On December 23, Ge Long Hui reported that Beijing WKW Automotive Parts (002662.SZ) announced that the sixth Board of Directors' fourteenth meeting would be held on December 23, 2024, to review and approve the proposal for the establishment of a new Automotive Technology company, agreeing to set up a wholly-owned subsidiary, Peking Fengjing Automotive Technology Co., Ltd. (temporary name, subject to final registration by the market supervision and management department). The registered capital is 1 billion yuan.
The establishment of this new Automotive Technology company is an extension of the company's existing Auto Parts and Lithium Battery Business Sector. The development of the Automotive Technology company can further promote the enhancement of the original Business Sector, and at the same time, the original Business Sector can provide support for the development of the company's Automotive Business Sector, forming a good development goal of mutual promotion and common development.