Iat Automobile Technology Co.Ltd(300825) ( Iat Automobile Technology Co.Ltd(300825) ), which is committed to providing vehicle design services to major automobile manufacturers in China, has also begun to make further attempts to vehicle ODM. On March 27, the company announced that it plans to acquire 80.1% equity of Tianjin Bojun Automobile Co., Ltd. (hereinafter referred to as “Tianjin Bojun”).
According to the announcement, on March 26, Iat Automobile Technology Co.Ltd(300825) signed the cooperation agreement between Iat Automobile Technology Co.Ltd(300825) Tianjin Xiqing Economic Development Group Co., Ltd. (hereinafter referred to as “Xiqing Economic Development Group”) and Tianjin FAW Xiali Operation Management Co., Ltd. (hereinafter referred to as “FAW Xiali”) on Tianjin Bojun Automobile Co., Ltd, The company and Xiqing Economic Development Group intend to transfer the equity of Tianjin Bojun.
FAW Xiali and Nanjing Bojun New Energy Vehicle Co., Ltd. (hereinafter referred to as “Nanjing Bojun”) jointly hold 100% equity of Tianjin Bojun, of which FAW Xiali holds 19.9% and Nanjing Bojun holds 80.1%.
Iat Automobile Technology Co.Ltd(300825) plans to transfer 80.1% equity of Tianjin Bojun through equity transfer, and Xiqing Economic Development Group plans to transfer 19.9% equity of Tianjin Bojun through equity transfer.
All parties agree that the price of this transaction is based on the evaluation value of the equity of the target company by the asset evaluation institution, which shall be determined by the parties to the transaction through subsequent negotiation.
It is disclosed that the business scope of Tianjin Bojun includes automobiles and parts, automobile fittings, engines, electric drive systems, battery pack systems, energy storage systems, etc.
Iat Automobile Technology Co.Ltd(300825) said that the company has been committed to the whole process of automobile R & D for many years, and has successfully developed nearly 300 models for more than 60 customers. The core parts R & D and manufacturing business that has been incubated for many years has entered the climbing stage of mass production, and continues to explore the breadth and depth extension of the industrial chain.
The signing of this cooperation agreement with relevant parties is a further attempt of the company to expand its business segment to vehicle ODM based on its existing business advantages and the demand of the supply chain structure of the automobile market.
This cooperation will help the company better serve the customers of vehicle enterprises on the premise of maintaining neutrality, further improve the company’s business chain and enhance the company’s comprehensive competitiveness. This cooperation has a positive impact on the company to enhance its brand influence and promote the long-term and healthy development of the company.
Thanks to the recovery of the automobile market and the improvement of the company’s competitiveness, Iat Automobile Technology Co.Ltd(300825) performance in 2021 has also been expected.
The performance forecast of 2021 previously disclosed by the company shows that with the increase of project acceptance and the promotion of project performance, the company is expected to realize a net profit of 190 million yuan to 210 million yuan in 2021.
During the reporting period, Iat Automobile Technology Co.Ltd(300825) successively signed a number of orders, and achieved good results in the in-depth service of existing customers and the development of new customers. The company’s vehicle R & D business continues to maintain a high-speed growth trend, in which the R & D and vehicle design business of new energy vehicles is still the main contributor to the company’s performance. The company’s business undertaking quantity and the quality of completed projects have increased steadily, jointly promoting the performance to achieve a significant improvement.
