On December 13, Gelonghui reported that TIMES ELECTRIC (688187.SH) announced plans to effectively promote the sustainable and healthy development of TIMES ELECTRIC's new energy vehicle electric drive industry, creating a core competitive advantage in the full industry chain of new energy passenger and commercial vehicle "components + parts + systems." TIMES ELECTRIC intends to use its own cash funds to acquire 100% equity of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. (hereinafter referred to as "this Trade"), which, after completion, will be a wholly-owned subsidiary of the company, included in the scope of the company's consolidated financial statements.
Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. focuses on the research and development and manufacturing of mid-to-high-end electric drives for new energy commercial vehicles, with products covering electric machines, Electronic Control, Fuel Cell Energy DC/DC, and other vehicle conversion equipment, not involved in new energy complete vehicles and battery research and development or manufacturing. Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. has a complete product range, having established three electric drive platforms for buses, light trucks, and heavy trucks, capable of providing full-level products that cover components (control boards, driver boards, rotors, etc.), parts (single electric machine, single Electronic Control), and systems (three-in-one, electric drive bridges, etc.).
This Trade is priced based on assessed net assets, with a transaction amount of RMB 106.925 million. (1) Acquisition of 48.7919% equity held by CRRC Zhuzhou, with a transaction amount of 52,170,752.88 yuan; (2) Acquisition of 16.2081% equity held by Xiangyang CRRC Electric Machine, with a transaction amount of 17,330,515.51 yuan; (3) Acquisition of 35% equity held by CRRC Electric, with a transaction amount of 37,423,759.90 yuan.
