On December 13, Lifan Technology announced that it intends to establish a joint venture with Geely Automobile Holdings Co., Ltd. (hereinafter referred to as "Geely Automobile") in the directly administered area of Liangjiang New District, Chongqing, which will integrate the resources of both parties and jointly build cars.
Each invested 300 million yuan to jointly build a car
According to the plan, the business scope of the target company is the design, research and development, and sales of the whole vehicle (including accessories, parts processing equipment, automotive decoration); the import and export of goods, the import and export of agents, the import and export of technology; software development; technology development, technical services, technical advice, and technology transfer.
The registered capital of the target company is RMB 600 million, of which Lifan Technology contributes RMB300 million in the form of monetary funds, with a shareholding ratio of 50%, and Geely Automobile contributes RMB300 million in the form of monetary funds, with a shareholding ratio of 50%. The announcement also clarified that "upon mutual agreement between the two parties, the two sides may designate a separate entity to make capital contributions." ”
The announcement also shows that Chongqing Jianghehui Enterprise Management Co., Ltd., a shareholder holding more than 5% of the company's shares, is the same actual controller as Geely Automobile, and Mr. Yang Jian, a director of the company, is an executive director of Geely Automobile, and according to the provisions of the Rules for the Listing of Shares on the Shanghai Stock Exchange, the Measures for the Administration of Material Asset Restructuring of Listed Companies and relevant laws and regulations, the investment constitutes a related party transaction, but does not constitute a major asset restructuring.
The announcement also clarified that the target company has a board of directors with 6 members, of which Lifan Technology has the right to appoint 3 directors and Geely Automobile has the right to appoint 3 directors. Directors are elected for a term of 3 years and may be re-elected upon expiry of their term. The target company has a supervisory board composed of 3 supervisors, of which 1 is each appointed by Lifan Technology and Geely Automobile, and the other is a supervisor of employee representatives. The term of office of the supervisors is 3 years, calculated from the date of adoption of the resolution of the shareholders' meeting. The general manager, deputy general manager, financial person in charge and other senior management personnel of the target company are nominated by Lifan Science and Technology and appointed by the board of directors of the target company.
New energy models have resumed production Lifan Technology is gradually on the right track
On January 26, Lifan Technology (Group) Co., Ltd. was unveiled and introduced the first new model of Geely Technology Group. This also means that the reorganization of the first listed automobile and motorcycle enterprise in China has come to an end, and the industrial transformation after the reorganization of Lifan has entered a substantive stage.
At that time, Xu Zhihao, director of Geely Holding Group, CEO of Geely Technology Group and chairman of Lifan Co., Ltd., said in his speech: "Chongqing's industrial policy, business environment and location advantages have created a good external environment for Geely Technology Group to participate in the restructuring of Lifan and the future development of Lifan. Relying on the brand and technical advantages of Geely Technology Group, Lifan will promote the scientific and technological transformation of Lifan through brand building and post-sales management upgrades, intelligent transformation of production lines, cooperation in research and development of follow-up models, etc., to help China's two-way integration of automobiles and energy, and cross-border integration of automobiles and transportation. ”
After a lapse of four months, on May 18, Lifan Technology's first new power-changing model was officially mass-produced at the Caijia production base in Chongqing. At the scene of the new car launch ceremony, Lifan Technology also reached strategic cooperation with Cao Cao Travel, Easy Internet Technology, and four major customers from Chengdu, Guangzhou, Chongqing and Tianjin, and reached the purchase intention of the replacement model. The mass production of the new power supply model marks that Lifan Technology's automobile business is gradually recovering and entering a new development track.
On September 22, the first batch of 100 Lifan Maple Leaf 80V replacement taxis were officially delivered for operation. On December 9, Lifan Technology (601777.SH) released the November production and sales express: the company's new energy vehicle production in November 2021 was 1510 units, an increase of 941.38% year-on-year; Sales of new energy vehicles were 1140 units, an increase of 917.86% year-on-year. So far, the production and sales of new energy vehicles in Lifan Technology have achieved "doubling" for 3 consecutive months. This is also regarded by many industry insiders as a signal that Lifan Technology is gradually on the right track.
The two sides or force a new high-end new energy vehicle Lifan Technology "Phoenix Nirvana"?
However, although Lifan Technology completed the restructuring in early 2021, although it belongs to Geely, the leading party is actually Geely Technology Group, not Geely Automobile, which signed the contract.
For the joint venture to form a new company, industry insiders said that this is a new beginning for the two sides to develop intelligent networked vehicles and new energy vehicle brands, whether it is cooperation space and strength, it is incomparable to the previous cooperation.
The person said that Geely Holding Group is the leader of the automotive industry, and it has great advantages in new energy and intelligent interconnection of vehicles. Lifan Technology is mainly focused on new energy replacement vehicles. In addition, Chongqing is one of the pilot cities for the application of new energy vehicle power exchange mode. Lifan Technology is not unexpected, will achieve "lying win".
The person said that a few days ago, Geely Technology Group signed cooperation agreements with Chongqing Liangjiang New Area and Fuling District. The first is to set up the Western Headquarters of Geely Technology Group in Liangjiang New Area, and set up an innovation research institute and an integrated platform for production, education and research at the same time to incubate high-quality industries in the upstream and downstream of the industrial chain. Second, in Fuling District, investment will be made in the construction of 12GWh power battery projects. Up to now, Geely Holding Group has laid out high-end new energy vehicles, industrial Internet headquarters, Saxo Finance and other projects in Liangjiang New Area, and will seize the commanding heights of technology by integrating global resources, gathering upstream and downstream industries, and creating a scientific and technological innovation system with deep integration of production, education and research.
Geely has laid out a complete industrial chain in Chongqing, and Lifan Technology, as a deep partner of Geely and Geely Technology, has no doubt that it will "get the moon first near the water".
Upstream journalist Yan Wei
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