CBN reporter contacted Yulon Group. Zhang Jiafen, a staff member of the general management office of the company, said that in the future, Yulon Group will operate according to the established direction and track under the leadership of Yan Kaitai's widow and CEO Chen Lilian. At the same time, Zhang Jiafen also emphasized that the operations of the group and its companies will not be affected in any way and will maintain normal and stable operations. The death of Yan Kaitai did not have much impact on the stock price of Yulon Group. On the 4th of this month, the final price per share of Yulon Group was NT$20, an increase of 9.81% compared with the final price of the previous trading day.
According to public information, Yan Kaitai is the "father of Taiwan's automobile industry" and the adopted son of Yan Qingling, the founder of Yulon Group. He was born in Taipei, Taiwan. Honorary Doctorate of Commerce from John University.
In 1989, Yan Kaitai inherited the will of his adoptive father, returned to Taiwan from the United States, and began to take over the actual operation of Yulon Motors .
After that, Yan Kaitai gradually expanded the Yulon Group from a single automobile enterprise to a diversified one, and gradually developed it into an automobile business centered on Yulon, Yuri Automobile, and Zhonghua Automobile, covering auto parts companies Yurong Enterprises, Relevant distributor system, component business and mainland investment business, textile, real estate development and other multi-directional comprehensive large-scale enterprise groups, now the group's annual turnover exceeds NT$300 billion, and its total assets are nearly NT$400 billion.
Especially in the automotive industry, Yan Kaitai has gradually been recognized by the industry from being a "prodigal son" who was questioned by the outside world through the sales of the "million-dollar model" Cefiro. On July 13, 2007, he took over the chairmanship of Yulong Group.
In 2011, Yan Kaitai single-handedly promoted Yulon Motors to enter the mainland and established a joint venture company Dongfeng Yulon . Yulon Motors and Dongfeng Motors each held 50% of the shares. This also became the first large-scale economic cooperation under the Economic Cooperation Framework Agreement between the two sides of the Taiwan Strait At the same time, Yan Kaitai also established his own brand Luzhijie in mainland China, and in the case of sluggish sales in mainland China and being questioned, he firmly stated in an interview that "Luzhijie is equal to my life and it is impossible to quit".
According to statistics from the Passenger Association, the sales volume of Luxgen's entire series in 2017 was only 17,500, a year-on-year decrease of 56.74%, and the sales volume has declined for three consecutive years. In recent years, Yan Kaitai is still very optimistic about the mainland auto market despite the pressure of transformation in the mainland auto market. Release at least 10 new models.
In this regard, Taiwan Yuanta Securities analyst Huang Shufen told the first financial reporter that Yan Kaitai's death has limited impact on the company's future performance.
Huang Shufen pointed out that on the one hand, Yan Kaitai had a record of suffering from esophageal cancer, and at the same time, he has frequently absent from public events since the auto show. There have been rumors about Yan Kaitai’s health in the market; at the same time, Yan Kaitai has gradually faded out of important decision-making, and has transferred the management positions of many subsidiaries. With the assistance of Vice Chairman Chen Guorong, it can be seen that the market and management personnel have been prepared for this moment, and the Taiwan stock index has risen significantly, so the impact on the market will be extremely limited.
However, at the same time, she said that Yulon’s stock price has been in a relatively low range, and people from all walks of life had expected a rebound in the stock price, but Yan Kaitai’s death will still have a certain impact; what will happen to Yulon in the future will also depend on the new executives Whether it can be successfully succeeded, and Yulong's performance in the mainland market.
In June last year, Dongfeng Motor Corporation announced that it would withdraw employees but not withdraw capital. It only participated in the operation as an investor of Dongfeng Yulon and withdrew from the management team. Internal management and decision-making in Dongfeng Yulon will rely more on professional managers. Huang Shufen said that Dongfeng Motor Corporation chose to withdraw at the time of Dongfeng Yulon's downturn, which to a certain extent undermined investors' confidence in Dongfeng Yulon and even Yulon Group. Investors still hope to see Yulon have a good market performance.
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