AutoBeta(AutoBeta.net)11/19 Report--

With the decline of new energy subsidies, the electric vehicle market and even the automobile industry have accelerated into an adjustment period, but under the situation of conforming to the trend and actively transforming and upgrading, building a new energy automobile industry system is one of the strategic plans of various automobile enterprises.

Guanghui Automobile Service Group Co., Ltd.(hereinafter referred to as "Guanghui Automobile") issued an announcement indicating that it will establish a joint venture company with State Grid Electric Vehicle Service Co., Ltd.(hereinafter referred to as "State Grid Electric Vehicle"), tentatively named as State Grid Guanghui (Shanghai) Electric Vehicle Service Co., Ltd.

It is reported that both parties will contribute a total of 180 million yuan. Among them, Guanghui Automobile and State Grid Electric Vehicle each subscribe 90 million yuan, and both parties will hold 50% equity of the joint venture company respectively. The purpose of cooperation between the two parties is to promote the development of new energy automobile industry and build a full value chain service system for new energy vehicles.

Guanghui Automobile said that the cooperation will actively expand the charging and replacing service market of new energy vehicles and other new energy vehicles, and create an integrated service chain for charging, travel and energy of new energy vehicles by connecting the smart vehicle networking platform with intelligent charging and replacing service and sharing charging and replacing facilities resources.

According to public information, Guanghui Automobile is China Passenger Car Distribution and Service Group, one of the leading luxury passenger car distribution and service groups in China, a leading second-hand car entity trading agent among Chinese passenger car financing leasing providers and Chinese automobile dealers. With industry-leading business scale and outstanding innovation ability, the company is a leading enterprise in China's passenger car distribution and service industry.

State Grid Electric Vehicle is a specialized wholly-owned subsidiary of State Grid, which undertakes the main responsibility of charging and replacement development. Its business scope will include "technology research and development, technology transfer and technical consultation of new energy vehicle charging piles and software; design, construction and operation services of charging facilities; installation and rental services of charging piles."(excluding financial leasing business); design, sales and technical services of power modules; design of power dispatching and monitoring devices for charging stations; design of electric vehicle charging equipment and power quality online testing equipment."

Under the general environment of continuous exploration of automobile market, Guanghui Automobile shall actively adapt to market changes through business transformation and upgrading. At present, major automobile manufacturers continue to increase investment in research and development of new energy vehicles, automobile products are gradually upgrading to new energy iteration, and the future development prospects of new energy vehicles are broad.

According to the third quarter report of Guanghui Automobile this year, the company's operating income is about 122.177 billion yuan, slightly increased compared with the same period last year. The gross profit rate of new car sales improved month-on-month. In the first three quarters, the sales volume of new cars realized anti-market growth, and the growth rate obviously outperformed the industry.

With the increasing proportion of new energy vehicle sales, the service market after adding new energy can also make Guanghui Automobile more in line with the times in its future development strategy and long-term planning. Even though it is still tending to the adjustment period of new energy market, the development of new energy is still the future trend.

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