Weifu Hi-Tech: At present, it has cooperated closely with many strategic partners and customers such as Bosch in Germany

Jiwei network news, on January 24, Weifu Hi-Tech said in the record of investor relations activities released that Weifu Hi-Tech is mainly committed to the construction of medium- and long-term large-scale commercialization value of hydrogen fuel cell core components business, and has now cooperated closely with strategic partners such as Bosch, Shanghai Remodeling, Beijing Hydrogen Pu Chuangneng and other strategic partners in Germany and a number of strategic customers and major customers at home and abroad, and has obtained a number of development projects and supply orders at home and abroad, and the related business is progressing smoothly.

For the impact of hydrogen energy demonstration city cluster on Weifu Hi-Tech, Weifu Hi-Tech said that at present, fuel cell vehicles mainly support the application of the whole vehicle with the award substitution policy, and the subsidy for the key core zero is relatively small. Weifu Hi-Tech is mainly committed to the core components of hydrogen fuel cells, so it is less affected by the hydrogen energy demonstration city cluster.

In addition, with the establishment of the hydrogen energy division, Weifu Hi-Tech will formally establish a hydrogen fuel cell parts business joint venture with IRD, Borit, Bosch and other partners in Wuxi during the year, relying on the Weifu Hi-Tech Group Operation Platform, adopting a multi-brand asset-light operation model, independently and uniformly facing the Chinese market, and carrying out the application development, supply chain, manufacturing, sales and service of hydrogen fuel cell parts and components products.

Weifu Hi-Tech said that this joint venture model was established through in-depth research and combined with the successful experience of many multinational companies, which will help deepen the cooperative relationship between Weifu Hi-Tech and overseas subsidiaries and strategic partners. At the same time, Weifu Hi-Tech's hydrogen fuel cell business is a global layout, and it has established a strategic communication and collaboration platform with two overseas wholly-owned subsidiaries, IRD and Borit, before the recent announcement.

In recent years, in line with the development trend of "new four modernizations" of automobiles, Weifu Hi-Tech is mainly involved in other key components business areas such as "green hydrogen energy", "intelligent electric", hydraulic core components/systems, etc.

At present, the main shareholding companies of Weifu Hi-Tech are: Bosch Powertrain Co., Ltd. (hereinafter referred to as "RBCD", the company holds 34% of the consolidated shares), Zoomlion Automotive Electronics Co., Ltd. (hereinafter referred to as "Zoomlion Electronics", the company holds 20% of the shares), Wuxi Weifu Environmental Protection Catalyst Co., Ltd. (hereinafter referred to as "Weifu Environmental Protection", the company indirectly holds 49%) and so on. They all belong to the strategic customers or strategic suppliers of the upstream and downstream of the main business industry chain formed by Weifu Hi-Tech's strategic development for many years, and have further become close strategic partners. (Proofreading/Andy)