry

It is understood that Sanhuan Group is a provincial-level large-scale enterprise under the management of the Hubei State-owned Assets Supervision and Administration Commission with total assets of 8 billion yuan. It is mainly engaged in the production and operation of special-purpose automobiles, auto parts, forging presses, electronic products and information systems, and a subsidiary company The shares are listed in Shenzhen and are the leading enterprises in the Hubei machinery and automobile industry. They are also the largest special-purpose automobile and auto parts production enterprises and the largest brand automobile dealers in the province.

At present, the company has more than 20 wholly-owned and holding subsidiaries, located in the province of Wuhan, Shiyan, Xiangfan and other places, the company has a number of patented technologies and products.

According to stakeholders of the Sanhuan Group, the core industries in the Group's several major industrial sectors are auto parts, and Xiangyang Bearing has strong forces in various types of automotive parts such as bearings. If the reorganization is successful, industrial restructuring can achieve strong alliances. It will facilitate the consolidation and increase the scale effect of Hubei auto parts industry. “But due to the restructuring of the two listed companies, it still needs to be further confirmed in the province. It is not yet certain that all will be finalized, and it is not convenient to reorganize the specific plans.” The person admitted frankly.