According to reports, FAW Car announced that it will increase its capital to buy shares in Mobai. After this capital increase, FAW Car will own a 10% stake in Mobai. This article will be accompanied by a notice of the agreement between FAW Car and Mobai.
On the evening of January 7, FAW Car announced the announcement. On January 6, 2018, the company signed a strategic cooperation agreement with Gui'an New Area Mobai Travel Technology Co., Ltd., and FAW Car intends to increase capital and purchase shares in Mobai.
The agreement shows that after the capital increase, FAW Car holds a 10% stake in Mobai. As a provider and manufacturer of Mobai mobile travel products, FAW Car cooperates with Mobike's vehicle sales, R&D, and vehicle sales in the customized service field. Mobai Travel and FAW Car share the relevant operational resources, operating models, customer data and other related resources in the mobile travel field.
As the market and related policies change, the future performance of this agreement is uncertain.
The signing of the agreement is only a strategic cooperation agreement for cooperation between the two parties, and there are uncertainties in the specific implementation content and progress.
This agreement is not expected to have a significant impact on the company's 2018 operating results and financial position.
First, the agreement signedOn January 6, 2018, FAW Car Co., Ltd. (hereinafter referred to as "the company") signed a "Strategic Cooperation Agreement" with the Gui'an New District Management Committee. According to the above-mentioned strategic cooperation agreement, the company signed a Strategic Cooperation Agreement (hereinafter referred to as “this agreementâ€) with Gui'an New District Mobai Travel Technology Co., Ltd. (hereinafter referred to as “Mobai Travelâ€).
Second, the parties to the agreementName of Unit: Gui'an New District Mobai Travel Technology Co., Ltd.
Legal representative: Xia Yiping
Registered capital: 20 million
Main business: software technology development, technology transfer, technical consultation, technology import and export; rental of automobiles and new energy vehicles; spare parts for automobiles and new energy vehicles, import, wholesale, assembly and warehousing of communications and electronic equipment; Maintenance and after-sales service of electronic equipment; business consulting services; technology development, technology transfer, technical consultation and technology promotion of system integration engineering; technical services and computer technology consulting services; design, production, agency, advertising; sales: clothing, shoes Hats, daily necessities, stationery, sporting goods, toys, electronic products.
Registered address: South Park of High-end Equipment Manufacturing Industrial Park, Gui'an New District
Relationship with the company: there is no relationship
Third, the main content of the agreementParty A: Gui'an New District Mobai Travel Technology Co., Ltd.
Party B: FAW Car Co., Ltd.
(1) Background of cooperation
Gui'an New Area Mobai Travel Technology Co., Ltd. is a technology company integrating software technology development, technical consultation, new energy leasing and travel services.
FAW Car Co., Ltd. is a holding subsidiary of China First Automobile Group Co., Ltd. and is one of the major enterprises for FAW Group to develop its own brand passenger cars. The company's main business is the development, manufacture and sale of passenger cars and their accessories.
The future is the era of travel-led, FAW Car and Mobai travel together to seize the major opportunities for the transformation and upgrading of the automotive industry, from the technological innovation, policies and regulations, industry standards, big data applications and other multi-dimensional cooperation to seize the future travel industry strategy Commanding heights.
The two parties have agreed in accordance with the "Contract Law of the People's Republic of China" and relevant laws and regulations, and adhered to the principles of equality, voluntariness, fairness and integrity. After full consultation between the two sides, a strategic cooperation agreement was reached on relevant matters.
(II) Project cooperation content
1. FAW Car intends to increase capital and invest in Mobai. After the capital increase, FAW Car holds a 10% equity interest in Mobai, and exercises shareholder rights and obligations in accordance with the corresponding equity ratio.
2. FAW Car, as a provider and manufacturer of Mobai mobile travel products, cooperates with Mobha Travel in vehicle sales, R&D, and vehicle sales in the field of customized services.
3. Mobai Travel and FAW Car share the relevant operational resources, operation mode, customer data and other related resources in the mobile travel field.
4. Mobai Travel shares other advantageous resources with FAW Car, including but not limited to financial services, after-sales network and other related strategic resources.
(3) Responsibilities and obligations
1. Party A's responsibilities and obligations
(1) Designate a special person to provide docking services for the project.
(2) Actively assist Party B in project due diligence, audit, evaluation and filing. After Party B has completed the procedures for capital increase, Party A shall complete the procedures for industrial and commercial registration and tax registration in accordance with the actual capital contribution of Party B.
(3) Sign the letter of intent for reinvestment with Party B, and coordinate and solve related problems during the project landing process to ensure the smooth implementation of the project.
(4) If the cooperation content of the above project changes, Party B shall be notified at the first time.
2. Party B's responsibilities and obligations
(1) Increase the capital contribution according to the prescribed time and method.
(2) Conduct relevant approval procedures such as legal affairs, financial due diligence, audit, asset evaluation and filing in accordance with the relevant regulations on state-owned assets.
(3) Provide all the documents and certificates required for the procedures for replenishing capital in a timely manner, and provide various services and facilities for the capital increase of Party A.
(4) After Party B has fulfilled the procedures for capital increase, it shall enjoy other rights that the investor shall have in accordance with the law and the company's articles of association.
(4) Conditions for the entry into force of the agreement and liability for breach of contract
1. This Agreement shall become effective after it has been signed by the legal representatives or authorized representatives of both parties and affixed with the official seal.
2. When Party A breaches the contract or causes Party B to lose, Party B is entitled to Party A's compensation or compensation. In the process of capital increase, Party B shall be liable to Party A for compensation caused by Party B’s negligence. Both parties must strictly abide by the provisions of this agreement. If one party fails to perform the agreement or does not fully perform the agreement, the other party has the right to ask the other party to take remedial measures or investigate the other party's liability for breach of contract.
Fourth, the impact of the agreement on listed companiesThe cooperation between the company and Mobai is beneficial to the company's development in the new field of mobile travel, seize the major opportunities for the transformation and upgrading of the automotive industry, seize the strategic commanding heights of the future travel industry, and enhance the company's sustainable development capabilities. The signing of this agreement is not expected to have a significant impact on the company's 2018 operating results and financial position.
Five, risk tips
1. With the changes in the market and related policies, the future performance of this agreement is uncertain.
2. The signing of the agreement is only a strategic cooperation agreement for cooperation between the two parties. There is uncertainty in the specific implementation content and progress.
VI. Review procedures of the agreementThis agreement is a strategic agreement and does not need to be submitted to the board of directors or shareholders meeting for consideration. The company will fulfill its corresponding decision-making procedures and information disclosure obligations in accordance with the specific conditions of cooperation and in accordance with the provisions and requirements of the Shenzhen Stock Exchange Listing Rules and the Articles of Association.
Investors are advised to pay attention to investment risks.
Special announcement.
FAW Car Co., Ltd.
Board of Directors
January 8, 2018
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