Lixun Precision acquired chery's equity by 10 billion yuan, and the two cooperated to engage in the new energy vehicle business

Lixun Precision announced that it signed the Strategic Cooperation Framework Agreement with Chery Holding Group Co., Ltd. ("Chery Holdings"), Chery Automobile Co., Ltd. (hereinafter referred to as "Chery Shares"), Chery New Energy Automobile Co., Ltd. ("Chery New Energy") ("Chery Holdings", "Chery Shares", "Chery New Energy" and its affiliates collectively referred to as "Chery Group") in Wuhu to lay a strategic partnership for both parties.

At the same time, Lixun Precision's controlling shareholder, Lixun Limited, intends to purchase 19.88% of the equity of Chery Holdings, 7.87% of the equity of Chery and 6.24% of the equity of Chery New Energy held by Qingdao Wudaokou for 10.054 billion yuan.

Lixun Precision said that the company and Chery Holdings and its affiliates jointly signed a strategic cooperation framework agreement, aiming to strengthen the strategic layout of the company's automotive business in an all-round way. With the support of the vehicle joint venture platform as the forefront of R&D and design, mass production platform and haikou, the company will dynamically enter the bureau and rapidly improve the company's core component comprehensive capabilities as a Tier1 manufacturer, and achieve the medium- and long-term goal of becoming a Tier1 leading manufacturer.

The cooperative subsidiary intends to adopt an equity structure of: Luxun Precision subscribes 500 million yuan to hold 30% of the registered capital, Chery New Energy subscribes 1.167 billion yuan and holds 70% of the registered capital, and the subscription price for each 1 yuan of registered capital is 1 yuan. After the establishment of the cooperative subsidiary, under the premise of meeting the legal compliance, the cooperative business will be carried out and the results will be achieved as soon as possible. According to the needs of customers and business development, Chery Group can cooperate directly or set up a separate subsidiary to cooperate.