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On September 27, Liaoning Shuguang Automobile Group Co., Ltd. (hereinafter referred to as "dawning") issued a notice that the company intends to transfer the advanced and mature technology of Chery S18 (Ruiqi M1) and S18D (Ruiqi X1) models held by Tianjin Meiya New Energy Automobile Co., Ltd. It is understood that Tianjin Meiya New Energy Automobile Co., Ltd. is the wholly owned salary of Huatai Automobile Group Co., Ltd., the controlling shareholder of the company. The technology transfer price of the above transaction is based on 140 million yuan of relevant assets obtained by Tianjin Meiya from Chery Automobile, deducting 7.7 million yuan from the reduction fee, and finally determining the transfer price of 132 million yuan.

Data show that Liaoning Shuguang Automobile Group Co., Ltd. was established in December 1995, is a cross-regional enterprise group with complete vehicles, axles and spare parts as its main business. at present, the company has two major brands of "Huanghai" cars and "dawning" axles, mainly producing passenger cars, pick-up trucks, light passengers and special vehicles in the automobile market. Dawning's vehicle sales have been lacklustre in recent years, with vehicle sales of 21100, 15600, 7710 and 7892 respectively from 2017 to 2020. In the first eight months of this year, dawning sold a total of 4874 vehicles, up 19.20% from a year earlier.

With regard to the technology related to the transfer, dawning said in the announcement that the company intends to follow the national strategy of encouraging the development of new energy vehicles and other strategic emerging industries, expand the market of new energy passenger vehicles, and fill the gap in the pure electric passenger car market through the transfer of advanced mature technology and its own continuous digestion and absorption of independent research and development. At the same time, the company will keep abreast of the latest products and technological developments of pure electric passenger cars through the passenger car project, so as to speed up the transformation of the company's product structure and promote the pure electric passenger vehicle project. According to the plan, dawning will develop and produce pure electric cars and SUV.

However, the related technology introduced by dawning shares has caused some controversy, mainly due to the outdated technology. It is understood that Chery launched "Ruiqi" and "Weilin" two high-end brands in 2009, of which the Ruiqi X1 is the brand's first mini SUV model, which went on sale on November 15, 2009. Ruiqi M1 is the first high-end boutique car launched by Ruiqi brand aiming at the middle and high-end market, which went on sale on April 20, 2009. However, Chery's high-end brand image has not been established, and sales of the brand have been declining for many years. After 2012, Chery stopped using the Ruiqi and Weilin brands one after another.

According to the announcement of dawning, Tianjin Meiya signed a "property rights transaction contract" and a "patent implementation license contract" with Chery Automobile in 2017, thus obtaining some asset rights of Ruiqi M1 and Ruiqi X1 models. However, Tianjin Meiya does not seem to be able to drive the market after getting the relevant assets, and dawning shares you transferred to Tianjin Meiya to hold Ruiqi X and Ruiqi M1 related assets, both body design and product technology are far from the current mainstream models, spending a lot of money to acquire outdated technology, which is also the reason for its controversy.

According to the interim results report, dawning's operating income rose 69.08 per cent to 1.408 billion yuan in the first half from a year earlier, down 715.82 per cent from a year earlier to-101 million yuan. It is understood that at present, the controlling shareholder of dawning is Huatai Automobile Group Co., Ltd., as an independent brand car company with new energy vehicles, traditional cars and auto parts as its main business, it is plagued by funds because of automobile production, marketing and management problems, and news of arrears of employees' wages and payment to distribution suppliers also emerge one after another, although it has not publicly announced its withdrawal from the market. But it is no different from withdrawing from the market.

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