AutoBeta(AutoBeta.net)11/11 Report--

Dongfeng Motor announced today that the company had previously disclosed the operation project of the Xiangyang Dongfeng Hanjiang New Energy Automobile Industry Fund and had obtained the "Private Investment Fund filing Certificate" issued by the China Securities Investment Fund Industry Association. The completion of this filing means that the official launch of Dongfeng Automobile New Energy Automobile Industry Fund is not far away.

In August this year, Dongfeng Motor announced that in response to the national call for energy conservation and emission reduction and green travel, it would increase the company's sales of new energy vehicles, reduce its new energy vehicle receivables and improve the company's cash flow. The company has signed Xiangyang Dongfeng Hanjiang New Energy Automobile Industry Fund Partnership (Limited Partnership) and Xiangyang Dongfeng Hanjiang New Energy Automobile Industry Fund Partnership (Limited Partnership) with Hanjiang Holdings and Beijing Ruihe, jointly contributing 1.2 billion yuan to set up Xiangyang Dongfeng Hanjiang New Energy Automobile Industry Fund.

According to the plan, the total size of the fund is 1.2 billion yuan, and the first phase is 600 million yuan. Dongfeng Motor Co., Ltd. subscribed to 49.5% of the total investment of 594 million yuan. The initial investment is RMB 297 million yuan, and in the later stage it will be contributed in installments according to the establishment of the sub-fund.

According to the previous announcement, in terms of the decision-making mechanism, the fund manager will set up an investment decision-making committee. The committee consists of five members, three of whom are recommended by the fund manager, one by Hanjiang Holdings and one by Dongfeng Motor, which shall take effect with the consent of all the partners. The Investment decision Committee will be given the final decision on the investment and exit decisions related to the fund in accordance with the partnership agreement, and the authorization period shall be the same as the duration of the fund.

The establishment of the fund will be aimed at the field of new energy vehicle industry and focus on supporting the operation project of Dongfeng new energy vehicle for Dongfeng new energy vehicle sales side. Its profit model is that Dongfeng New Energy vehicle Project Company purchases new energy vehicles from Dongfeng Automobile according to the procurement plan of New Energy vehicle Operation Company, and then leases them to the holding subsidiary of New Energy vehicle Operation Company, which pays monthly rental fees to Dongfeng New Energy vehicle Project Company.

At present, companies engaged in light commercial vehicles and buses have only four new energy models, namely Dongfeng Junfeng E11, ER30, EV30 and E17.

According to KuaiBao, Dongfeng Motor's September production and sales data, Dongfeng Motor sold a total of 118001 vehicles from January to September this year, an increase of 10.06% over the same period last year. However, affected by the passenger car market, Dongfeng Motor's performance in the passenger car market this year is "all the way down", with cumulative sales of 6240 vehicles from January to September, down 23.04% from the same period last year, and the market impact is obvious.

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