schreef:
Another thought i have is that, whether Saab could live as long as the chinese governemnt approves the deal. Accoriding to my knowledge, pangda and youngman has not submitted their plan to NDRC yet. In China, those JV application should be submitted by Youngman,who has the qualification to produce cars, not Pangda, a dealer. Also the submission should go through government agencies level by level. Youngman should submit it first to provincial level DRC at its home province. However, zhejiang-based Youngman and Zhejiang Provincial DRC are still debating on the overseas investment in Saab. Youngman itself doesn’t have so much money and it has to rely on the investment from Zhejiang provincial government. therefore zhejiang government is very cautious about such an investment, especially when Saab is facing the risk of bankruptcy. That’s why Yongman has not submitted it plan yet. For Pangda, a newly-public listed company, is now also in a scandal of fake publicitiy for its IPO. Its H1 net profit is only 400 million yuan, or about 62 million dollars, sharp down 36 % year-on-year.