1. China National Heavy Duty Truck Co., Ltd. Inspects German Man First Heavy Truck Product to Be Available Next Year

After one year of successful cooperation, the German Man Group showed greater confidence in the Chinese market. Yesterday, China National Heavy Duty Truck and Man Group announced the progress of the cooperation between the two parties over the past year. The CEO of the Man Group, Pajeta, said that it is very likely that it will increase its stake in Sinotruk and it can increase its holdings of up to 24%. In addition, the first new product will be launched in 2011.

"We are very likely to increase capital." Yesterday, the CEO of the Manchester Group Pachita said in Beijing that if the cooperation with Sinotruk is successful, it will consider introducing new projects. Whether the capital increase or not, and the increase in capital, are all independent decisions of Man. There is room for an increase of 24%.

The reason is that China National Heavy Duty Truck Group holds 51% of its Hong Kong-listed company Sinotruk, which is a controlling shareholder. This share ratio will not change, so Mann currently holds a maximum of 25% and 1 share. Can increase the holding of 24% of shares.

"Cooperation between the two parties is divided into two levels," Cai Dong, general manager of China National Heavy Duty Truck Co., said that at the capital cooperation level, the Manchester Group obtained a 25%+1 share of CNHTC through investment of 560 million euros. At the technical operation level, Mann will TGA vehicle technology and key assembly and component technologies such as engines and axles are transferred to China National Heavy Duty Truck Group. China National Heavy Duty Trucks has exclusive rights to use the licensed technology for truck production and assembly in China, and both parties will use mutual global sales networks. Global sales of new products.

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