On the occasion of the second anniversary of the establishment of Beijing Hyundai Plant, Beijing Automotive Investment announced that Beiqi Investment is actively preparing for listing and is expected to implement the listing plan next year. Relevant persons of Beijing Hyundai also stated that the construction of the second Hyundai factory in Beijing requires a lot of funds. Only the listing can raise sufficient funds at the fastest speed in the shortest time. The Chinese side added capital to follow up Beijing Hyundai Chairman Xu Heyi revealed on the 19th that Beijing Automotive Investment Co., Ltd. is currently actively planning and preparing for listing. Xu Heyi made it clear that the purpose of listing is to raise funds for the construction of the second factory. Beijing Hyundai's first plant is expected to be completed in June next year. It will begin the construction of the second factory, which will require about RMB 12 billion in funds. In addition to the respective capital contributions of China and South Korea, the large sum of money raised has to rely on the company’s listing to a large extent. Previously, the "Wall Street Journal" had published news that Hyundai Motor's joint venture would invest $600 million to expand its business in Beijing. Hyundai Motor Co., the top car maker in South Korea, said on September 9 that it will invest 600 million U.S. dollars in its Chinese joint venture Beijing Hyundai Motor Co., Ltd. to increase its production capacity to 600,000 vehicles. In this regard, Guo Qian, the general manager of Beijing Hyundai, did not deny that he would certainly follow up if Hyundai’s Hyundai investment increased by several hundred million US dollars. As for the source of funds, Guo Qian’s argument comes from shareholders and profits. He believes that the current profitability of Beijing Hyundai is sufficient to cope with the additional investment of South Korea's modernization, but industry insiders are skeptical of this claim. The 600 million U.S. dollars from South Korea will surely impose certain financial pressure on Beijing Hyundai, and listing may be the only choice. Intensified planning and listing Beijing Hyundai Motor Co., Ltd. was established on October 16, 2002. In just two years, its production scale and market influence have changed. As early as August of this year, Xu Heyi revealed for the first time that Beiqi Investment, which is owned by Beijing Hyundai, is actively planning a listing plan and is striving for a public listing in September. At that time, some professionals believed that according to the provisions of listed companies, Beijing Hyundai would have at least 3 consecutive years of profitable performance if it was listed on the domestic A-share market. However, Beijing Hyundai Development spent only two years, but A-share listing is unlikely. The extremely rapid development of Beijing’s modernization requires the cooperation of corresponding funds. It is reported that Beijing Hyundai has already reached a production capacity of 150,000 vehicles, and will reach 300,000 next June. The construction of the second plant will be started when the goal of Hyundai's modernization is from 2008 to 2010. Beijing Hyundai will reach 500,000 to 60. Million of capacity. A major official of Beijing Hyundai told reporters that the production capacity of 300,000 vehicles has reached the limit. He himself expressed doubts about the continued expansion of production scale. Extending the product line in an all-round way Dong Jianping, Deputy Minister of Purchasing at Beijing Hyundai, revealed to reporters that December 23 is the day when Beijing’s Hyundai pushes new cars, and it is expected that the new car will win its best. This 2.7L displacement SUV is the third model produced by Beijing Hyundai. Although Xu and Yi expressed clear concerns about the competitive relationship between this upcoming new car and Orland, the new car will still be listed on schedule. Dong Jianping also said that the production of this new car is estimated to be controlled at about 30,000 vehicles, the main purpose is to improve Beijing's modern product chain. Only product enrichment can increase the scale of production as a whole. According to Cui Chengqi, senior manager of the Korean headquarters, Beijing Hyundai will have six models to cope with the market by 2008. The coverage rate of the model is 90% of the entire automobile model, and the remaining three domestic cars will not choose any A model that has been put into production in South Korea. In other words, the production of new cars in China and South Korea will be synchronized, indicating that South Korea is paying more and more attention to the Chinese market. (Reporter Chen Wenjia)
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