On July 28th, 300207.SZ announced that the company held the 11th meeting of the Fifth Board of Directors and the 11th meeting of the Fifth Board of Supervisors on July 27th, 2021, and examined and passed the "proposal on the Joint Venture Company jointly invested by wholly-owned subsidiaries, Geely Group and Zhejiang Geerun". It is agreed that Xinwangda Electric car Battery Co., Ltd., a wholly owned subsidiary of the company, together with Geely Automobile Group Co., Ltd. (Geely Group) and Zhejiang Jirun Automobile Co., Ltd. (Zhejiang Jirun Automobile Co., Ltd.), jointly invest in the establishment of a joint venture company Shandong Geely Xinwangda Power Battery Co., Ltd. (hereinafter referred to as "Shandong Geely Xinwangda" or "joint venture company", tentatively named, Specific to the name of industrial and commercial registration), capacity construction includes cells, modules and battery package production lines, mainly focused on supporting the production of HEV (including 48V) power battery package to meet the needs of Zhejiang Geerun, Geely Group and its related parties full range of HEV automotive power battery products.
The registered capital of Shandong Geely Xinwanda is RMB 100 million, and the ownership structure is as follows: Zhejiang Geerun intends to subscribe 41.5 million yuan, accounting for 41.5% of the registered capital of the joint venture company; Xinwangda car battery plans to subscribe for 30 million yuan, accounting for 30% of the registered capital of the joint venture company; Geely Group intends to subscribe 28.5 million yuan, accounting for 28.5% of the registered capital of the joint venture company. As of the date of announcement, the parties to the transaction have signed the "Joint Venture contract of Shandong Geely Xin Wanda Power Battery Co., Ltd.".
