On the evening of January 18, Zhangjiagang Furui Special Equipment Co.Ltd(300228) issued an announcement on investment and establishment of joint ventures and related party transactions. The announcement shows that the company plans to invest in a joint venture to engage in R & D and manufacturing of various supporting parts and components of hydrogen fuel cell system.
According to the announcement, the company held the 25th meeting of the Fifth Board of directors on January 18, 2022, deliberated and approved the proposal on investment and establishment of joint ventures and related party transactions, and agreed to invest 25.5 million yuan to cooperate with Shanghai huruichao technology partnership (limited partnership) Zhangjiagang hydrogen Lu technology industry partnership (limited partnership) jointly invested and established a joint venture Shanghai fuhydrogen New Energy Technology Co., Ltd. in Shanghai (tentative name, subject to the final review of the market supervision and administration department). The joint venture is specialized in R & D and manufacturing all kinds of supporting parts and components of hydrogen fuel cell system by taking advantage of the opportunity that Shanghai urban agglomeration has been approved as the first batch of fuel cell vehicle demonstration and application pilot in China and vigorously supports the hydrogen energy application industry. The total investment of the joint venture is 50 million yuan. The company subscribed 25.5 million yuan with its own funds, accounting for 51% of the equity of the joint venture, huruichao technology subscribed 17.5 million yuan with intellectual property rights, accounting for 35% of the equity of the joint venture, and hydrogen technology subscribed 7 million yuan in cash, accounting for 14% of the equity of the joint venture.
At the same time, the announcement shows that since Huang Feng, chairman of the company, is the executive partner of hydrogen Lu technology, hydrogen Lu technology is an affiliated legal person of the company according to the affiliated relationship stipulated in the GEM Listing Rules of Shenzhen Stock Exchange, and the joint investment of the company and hydrogen Lu technology constitutes a connected transaction. Major asset restructuring that does not constitute the provisions of the measures for the administration of major asset restructuring of listed companies does not need to be approved by relevant departments.
Zhangjiagang Furui Special Equipment Co.Ltd(300228) said that in 2021, Shanghai urban agglomeration was approved as the first pilot demonstration application of fuel cell vehicles in China, which has brought great opportunities for the promotion and application of fuel cell vehicles in Shanghai. On the basis of doing a good job in the main business of traditional LNG equipment manufacturing, the company has been paying close attention to the industrialization progress in the field of new energy, especially in the application of hydrogen energy. With the continuous expansion of the scale of fuel cell vehicle demonstration operation in Shanghai, the supporting parts industry of hydrogen fuel cell system has ushered in a good development opportunity. At this time, the company, Shanghai Ruichao technology and hydrogen Lu Technology jointly invested and established a joint venture in Shanghai to realize the company’s industrial innovation and product upgrading with the help of this industrial development opportunity. Huruichao technology has certain technology and product reserves in supporting parts of hydrogen fuel cell system, including hydrogen injection valve, circulating pump, water separator, ejector, etc. hydrogen Lu technology is the team shareholding platform for the company to participate in the innovative business. Mr. Huang Feng, chairman of the company, only participates in hydrogen Lu Technology as general partner and executive partner, The purpose is to strengthen the control of the shareholding platform and encourage team members to work hard and make achievements to the greatest extent. Through the establishment of joint ventures with Shanghai Ruichao technology and hydrogen Lu technology, the company took the opportunity to intervene in the development and manufacturing of supporting parts and components of hydrogen fuel cell system, so as to develop new products, explore new markets and cultivate new profit growth points.
