On September 6th, according to the Beijing Equity Exchange, FAW Bestune Automobile Co., Ltd. (hereinafter referred to as “FAW Bestune”) completed its capital increase project on September 5th. Among the investors, Jiangsu Yueda Automotive Group Co., Ltd. invested 1.71 billion RMB, Agricultural Bank of China’s investment platform, Nongyin Financial Asset Investment Co., Ltd., China Telecom Corporation, and Nanjing Horizon Information Technology Co., Ltd. invested 1 billion RMB, 500 million RMB, and 100 million RMB, respectively. The controlling shareholder, China FAW Group Co., Ltd. (FAW Group), also increased its investment by 5.24 billion RMB. As a result, FAW Bestune raised a total of 8.55 billion RMB. The official statement said, “The diverse backgrounds of the investors bring ‘ecological self-sustaining’ capability, which is the deeper strategic significance of this capital increase.”
After the capital increase, China FAW, through FAW Group and FAW Equity Investment (Tianjin) Co., Ltd., holds 79.0394% of FAW Bestune’s shares, remaining the largest shareholder. Jiangsu Yueda holds about 10% of the shares, becoming the second-largest shareholder. Yueda Automotive Group stated, “The 1.71 billion RMB investment not only demonstrates strong confidence in FAW Bestune’s transition to new energy but also injects strong momentum into the high-quality development of the Yancheng automotive industry.” Earlier, in 2023, Yueda Automotive Group became FAW Bestune’s first external shareholder with a strategic investment of 166 million RMB. Following this capital increase, Yueda has risen to become the second-largest shareholder, marking a new stage of deep collaboration and resource integration between Yueda and China FAW, and is another important milestone in their cooperation.
In September 2023, FAW Bestune completed a capital increase through the Beijing Stock Exchange, raising its registered capital from 6.028 billion RMB to 8.425 billion RMB. After the capital increase, the shareholding percentages of China FAW, FAW Equity Investment (Tianjin) Co., Ltd., and Jiangsu Yueda Automotive Group Co., Ltd. were 86.1568%, 11.8691%, and 1.9741%, respectively. The raised funds will primarily be used for the R&D, production, and market promotion of FAW Bestune’s new energy products, accelerating the transition to new energy. At that time, FAW Bestune stated that the introduction of external capital was a new exploration and attempt, and in the future, the company would leverage this to expand its channels eastward and southward, filling market gaps and seizing market development opportunities.
Regarding the amount raised in this round of fundraising, the official statement indicated that the funds will mainly be used for R&D of new energy technologies, upgrades in intelligent manufacturing, and building an ecosystem for channels, thus fully empowering the implementation of key strategic initiatives. With this capital increase and the introduction of strategic investors, FAW Bestune, which is in the strategic investment phase of its new energy transition, will adopt a more market-driven mechanism, stronger technological capabilities, and a more comprehensive product matrix. At the same time, FAW Bestune will work with strategic investors to innovate cooperation mechanisms, lay the foundation for high-quality development, and build a more open and dynamic “New Bestune,” contributing to the creation of a world-class enterprise for China FAW.
FAW Bestune, founded in May 2006, is an automotive brand under China FAW Group. In May 2021, FAW Bestune released a new brand strategy and fully upgraded its logo to create a new Bestune brand identity. Currently, FAW Bestune’s lineup includes models such as Bestune Xiaoma, Bestune B70, Bestune NAT, Bestune T90, Bestune T77, Bestune M9, Yueyi 03, and Yueyi 07. Retail data shows that in the first seven months of this year, FAW Bestune’s top-selling model was the Bestune Xiaoma, with 55,700 units sold; the Bestune B70 and Yueyi 03 also reached the 10,000-unit level, with sales of 12,400 units and 10,900 units, respectively.
According to the latest official data, in the first eight months of this year, FAW Bestune’s cumulative sales reached 118,000 units, a year-on-year increase of 47.5%. Of these, 101,000 were new energy vehicles, reflecting a year-on-year increase of 233.9%. For reference, in 2024, FAW Bestune’s total vehicle sales reached 151,000 units, the highest level in ten years, with new energy vehicle sales reaching 83,000 units, a year-on-year increase of 214%.
