Today, China International Marine Containers (Group) Co., Ltd. announced that its subsidiaries, CIMC Vehicles (Group) Co., Ltd. (hereinafter referred to as "CIMC Vehicles") and Wuhu Tairui Investment Co., Ltd. (hereinafter referred to as " Terry Investment") and Shenzhen Jiusi Investment Co., Ltd. (hereinafter referred to as "Jius Investment") signed the sponsor agreement in Shenzhen on January 9, 2009, and the investment was initiated to establish Jirui Union Truck Co., Ltd. (English The name is C&C Truck Co., Ltd. hereinafter referred to as "co-truck").
Tairui Investment mainly invests in non-financial industries such as automobiles and its parts and components; the registered capital of the company is RMB 550 million, and its registered place is in Wuhu Economic and Technological Development Zone. The legal representative is Yin Tongyue, Chairman of Chery Automobile. It is understood that the three shareholders of Wuhu Tairui Investment Co., Ltd. are: Wuhu Construction Investment Co., Ltd., Wuhu Ruichuang Investment Co., Ltd., and Wuhu Economic and Technological Development Zone Construction Corporation. They are also shareholders of Chery Automobile Co., Ltd. The industry believes that Chery has achieved the curve into the commercial vehicle sector through this approach and will further expand its business scope in the automotive industry.
It is reported that the registered capital of the joint truck is 1.2 billion yuan, CIMC vehicles account for 45% of the registered capital, Teri-investment accounts for 45% of the registered capital, and Jiusi investment accounts for 10% of the registered capital. In order to expedite the operation of the joint venture project, the three parties agreed to establish “Jirui Union Heavy Industry Co., Ltd.â€. The registered capital of United Heavy Industry is RMB 400 million, and the equity structure is the same as that of the joint truck.
According to the announcement, the joint truck will build manufacturing and production facilities for medium-sized and heavy-duty trucks and parts in Wuhu, and produce and sell medium-sized and heavy-duty trucks and parts. The products will also be available in the international market. The first phase of the project will invest 2 billion yuan. It is expected that after the project is put into production in 2011, it will form the production capacity of all processes for heavy trucks (including the five processes of the body, frame, painting, welding, and assembly), and the joint truck is committed to become the main future of China. One of the truck suppliers.
The joint venture project preparatory group has conducted detailed demonstrations on the supply system of engine cores, gearboxes, axles, etc., which are used to fit the key components of the heavy truck project. The major suppliers of core components have been confirmed, and relevant technical agreements have been drafted. Business agreement.
According to industry market data, China has become the world's largest truck market in 2007 and maintains an average annual growth rate of more than 7%. At the same time, China's truck market is in a period of growth, with the European Euro III emission standard and fuel tax. The implementation of policies and the placement of large foreign logistics companies in the Chinese market are expected to see rapid growth in the future heavy truck market.
China International Marine Containers (Group) Co., Ltd. (CIMC) announced that the joint venture company will be put into operation in 2011 with an initial investment of 2 billion yuan. The joint venture will mainly produce medium and heavy trucks.
According to CIMC, due to the impact of the global economic recession on the global shipping market and the declining domestic economy, the profitability of the company's related businesses has dropped. It is expected that the company's 2008 full-year net profit will fall by 40%-60%. It is reported that the unaudited net profit of CIMC 2008 reached 1.5 billion yuan, compared with 3.17 billion yuan in 2007.
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