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Investment Cases of JIC

Pioneering Mixed Ownership in 30 Months

The beginning

Being the major force driving the nation’s economic take-off, China’s state-owned enterprises have been a significant part of its economic landscape. Since the 18th CPC national congress, the answer to how SOE reform, roadmap and action plan are directed has become clear. Additionally, a new series of reform measures that focus on ownership transformation, state-owned capital operation, category-based guidance and marketization in competitive industries will be launched to revitalize state-owned enterprises, improve their core competence and provide new momentum for the Chinese economy. 

China Anhui Jianghuai Automobile Co. Ltd. (JAC) was originally founded in the 1960s as an automobile manufacturer. The company’s proprietary bus chassis was the first of its kind in China. After decades of expansion, JAC now has two publicly traded companies, i.e. JAC Motors and Ankai Automobile, as well as a dozen subsidiaries including Anhui Jianghuai Special Purpose Vehicle Co. Ltd. and Hefei Automobile Axis Co. Ltd.. Nonetheless, this reform will help the old state-owned enterprise optimize its operating mechanism and facilitate the shift in its growth model, thereby laying a solid ground for the company to become more international, market-oriented and modernized. 

Investment Cases of JIC

JIC’s role

Dec 2012 – A strategic partnership was signed in Beijing by and between JIC Investment and SASAC Anhui.

Sep 2013 – JIC Investment became a JAC shareholder after capital injection, marking a milestone in JAC’s initial ownership reform efforts.

July 2014 – JAC Motors announced a restructuring plan about listing the entire group after a proposed merger.

Dec 2014 – JAC Motors’ plan for stock-for-stock merger, related party transaction and major asset restructuring was approved by the CSRC Committee for the Examination of Merger, Acquisition and Restructuring of Listed Companies. 

Apr 2015 – JAC Motors announced stock-swap merger of JAC and changes in shareholding, thereby marking the completion of JAC’s listing. 

In an industrial ecosystem comprising of car assembly, core components, equipment and industrial supplies, JIC Investment has invested in these companies, and consequently enjoying a leading position in their sectors such as JAC Motors, Shengrui Transmission, LOPAL and Pacoma etc. In addition, the company leverages its access to resources with an aim of bolstering the synergies of its investments while working with the investee companies to share reform dividend and further explore opportunities emerging in industry restructuring.

"Our mission is to support Chinese brands, innovations and proprietary technologies. We want to work with Chinese companies who display courage and vision in China`s structural shift to advancing manufacturing, with JAC being one of these companies."

--Ke Ke, President of JIC Investment

"The true value of investment lies with the interactive process in which we work with investee companies to grow stronger and promote national industry development."

--Ke Ke, President of JIC Investment

Being the first SOE reform demonstration project launched in Anhui, JAC’s ownership transformation & public listing plan was completed in less than two years. Within less than three years, the company got publicly listed, thereby leading the way in Anhui and even in China. After its public listing, JAC became a publicly traded company enabling it to enjoy the “longest” industry chain as well as the widest range of car models in the automotive industry. An integrated platform for business and capital operations as well as the combination of the technical know-how with car assembly and car components will help the company create a comprehensive ecosystem and expand globally. In 2015, JAC Motors sold 588,052 cars, a rise of 31.61% from the previous year.

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Homepage » Investment » Story details » Investment Case-JAC Moter