Set up a subsidiary to expand the southwest market

Futian Auto (600166) in order to expand the company's heavy truck market, improve the Auman in the heavy truck (including chassis) in the southwest market share, the company and Sichuan Tengzhong Heavy Machinery Co., Ltd. wholly-owned subsidiary Sinovel Special Vehicles Co., Ltd., set up Sichuan Tengzhong Futian Special-purpose vehicle limited liability company. The new company registered capital of 80 million yuan, the scope of business is the production and manufacture of special vehicles and sales, after the sale of products maintenance services. Huarui Special Vehicles Co., Ltd. Capital contribution of 52 million yuan, 65% of the shareholding, including 39 million yuan in the currency, the physical assets 13 million yuan, Fukuda auto capital 20 million yuan, shareholding 25%, of which the currency contribution of 10 million yuan, intangible assets (dump truck modification technology) to invest 10 million yuan;　　Teng Zhong Heavy industry designated individual shareholders in the currency of 8 million yuan, shareholding 10%. Fukuda said that through the joint regional dedicated vehicle production enterprises, the establishment of special vehicle companies, can increase localization production, saving logistics costs and sales costs, and then effectively expand Orman in South West District market share. In addition, we can improve the industrial layout of Futian automobile in the whole country, meet the needs of the growing Southwest market, and continuously improve the brand popularity of Futian automobile in the local area, thus promoting the sales of Futian automobile in the southwest region.