The joint venture scheme was approved. Keliyuan further cooperation with Yunnei

China National Energy-saving and New Energy Automobile Key Component Supplier - Hunan Keliyuan New Energy Co., Ltd. (SH.600478) announced recently that its China Hybrid Powertrain System Technology Platform (hereinafter referred to as "CHS Company") and China The Yunnan Yunnei Power Group, a leading diesel engine company, signed an agreement to establish a joint venture plan, which has been approved by the Kunming State-owned Assets Supervision and Administration Commission. This means that the establishment of a joint venture will enter into substantive operations.
Yunnei Power and Hunan Keliyuan New Energy Co., Ltd. Joint Venture Yunnei Power and Hunan Keliyuan New Energy Co., Ltd. Joint Venture

According to the content of the approved agreement, CHS and Yunnei Power cooperated to establish Wuxi Tongrun Hybrid Power Technology Co., Ltd. (tentatively, final registration for industry and commerce), with a registered capital of 600 million yuan, of which: 51% held by Yunnei CHS holds 49% of the shares.

The areas of cooperation between the two parties will focus on diesel-powered hybrid hybrid systems. By developing the HT3800 and promoting the application of the HT1800 and HT2800 systems in the diesel engine field, the products are applicable to light trucks, MPVs, pickup trucks, SUVs, light passenger vehicles, micro-cards, and Chinese-Pakistan models. This area is regarded as a major blue ocean in the energy-saving and new energy automotive market.

According to the "Announcement on the Implementation of Phase V Motor Vehicle Emission Standards" of the Ministry of Industry and Information Technology, all diesel heavy trucks must comply with the requirements of the National Five Standards as of July 1, 2017, and all diesel engine light trucks must comply with the National Five Standards as of January 1, 2018. Claim.

The long-term concern of a fund manager of Keliyuan Company analyzed that with the implementation of the new phase of the fuel limit, most of the domestic brands have a huge pressure on fuel consumption, and Yunnei has obvious technical advantages in terms of diesel engine and the same displacement. The obvious fuel-saving effect of diesel engines over gasoline engines, coupled with the strong mixing technology of CHS output, will have significant fuel-saving effects, which will greatly enhance the market competitiveness of its own, especially high-end products.

Ke Liyuan stated that the signing of the joint venture agreement is in line with the strategic development direction of the company and encourages the cooperative parties to establish a win-win strategic partnership based on complementary advantages, mutual benefits and common development, which is conducive to effective integration of resources between the two sides, and energy saving and new The energy automotive sector, especially diesel/gas engines, has extensive product cooperation and marketing.

At the same time, after the approval of the SASAC of Kunming City, the establishment of the joint venture will accelerate. CHS also pointed out in the previous announcement that it will sign the “Contract Development Contract” and the “Technical License Agreement” with the newly established joint venture company in accordance with the agreed principles of the agreement. With the implementation of the above agreement, Keliyuan expects to increase revenue by 60 million to 80 million yuan.

It is worth noting that both parties also agreed to implement effective incentives for the project's R&D team in the previous announcement. CHS intends to prioritize the transfer of no more than 10% of the initial paid-in capital contribution (150 million yuan) to the project R&D team (specific plan CHS The company will draft it separately.) Yunnei agreed to support CHS and implement the incentive plan according to the relevant approval process. If the company's future listing or mergers and acquisitions and other issues occur, both parties agree that the equity held by the R&D team has the right to opt out. The analysis believes that this mechanism innovation is expected to mobilize the enthusiasm of the team to the greatest extent and accelerate the technology research and development and listing cycle.

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