Chongqing Xitong Electric Co., Ltd.

Chongqing Xitong Electric Co., Ltd. is a joint venture jointly funded and established by Chongqing Machinery & Electronics Holding (Group) Co., Ltd. and General Electric in 2013, located at No. 1 Ningye Road, Longxing Town, Yubei District, Chongqing. The company will fully leverage the comprehensive advantages of Chongqing Machinery & Electronics and General Electric in brand, technology, market, and other aspects to provide customers with advanced electrical equipment and safe and reliable intelligent power distribution solutions. Chongqing Machinery & Electronics Group, a Fortune China 500 company, was the first state-controlled enterprise in Chongqing to be listed on the international capital market in the 10 years since Chongqing became a municipality directly under the Central Government. Founded in August 2000, it currently has 45 second-tier enterprises, controls one H-share listed company, and holds shares in one A-share listed company. Its business covers multiple fields including automobiles and auto parts, electrical and electronic appliances, general environmental protection, machine tools, electronic information, non-ferrous smelting, rail transit, and helicopters. In 2010, the Group implemented the "going global" strategy and successfully partnered with several world-renowned enterprises such as General Electric of the United States, ABB of Switzerland, and Cummins of the United States. As one of the investors in the joint venture, General Electric is a company that has remained on the Dow Jones Industrial Average since its establishment in 1896, with a history dating back to Edison. As a global diversified enterprise, its products and services cover a wide range, from energy, oil, water treatment, aviation, and healthcare to finance and news media. Its customers are spread across more than 100 countries, with over 300,000 employees. The GE Energy Management Industrial Systems division, which is cooperating with Chongqing Machinery & Electronics Group this time, possesses leading design and manufacturing capabilities for low- and medium-voltage power distribution products, which are widely applicable to many industries such as power plants, power grids, rail transit, petrochemicals, mining, industrial manufacturing, commercial buildings, and renewable energy.