Western Resources Create New Energy Automobile Industry Chain


Western Resources, which had been suspended for nearly a month, revealed today the major asset restructuring. The company plans to enter the field of new energy vehicles through acquisition of assets and open up the entire industry chain. However, due to the company's above restructuring involves a relatively large amount of work, the company's stock will continue to be suspended for 30 days from February 13.

According to the announcement, the company intends to use cash payment method to increase the capital of Chongqing Hengtong Bus Co., Ltd. and Chongqing Traffic Equipment Finance Leasing Co., Ltd., and obtain 51% of the equity respectively. At the same time, the company will acquire its holdings from Weihong Power Systems (Huzhou) Co., Ltd. Chongqing Hengtong Electric Bus Power System Co., Ltd. 66% equity. On February 11, the company’s board of directors agreed with the initial intention of the company and related parties.

According to the Western Resources, according to the company's strategic planning and transformation arrangements, the company plans to use lithium ore as raw material basis to realize the integrated industrial layout of lithium battery materials, lithium battery assembly, new energy vehicle development, manufacturing and sales, and build new energy automotive plate. Complete industrial chain.

However, the announcement did not make more descriptions of the target of the proposed acquisition. The reporter found on the website of the Chongqing Administration for Industry and Commerce that the Chongqing Hengtong Bus Co., Ltd. manufactures and sells passenger cars, auto parts and spare parts, with a registered capital of 228 million yuan. Chongqing Municipal Transportation Equipment Finance Leasing Co., Ltd. is mainly engaged in car leasing, The business of construction machinery equipment leasing and other businesses has a registered capital of 1 billion yuan. Chongqing Hengtong Electric Bus Power System Co., Ltd. specializes in the research and development of powertrains for electric buses and automobile sales. The registered capital is 100 million yuan.

It should be noted that the new energy automobile industry that Western China intends to engage in is a hot spot in the near-term market, especially for electric vehicles. Thanks to Tesla’s lead, the A-share market includes BYD, Ankai Bus, and Zhongtong Bus. Concept stocks all performed well. At the same time, the recent four ministries and commissions issued the "Notice on Further Promoting the Application of New Energy Vehicles" to adjust the subsidy standards for the promotion and application of new energy vehicles, and also played a role in promoting the new energy vehicle sector.


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