Hubei Meiyang Automobile Industry Co., Ltd.

Hubei Meiyang Automobile Industry Co., Ltd. is one of the key projects of Xiangyang's "13th Five-Year Plan", boasting complete stamping, welding, painting, assembly, and testing trial production lines. The company's strategic partner, Zotye Holding Group, has covered market segments including sedans, SUVs, MPVs, and new energy vehicles through years of effort, with sales networks extending across major, medium, and small cities in China as well as third- and fourth-tier markets, and products exported to over 80 countries and regions in Asia, Africa, Europe, and the Americas. In 2014, Zotye Automobile sold 166,000 vehicles, 200,000 in 2015, 330,000 in 2016, and is expected to achieve a sales target of 500,000 in 2017. Cumulative sales to date amount to 1.4 million vehicles, with 20,000 employees.

Hubei Meiyang Automobile Industry Co., Ltd. is not only a key state-supported project but also a key development industry in Hubei, receiving strong support from the Xiangyang Municipal Government. The company has increased investment in the R&D and production of power lithium batteries and their assembly technology, while committing to provide convenient supporting products for new energy vehicle companies in Xiangyang, actively contributing to the development of the city's green industry. In response to the national call to vigorously develop the new energy vehicle industry, the company relies on its partner Zotye Holding Group, making the new energy vehicle industry the main business for future development and carrying out a comprehensive layout for it. Through self-development and various forms of cooperation, the company aims to build a complete industrial chain covering upstream raw materials, power lithium batteries, and downstream supporting facilities and operation services. In May of this year, the company further registered RMB 100 million to establish Hubei Shengchi New Energy Technology Co., Ltd., acquiring approximately 181 mu of land in Xiangyang High-tech Zone for the R&D and manufacturing of new energy lithium batteries, with a total project investment of nearly RMB 2.3 billion. The project is divided into three phases, with Phase I planning to build a 1.35Gwh PACK production line and a 1.5Gwh battery cell production line, supporting nearly 50,000 sets of new energy vehicle battery systems. Once completed and fully operational, it will form an annual production capacity of 400,000 sets of vehicle power battery packs, 600 million lithium battery cells, and components, with an annual output value exceeding RMB 9 billion.

Hubei Shengchi New Energy Technology Co., Ltd. is dedicated to the R&D and production of traction power cells and battery modules for electric and hybrid vehicles, motor and controller systems, battery management systems, as well as lithium-ion batteries, battery packs, and their supporting battery management systems required for energy storage power systems; software system development, and technical development and related supporting services within specialized technical fields. The company has established good cooperative relationships with Hubei University of Automotive Technology, Tianjin University, and several national new energy vehicle research institutions. We will vigorously introduce outstanding talents in the new energy vehicle power battery industry, striving to develop the company within three to five years into a professional technology enterprise nationally leading in high-power (vehicle) power cells and battery pack (packaging) technology with the largest scale, and become an internationally renowned high-tech enterprise for R&D and manufacturing of new energy vehicle cells, battery pack packaging, and motor and electronic control.