Huayu Automobile announced that recently, Huayu Automobile Systems Co., Ltd., a wholly-owned subsidiary of Huayu Automobile, and Shanxi Huaxiang Group Co., Ltd. completed the industrial and commercial registration procedures for the establishment of Huaxiang Sandman Automobile Systems Co., Ltd., and obtained a “Business License” issued by the Shanghai Pilot Free Trade Zone Market Supervision Administration. Huayu Shanghai has paid out an investment of 184 million yuan through 100% equity in Sandman Shanxi, and Huaxiang Co., Ltd. has paid 200 million yuan of investment through cash contributions. The remaining amount of the pledged capital will be injected into the joint venture in batches as agreed. The joint venture is mainly engaged in the casting and processing of cast iron products such as brake housings/brackets and steering joints for automobiles.

Huayu Automobile announced that recently, Huayu Automobile Systems Co., Ltd., a wholly-owned subsidiary of Huayu Automobile, and Shanxi Huaxiang Group Co., Ltd. completed the industrial and commercial registration procedures for the establishment of Huaxiang Sandman Automobile Systems Co., Ltd., and obtained a “Business License” issued by the Shanghai Pilot Free Trade Zone Market Supervision Administration. Huayu Shanghai has paid out an investment of 184 million yuan through 100% equity in Sandman Shanxi, and Huaxiang Co., Ltd. has paid 200 million yuan of investment through cash contributions. The remaining amount of the pledged capital will be injected into the joint venture in batches as agreed. The joint venture is mainly engaged in the casting and processing of cast iron products such as brake housings/brackets and steering joints for automobiles.