A subsidiary of Ningde Times became a shareholder of Chery Holdings, holding about 3.73% of the shares

Recently, Chery Holding Group Co., Ltd. (hereinafter referred to as “Chery Holding”) has undergone industrial and commercial changes, and its shareholder has added Ningbo Meishan Bonded Port Area Winding Investment Co., Ltd., with a shareholding ratio of 3.73%. The reporter inquired about industrial and commercial information and found that the company is a wholly-owned subsidiary of Ningde Times New Energy Technology Co., Ltd. (300750.SZ, hereinafter referred to as “Ningde Times”).

However, as of press time, neither Ningde Times nor Chery responded to this equity change.

In fact, as early as June this year, Ningde era and Chery had cooperated. On June 21, Yibin Times Cowin New Energy Technology Co., Ltd. was registered and established. The company was jointly established by Ningde Times and Cowin Automobile, with shareholding ratios of 51% and 49% respectively. The business scope includes technical services and recycling of waste power batteries And cascade utilization, battery manufacturing, battery sales, etc., excluding vehicle manufacturing.

Cowin Automobile, established in 2014, is a state-owned joint-stock enterprise controlled by Yibin Auto Industry Development Investment Co., Ltd., Chery Automobile Co., Ltd. (hereinafter referred to as “Chery Automobile”), and Sichuan Yibin Push Group Co., Ltd. Among them, Chery Automobile holds nearly 48% of the shares, making it the second largest shareholder.

After cooperating with Ningde Times, Cowin Motors officially put forward new development goals, that is, starting from 2026, the production of fuel vehicles will be gradually stopped, and the new energy vehicle business will be fully developed. By 2030, Cowin Motors will realize new energy vehicles The goal of producing and selling 500,000 vehicles.

As an upstream power battery company for new energy vehicles, it is common for Ningde Times to invest in downstream car companies. Especially since last year, Ningde Times has further accelerated its investment pace.

In May last year, Ningde Times invested 3.08155 million yuan in Aiways Automobile through a wholly-owned subsidiary, accounting for 0.36% of the shares; subsequently, Ningde Times received 300 million yuan in the fixed increase of 5.5 billion yuan in BAIC Blue Valley; last year 8 In March, Ningde Times participated in the Pre-A round of financing of Jikr, a new energy vehicle brand under Geely.

On November 15 last year, Ningde Times announced the situation of foreign investment in recent years when responding to the inquiry letter from the Shenzhen Stock Exchange. It is reported that as of September 30, 2021, CATL has invested in 75 companies, with a total subscription amount of 15.46 billion yuan; these companies include power batteries, energy storage, lithium battery materials, lithium battery intelligent equipment manufacturing, charging and swapping, Autonomous driving, new energy vehicles, and chips, semiconductors and other fields. In terms of new energy vehicle manufacturing, CATL’s investment targets include Nezha Automobile, Avita Technology, Jikrypton Automobile, AIWAYS Automobile, and BAIC Blue Valley.