CECGT to co-found new energy investment corporation with RMB125 million
2017-11-20 17:28:28 [Print]
CECGT announced on the evening of November 17th that the company will sign investment agreement with China Shipbuilding Industry Group Power Co., Ltd. (“China Shipbuilding Industry Group Power”), Qingkong Tongheng New Energy Technology (Gu’an) Co., Ltd. (“Qingkong Tongheng”), Ehi Fund to co-found Tehengtong New Energy Investment Co., Ltd. in Xiongan New Area. The joint venture company owns registered capital of RMB500 million, CECGT will invest RMB125 million in cash and hold 25% of its equity; China Shipbuilding Industry Group Power, Qingkong Tongheng and Ehi Fund will invest RMB125 million, RMB175 million and RMB75 million respectively and hold 25%, 35% and 15% of the equity. CECGT will expand its business in related field of automobile electronics by cooperating with new energy vehicle enterprises, therefore enhancing the overall profitability.
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