Signed 620,000 distribution agreements with Brazil

Jianghuai Automobile (600418) bulletin, the company and a Brazilian dealer signed the relevant agreement proposed, the Distributor as Jianghuai automobile in the Brazilian market exclusive agent for the network layout and will do its best to complete the two sides reached sales forecasts, that is, from 2010 to 2020, the cumulative sales of all types of cars total about 620,000 units.　　The agreement is not a market order, the final completion of the sales target is a certain degree of uncertainty. Analysts believe that the company's agreement with Brazilian dealers means that the company's overseas operations are showing results.　　In fact, the company began to expand overseas markets very early, and in 2005 set up an import and export company (later renamed International company), Brazil is only a part of the company's overseas target market. According to the data, the Distributor mentioned in the bulletin is the Brazilian SHC automobile distribution Group, the President of the group said that this is the first time that Jianghuai Motor entered the Brazilian market, the first batch of cars in Brazil began to be sold in 2010, it is expected to sell 35,000 vehicles in 2011, 50,000 in 2012. Jianghuai Automobile in the Brazilian market rivals include Hafei, Gold Cup, Changan, Chery and so on.