Notice on competitive introduction of strategic investors

Notice on competitive introduction of strategic investors
Announcement number: 2018-001 announcement date: August 8, 2018
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and there is no false record, misleading statement or major omission.
Xiangyang jiuzhou automobile co., LTD. (hereinafter referred to as "jiuzhou automobile"), with the solicitude and strong support from xiangyang municipal party committee, municipal government and leaders at all levels, completed the construction of the factory project successively in 2017, passed the qualification relocation examination of the ministry of industry and information technology and formally put into operation. At present, the completed first-phase factory covers an area of 366 mu, with a building area of 96829.5 m2, including the production workshop of parts, chassis, welding, coating, complete vehicle assembly, as well as auxiliary facilities such as vehicle performance testing line, laboratory, office building, science and technology building and comprehensive station room. Among them, the welding, final assembly and coating production line has a perfect manufacturing process and processing capacity for domestic advanced bus manufacturing enterprises, which has a certain degree of intelligence and automation, and has the annual production capacity of 55,000 new energy vehicles complete production conditions. Main products include :6-12 meters (fuel oil, natural gas, new energy) large and medium passenger cars; 2-18 m3 all-electric logistics vehicle; Special vehicles such as engineering emergency, medical ambulances and mini electric vehicles.
Since its production began, the company has continued to carry out product research and development, trial production and market development through the concerted efforts of all employees, completed the development and announcement of 24 models of new energy logistics vehicles and passenger cars, and achieved the market sales of more than 10 cities including xiangyang, changsha and wenzhou.
In order to further develop the domestic and foreign new energy vehicle market, combined with the company's future strategic layout, the company held a general meeting of shareholders on July 6, 2018 to discuss the introduction of strategic investors. According to the first resolution of the company's first shareholders' meeting, the company immediately started the key work of competitive introduction of strategic investors.
We hereby extend our sincere invitation to the whole society and hope that interested strategic investors can have friendly discussions. The basic conditions are as follows:
1. Equity consideration: the corresponding price of each 1% equity shall not be less than 2.5 million RMB.
2. The working capital (excluding the equity capital) injected into kyushu auto for the first time shall be no less than rmb300 million (the capital cost shall not be higher than 6.2%/ year), and the financing guarantee capacity shall be no less than rmb1 billion.
3. With the same basic conditions, large state-owned enterprises, listed companies or strategic investors with upstream and downstream industrial resources of the company are preferred.
The board of directors of the company shall, in accordance with the principle of fairness, impartiality and openness, determine through competitive negotiation more than two strategic investors who meet the above conditions.
Hereby notice!
Xiangyang jiuzhou automobile co. LTD. Board of directors
August 8, 2018

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