About CHERY AUTO Company

The predecessor of the issuer was Anhui Auto Parts Co., Ltd., which was established on January 8, 1997 with a registered capital of 1.68 billion yuan. It was jointly funded and established by Wuhu Finance Bureau and Wuhu Economic and Technological Development Zone Construction Corporation. Among them, Wuhu Finance Bureau contributed 1.5 billion yuan, accounting for 89.29 percent of the registered capital, and Wuhu Economic and Technological Development Zone Construction Corporation contributed 0.18 billion yuan, accounting for 10.71 percent of the registered capital. On December 15, 1999, the company name was changed from "Anhui Auto Parts Co., Ltd." to "Anhui Chery Automobile Co., Ltd". In December 2000, Wuhu Municipal Finance Bureau allocated 44.02 of the equity to Wuhu Construction Investment Co., Ltd., and transferred 15.51, 28.27 and 1.49 of the equity to Anhui Investment Group Co., Ltd., Anhui Innovation Investment Co., Ltd. and Anhui International Trust and Investment Company respectively. After the equity transfer, Wuhu Construction Investment Co., Ltd. increased its capital by 61.5 million yuan, Wuhu Economic and Technological Development Zone Construction Corporation increased its capital by 10.5 million yuan, and the company's registered capital increased to 1.752 billion yuan. At the same time, the company name was changed from "Anhui Chery Automobile Co., Ltd." to "Anhui Auto Parts Co., Ltd". After the equity allocation, transfer and capital increase in December 2000, the contributions of five shareholders of Anhui Innovation Investment Co., Ltd., Anhui International Trust and Investment Company, Anhui Investment Group Co., Ltd., Wuhu Construction Investment Co., Ltd. and Wuhu Economic and Technological Development Zone Construction Corporation accounted for 27.1, 1.43, 14.87, 45.72 and 10.87 of the registered capital respectively. In December 2000, it was approved by the resolution of the shareholders meeting and the Anhui Provincial Department of Finance Finance Enterprise [2000] No. 576 "Approval on Agree to Transfer Part of the State-owned Equity of Anhui Auto Parts Co., Ltd. to Shanghai Automotive Industry (Group) Corporation for Free, wuhu Construction Investment Co., Ltd. and Wuhu Economic and Technological Development Zone Construction Corporation transferred 13.58 and 6.42 of their shares in Anhui Auto Parts Co., Ltd. to Shanghai Automotive Industry (Group) Corporation free of charge. In January 2001, Anhui Auto Parts Co., Ltd. changed its name to SAIC Chery Automobile Co., Ltd. After this equity change, Anhui Innovation Investment Co., Ltd., Anhui International Trust and Investment Company, Anhui Investment Group Co., Ltd., Wuhu Construction Investment Co., Ltd., Wuhu Economic and Technological Development Zone Construction Corporation and Shanghai Automotive Industry (Group) The company's shares account for 27.11, 1.43, 14.87, 32.14, 4.45 and 20.00 of the registered capital respectively. In June 2003, Shanghai Automotive Industry (Group) Corporation and Wuhu Construction Investment Co., Ltd. signed the "Equity Transfer Agreement", which was approved by Shanghai State-owned Assets Management Office Shanghai State-owned Assets [2003] No. 206 "Regarding the approval of the free transfer of SAIC Approval of the Group's 20% State-owned Equity in SAIC Chery. Shanghai Automotive Industry (Group) Corporation transferred its 20% equity to Wuhu Construction Investment Co., Ltd. free of charge. In April 2004, Guoyuan Holding (Group) Co., Ltd. (Anhui International Trust and Investment Company, the original shareholder of the company) and Wuhu Construction Investment Co., Ltd. signed the Capital Contribution Transfer Agreement. Guoyuan Holding (Group) Co., Ltd. transferred all its 1.43 equity to Wuhu Construction Investment Co., Ltd. In November and December 2004, Wuhu Construction Investment Co., Ltd. and Anhui Innovation Investment Co., Ltd. signed the Capital Contribution Transfer Agreement and supplementary agreement respectively. Wuhu Construction Investment Co., Ltd. transferred 1.43 of its equity to Anhui Innovation Investment Co., Ltd. In June 2004, the company name was changed from "SAIC Chery Automobile Co., Ltd." to "Chery Automobile Co., Ltd". In December 2004, according to Anhui Provincial Government Secretary [2004] No. 177 "Reply of Anhui Provincial People's Government on the Reform and Restructuring Plan of Chery Automobile Co., Ltd." and the resolution of the issuer's interim shareholders' meeting, Wuhu Ruichuang Investment Co., Ltd. (hereinafter referred to as "Ruichuang Company") obtained 4.614 of Anhui Innovation Investment Co., Ltd., Anhui Investment Group Co., Ltd., Wuhu Construction Investment Co., Ltd., Wuhu Economic and Wuhu Economic and, 2.404, 8.428 and 0.72 together represent 16.166 per cent of the issuer's equity. After this equity change, the issuer's shareholders were changed to Wuhu Construction Investment Co., Ltd., Anhui Innovation Investment Co., Ltd., Wuhu Ruichuang Investment Co., Ltd., Anhui Investment Group Co., Ltd., and Wuhu Economic and Technological Development Zone Construction Corporation. The shares accounted for 43.711, 23.926, 16.166, 12.466 and 3.731 of the registered capital respectively. According to the decision of Anhui Political Secretary (2005) No. 144 "Reply of Anhui Provincial People's Government on Approving the Establishment of Anhui Credit Guarantee Group Co., Ltd.", Anhui Credit Guarantee Group Co., Ltd. absorbed other companies on the basis of Anhui Innovation Investment Co., Ltd. Established. Anhui Credit Guarantee Group Co., Ltd. wrote to the shareholders' meeting of the issuer to request the shareholders' meeting of the issuer to discuss its inheritance of all the shares of the Issuer held by Anhui Innovation Investment Co., Ltd. In July 2007, the shareholders' meeting of the issuer passed a resolution agreeing that Anhui Credit Guarantee Group Co., Ltd. would inherit all the shares of the Issuer held by Anhui Innovation Investment Co., Ltd. In November 2007, Ruichuang signed an equity transfer agreement with Wuhu Construction Investment Co., Ltd. to transfer 1.2 of its equity interest in the issuer to Wuhu Construction Investment Co., Ltd. In December 2007, according to the resolution of the shareholders' meeting and relevant investment agreements, and approved by Anhui Provincial People's Government State-owned Assets Supervision and Administration Commission Anhui Guozi Property Rights Letter [2007] No. 490 "Reply on Approving Chery Automobile Co., Ltd. to Increase Registered Capital" and Wuhu Municipal People's Government Wuzheng Secretary [2007] No. 145 "Reply of Wuhu Municipal People's Government on Approving Chery Automobile Co., Ltd. to Increase Registered Capital", Ruichuang Company with monetary capital by 0.992 billion yuan, of which: increase the registered capital by 0.584 billion yuan, with the balance of 0.408 billion yuan as capital reserve; Shanghai Tonghua Power Venture Capital Center (Limited Partnership) and Shanghai Hushan Investment Center (Limited Partnership) increased their capital by 113,050,104.88 yuan with monetary funds respectively according to the price of 18% premium on the company's net assets after audit at the end of 2006, of which the registered capital was increased by 61.473684 million yuan and the balance was 51,576,420.88 yuan as capital reserve. The above capital increase was verified and confirmed by Anhui Huapu Certified Public Accountants Huapu Yanzi [2007] No. 0895 and Huapu Yanzi [2007] No. 0896 capital verification report respectively. Upon completion of the capital increase, the registered capital of the issuer was increased to $2458.947368 million, The shareholders of the company were changed to Wuhu Ruichuang Investment Co., Ltd., Wuhu Construction Investment Co., Ltd., Anhui Credit Guarantee Group Co., Ltd., Anhui Investment Group Co., Ltd., Wuhu Economic and Technological Development Zone Construction Corporation, Shanghai Tonghua Power Venture Capital Center (Limited Partnership), Shanghai Hushan Investment Center (Limited Partnership), the shares held accounted for 34.4133, 31.9991, 17.0473, 8.8820, 2.6583 of the registered capital respectively, 2.5000 per cent and 2.5000 per cent. According to the resolution of the shareholders' meeting held by the issuer on March 1, 2008, the company as a whole was changed into a joint stock limited company, and the company's audited net assets of 3,256,646,044.12 yuan as of December 31, 2007 were converted into 3.2 billion shares of share capital at a discount ratio of 1:0.9826, and the difference of 56,646,044.12 yuan was included in the capital reserve. In March 2009, in accordance with the resolution of the issuer's first extraordinary general meeting of shareholders in 2009 and the revised articles of association, and approved by the Anhui Provincial People's Government State-owned Assets Supervision and Administration Commission Anhui Guozi Property Rights Letter [2009] No. 88, the issuer increased The registered capital is RMB 0.48 billion, and the new registered capital is determined by China Huarong Asset Management Company, Tianjin CDH Equity Investment Phase I Fund (Limited Partnership), Tianjin CDH Yuanbo Equity Investment Fund (Limited Partnership), bohai Industrial Investment Fund Management Co., Ltd., Beijing Zhongke Fangshan Venture Capital Fund Co., Ltd., Shanghai Kebao Equity Investment Co., Ltd., Zhangjiagang Zhongke Huixin Venture Capital Co., Ltd., Jiangxi Zhongjia Investment Co., Ltd., Rongde Asset Management Co., Ltd. subscribed in the form of monetary funds, and the registered capital of the company after the change is RMB 3.68 billion. The above-mentioned investors actually paid 1.44 billion yuan of investment funds, converted into paid-in capital 0.48 billion yuan according to the ratio of 3:1, and the excess amount of 0.96 billion yuan was transferred to capital reserve. At the same time, the shareholder Wuhu Ruichuang Investment Co., Ltd. transferred 86.67 million shares of the company held by it to the above-mentioned new shareholders. The transferred shares of each new shareholder are: 12,771,004 shares of China Huarong Asset Management Company, 15,906,401 shares of Tianjin CDH Equity Investment Phase I Fund (Limited Partnership), 4,485,911 shares of Tianjin CDH Yuanbo Equity Investment Fund (Limited Partnership), 25,490,007 shares of Bohai Industrial Investment Fund Management Co., Ltd, beijing Zhongke Fangshan Venture Capital Fund Co., Ltd. 10,197,226 shares, Shanghai Kebao Equity Investment Co., Ltd. 5, 098,613 shares, Zhangjiagang Zhongke Huixin Venture Capital Co., Ltd. 5,098,613 shares, Jiangxi Zhongjia Investment Co., Ltd. 5,098,613 shares, Rongde Asset Management Co., Ltd. 2,523,612 shares. On May 6, 2009, the company's shareholder Wuhu Ruichuang Investment Co., Ltd. and Wuhu County Construction Investment Co., Ltd. signed the "Equity Transfer Agreement". Wuhu Ruichuang Investment Co., Ltd. transferred its 100 million shares of the company to Wuhu County Construction Investment Co., Ltd. at a price of RMB 3 per share; On May 12, 2009, the company's shareholder Wuhu Ruichuang Investment Co., Ltd. and Xintianyu Growth (Tianjin) Equity Investment Enterprise (Limited) signing the "Equity Transfer Agreement", Wuhu Ruichuang Investment Co., Ltd. transferred its 27.5 million shares of the company to Xintianyu Growth (Tianjin) Equity Investment Enterprise (Limited Partnership) at a price of RMB 3 per share; June 2009, The company's original shareholder Shanghai Hushan Investment Center (limited partnership) and Wuhu Ruichuang Investment Co., Ltd. signed the "Equity Transfer Agreement", Shanghai Hushan Investment Center (limited partnership) the company's 80 million shares held by it were transferred to Wuhu Ruichuang Investment Co., Ltd. at a price of RMB 3 per share. After the above equity transfer, the company's registered capital was still RMB 3.68 billion. In September 2009, according to the resolution of the company's second extraordinary general meeting of shareholders in 2009, the issuer increased its registered capital by RMB 0.1 billion. The new registered capital was subscribed by the new shareholder Dalian Automobile Industry Investment Co., Ltd. in the form of monetary funds, and the actual investment payment was 1.3 billion yuan, which was converted into paid-in capital of RMB 0.1 billion yuan according to the ratio of 13:1, and the excess amount of RMB 1.2 billion yuan was transferred to capital reserve. The registered capital of the company after this capital increase is RMB 3.78 billion. In December 2009, according to the resolution of the company's third extraordinary general meeting of shareholders in 2009, the issuer increased its registered capital by RMB 0.1 billion. The newly increased registered capital was subscribed by Kaifeng New District Infrastructure Construction Investment Co., Ltd. in the form of monetary funds, and the actual investment payment was 1.3 billion yuan, which was converted into paid-in capital of RMB 0.1 billion yuan according to the ratio of 13:1, and the excess amount of RMB 1.2 billion yuan was transferred to capital reserve. The registered capital of the company after this capital increase is RMB 3.88 billion. On May 5, 2010, the name of the issuer's shareholder Xintianyu Growth (Tianjin) Equity Investment Enterprise (Limited Partnership) was changed to New Vision Growth (Tianjin) Equity Investment Partnership (Limited Company). On October 19, 2010, New Vision Growth (Tianjin) Equity Investment Partnership (Co., Ltd.) and Guiyang Economic and Technological Development Zone Tongsheng Advantage Equity Investment Management Center (Co., Ltd.) signed the "Equity Transfer Agreement", New Vision Growth (Tianjin) Equity Investment Partnership (Co., Ltd.) transfer its 9.3 million shares of the issuer to Tongsheng Advantage Equity Investment Management Center (Co., Ltd.) of Guiyang Economic and Technological Development Zone at a price of RMB 6.2 per share. On September 26, 2010, the issuer's shareholders Wuhu Construction Investment Co., Ltd. and Wuhu Ruichuang Investment Co., Ltd. signed the "Joint Venture Contract on the Establishment of Chery Holdings Co., Ltd.", according to this contract, Wuhu Construction Investment Co., Ltd. and Wuhu Ruichuang Investment Co., Ltd. established Chery Holdings (hereinafter referred to as "Chery Holdings") with their 648,342,500 and 598,470,000 shares of the issuer and monetary capital investment. According to the resolution of the company's first extraordinary general meeting of shareholders in 2010, the issuer increased its registered capital by RMB 0.1 billion, and the new registered capital was subscribed by Changshu Port Development and Construction Co., Ltd. in the form of monetary funds. In June 2011, the issuer received the actual investment payment of 2 billion yuan from Changshu Port Development and Construction Co., Ltd., equivalent to 0.1 billion yuan of registered capital, and the excess amount of 1.9 billion yuan was transferred to the capital reserve. After this capital increase, the registered capital of the company was changed to RMB 3.98 billion. On June 14, 2011, the name of Anhui Investment Group Co., Ltd., a shareholder of the issuer, was changed to Anhui Investment Group Holding Co., Ltd. On December 28, 2011, the original shareholders Beijing Zhongke Fangshan Venture Capital Fund Co., Ltd., Shanghai Kebao Equity Investment Co., Ltd., Zhangjiagang Zhongke Huixin Venture Capital Co., Ltd., Jiangxi Zhongjia Investment Co., Ltd. signed an equity transfer agreement with Chery Holdings. The original four shareholders transferred all the shares of the issuer to Chery Holdings. In October 2012, China Huarong Asset Management Co., Ltd., the former shareholder of the company, signed an equity transfer agreement with Chery Holdings, and China Huarong Asset Management Co., Ltd. transferred its 83.5 million shares of the issuer to Chery Holdings. According to the resolution of the company's 2012 annual general meeting of shareholders, the issuer increased its registered capital by RMB 0.12 billion, and the new registered capital was subscribed by Changshu Port Development and Construction Co., Ltd. in the form of monetary funds. In November 2012, the issuer received the actual investment payment of 2.4 billion yuan from Changshu Port Development and Construction Co., Ltd., equivalent to 0.12 billion yuan of registered capital, and the excess amount of 2.28 billion yuan was transferred to the capital reserve. After this capital increase, the registered capital of the company was changed to RMB 4.1 billion. According to the Equity Transfer Agreement signed by Shanghai Tonghua Power Venture Capital Center (Limited Partnership) and Sun Xiang, Zhang Wei and Wang Ting in August 2012, in 2013, Shanghai Tonghua Power Venture Capital Center (Limited Partnership) transferred 10,410,960 shares of the issuer held by it to Sun Xiang 4,554,795 shares, Zhang Wei 4,554,795 shares and Wang Ting 1,301,370 shares respectively. According to the Equity Transfer Agreement signed by the issuer's shareholders Tianjin CDH Equity Investment Phase I Fund (Limited Partnership), Tianjin CDH Yuanbo Equity Investment Fund (Limited Partnership) and Chery Holdings in December 2012, in 2013, Tianjin CDH Equity Investment Phase I Fund (Limited Partnership) transferred 34,666,667 shares of the issuer held by it to Chery Holdings; Tianjin CDH Yuanbo Equity Investment Fund (Limited Partnership) transfer 9,776,667 of its shares in the issuer to Chery Holdings. According to the Share Transfer Agreement signed between Bohai Industrial Investment Fund Management Co., Ltd., the former shareholder of the issuer, and Chery Holdings in November 2012. In 2013, Bohai Industrial Investment Fund Management Co., Ltd. transferred 166,660,000 shares of the issuer it held to Chery Holdings. On November 20, 2012, Rongde Asset Management Co., Ltd., a shareholder of the issuer, changed its name to Huarong Rongde Asset Management Co., Ltd. According to the Equity Transfer Agreement signed between Huarong Rongde Asset Management Co., Ltd., a shareholder of the issuer, and Chery Holdings in April 2013, Huarong Rongde Asset Management Co., Ltd. transferred 16,500,000 shares of the Issuer held by Huarong Rongde Asset Management Co., Ltd. to Chery Holdings. According to April 2013, the original shareholder of the issuer, New Vision Growth (Tianjin) Equity Investment Partnership (Limited Partnership) and Chery Holdings signed the Share Transfer Agreement. In 2013, New Vision Growth (Tianjin) Equity Investment Partnership (Limited Partnership) transferred 18,200,000 shares of the Issuer held by it to Chery Holdings. According to the Share Transfer Agreement signed between Chery Holdings, a shareholder of the issuer, and Changshu Port Development and Construction Co., Ltd. in December 2012, Chery Holdings transferred 55,000,000 shares of the issuer held by Chery Holdings to Changshu Port Construction in 2013. According to the resolution of the 4th Extraordinary General Meeting of Shareholders in 2013 held in December 2013, the issuer increased its registered capital by RMB 20 million, and the new registered capital was subscribed by Changshu Port Development and Construction Co., Ltd. in the form of monetary funds. In December 2013, the issuer received the actual investment payment of 0.4 billion yuan from Changshu Port Development and Construction Co., Ltd., equivalent to 20 million yuan of registered capital, and the excess amount of 0.38 billion yuan was included in the issuer's capital reserve. After this capital increase, the registered capital of the company was changed to RMB 4.12 billion. According to the resolution of the company's fourth extraordinary general meeting of shareholders in 2015 held in August 2015, the issuer increased its registered capital by RMB 336.9 million, and the new registered capital was subscribed by Xingye Chery Changshu Automobile Industry Research and Development Fund (Limited Partnership) in the form of monetary funds. In February 2016, the issuer received the actual investment payment of 1.55 billion yuan from Xingye Chery Changshu Automobile Industry Research and Development Fund (Limited Partnership), equivalent to 336.9 million yuan of registered capital, and the excess amount of 1.2131 billion yuan was included in the issuer's capital reserve. After this capital increase, the registered capital of the company was changed to RMB 4.4569 billion. The company is a large national enterprise and one of the 12 key enterprise groups in Anhui Province, mainly engaged in the research and development, manufacturing and sales of automobile vehicles and parts. After nearly 20 years of rapid development, the issuer currently has more than 20 new cars on the market, with a global annual production capacity of 900000 vehicles and powertrains, and its products are sold to more than 80 countries and regions. At present, it has fully realized independent research and development of complete vehicles, powertrains and key components. According to the Company's audited 2016 financial statements, as of the end of 2016, the Company's (consolidated) Total assets were $77.91 billion, total liabilities were $58.121 billion, and total equity was $19.709 billion (of which minority interests were $0.367 billion). In 2016, the company realized operating income of 32.964 billion yuan, total profit of 0.206 billion yuan and net profit of 0.302 billion yuan. According to the company's unaudited financial statements for the first quarter of 2017, as of the end of March 2017, the company's (consolidated) total assets were 80.105 billion yuan, total liabilities were 59.934 billion yuan, and owner's equity was 20.171 billion yuan (of which minority shareholders' equity was 0.345 billion yuan). From January to March 2017, the company realized operating income of 6.912 billion yuan, total profit of 0.083 billion yuan and net profit of 0.196 billion yuan. Announcement on September 30, 2018: Yin Tongyue served as chairman and general manager.