On April 8, GAC Capital signed a strategic cooperation agreement with Yuexiu Industry Fund. In the future, GAC Capital and Yuexiu Industry Fund will integrate their respective technology, capital and industry advantages, rely on the industrial base and resource advantages built by both parties and their respective groups in the Guangdong-Hong Kong-Macao Greater Bay Area over the years, and carry out investment layout around the new energy and intelligent networked vehicle industry chain.
Zeng Qinghong, Secretary of the Party Committee and Chairman of THE BOARD of GAC Group, and Zhang Zhaoxing, Secretary of the Party Committee and Chairman of yuexiu Group, attended the event and delivered speeches.
Zeng Qinghong said that GUANGZHOU AUTOMOBILE Group and Yuexiu Group belong to the first-class municipal state-owned enterprises under the Guangzhou Municipal State-owned Assets Supervision and Administration Commission, with strong strength, revenue and asset scale are in a leading position, and the two sides have cooperated in many fields in the past. GAC Group continued to promote the investment layout of the industrial chain through the fund set up by GAC Capital, driving the transformation and upgrading of Guangzhou's automobile manufacturing industry. In the future, the two sides will jointly invest in and cultivate innovative, high-profit, high-value-added upstream and downstream high-quality enterprises in the automotive industry chain, help Guangzhou improve the level of independent and controllable development of the intelligent and new energy automobile industry chain, and jointly promote the high-quality development of the automotive industry.
Zhang Zhaoxing said that the strategic cooperation between Yuexiu Industrial Fund and GAC Capital is an inevitable choice for Yuexiu and GAC to exert their respective strengths and create a good industrial ecology in the automobile industry, and it is also a practical measure for the two municipal leading state-owned enterprises to play the "public transfer" effect and serve the development of Guangzhou's intelligent and new energy automobile industry. It is hoped that the two sides will continue to carry out business synergy on the basis of good cooperation in the past, realize resource sharing and platform interaction, and add new impetus to the development of their respective enterprises and the economic and social development of Guangzhou.
At present, Guangzhou has built an automobile innovation industry system with vehicle manufacturing as the core, parts and components enterprises gathering, and intelligent innovation enterprises converging. According to incomplete statistics, Guangzhou has nearly 20 vehicle manufacturing enterprises and more than 500 key auto parts enterprises, forming three major automobile industry clusters in the east, south and north, with an output value of more than 100 billion yuan, and great investment potential in the field of new energy and intelligent networked automobile industry chain.
Previously, GAC Capital and Yuexiu Industry Fund have cooperated at the level of funds and projects, and jointly invested in and empowered a number of projects, including Yuexin Semiconductor, Jingwei Hengrun, Hongsoft Technology, Huayou New Energy, Gatland, etc., covering many links in the intelligent networked vehicle industry chain such as wafer manufacturing, Internet of Vehicles, vision algorithms, and millimeter wave radar. With the investment empowerment of both parties, a number of projects have achieved rapid growth.