China News Agency, Beijing, December 15th (Reporter Chen Kangliang) China's listed company Guoxuan Hi-Tech Co., Ltd. (hereinafter referred to as "Guoxuan Hi-Tech") announced on the 15th that the company's wholly-owned subsidiary GOTION SINGAPORE PTE. LTD. ( hereinafter referred to as "Singapore Guoxuan") signed a joint venture agreement with Nuovo Plus Company Limited (hereinafter referred to as "Nuovo") through the network cloud signing method on the same day. combined battery) base.
The initial registered capital of the above-mentioned joint venture company is 300 million baht (about 60 million yuan in exchange rate conversion).
Among them, Singapore Guoxuan holds a 49% stake in the joint venture company, and Nuovo holds a 51% stake in the joint venture company.
The total investment amount of the joint venture company is expected to be 600 million baht (approximately 120 million yuan in exchange rate conversion), and the joint venture parties will jointly contribute according to the corresponding equity ratio.
Guoxuan High-Tech said that this cooperation aims to give full play to the core advantages of both parties, realize the joint development of the upstream and downstream industries, and jointly explore the new energy market in Southeast Asia.
According to reports, the business scope of the above-mentioned joint venture company is the design, development, verification, Production, sales and after-sales.
According to the agreement, Singapore Guoxuan shall provide technical and engineering support to the joint venture company individually or through one or more of its subsidiaries in accordance with the technology licensing and technical support agreement signed with the joint venture company.
Nuovo shall provide administrative services in the stages of land purchase, plant construction, personnel recruitment, bank financing, customer development and surviving operations in accordance with the stipulations in the administrative service agreement signed with the joint venture company.
Regarding the purpose of this investment, Guoxuan Hi-Tech said that this foreign investment is an important part of the company's globalization strategy, and it is of great significance for the company to develop the Southeast Asian market, increase market awareness, and build an international brand image.
According to the announcement, Nuovo is a company established under the laws of Thailand. It was established on January 11, 2022 and is headquartered in Bangkok, Thailand. It is mainly engaged in battery business and battery industry chain investment related businesses.
Nuovo belongs to PTT Public Company Limited. (hereinafter referred to as "PTT Group"), which is a national energy and petrochemical company controlled by the Thai government.
The announcement also reminds that the main target of this foreign investment is the equity of overseas companies. The investment still needs to be approved by the relevant departments of the Chinese government and the approval and registration of the relevant departments of the Thai government. There is a certain degree of uncertainty.
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