·Great Wall Huaguan: Acquisition of 60% of the shares of Zhouqing

Beijing Great Wall Huaguan Automotive Technology Co., Ltd. (hereinafter referred to as “Great Wall Huaguan”) announced: “The company acquired Qingdao Xiangqing Industrial Design Co., Ltd. (hereinafter referred to as 'Zhouqing Company'), a leading enterprise in the domestic automobile industry design with 38 million yuan. 60% of the shares.” The acquisition is the first industry merger and acquisition of Great Wall Huaguan, which means that the layout of the new energy automobile industry chain with Great Wall Huaguan as its core competitiveness has gradually started.
Founded in 2000, Zhouqing is the earliest professional company engaged in the innovative design, engineering structure design and model making of transportation products. When the company was founded, the independent design of China's domestic auto industry was still blank. The design and model making of automotive engineering were also very primitive, and the demand for refined professional automotive industry was urgent. These provide a good premise and opportunity for Zhou Qing to successfully obtain the market.
The core design team of the early Zhou Dynasty came from Taiwan, which has a good car design foundation. For many years, it has provided services to Japanese leading automakers including Toyota and Honda. At the same time, it has deep cooperation with Tokyo R&D Co., Ltd., the largest listed automotive design consultancy in Japan, and Japan's most professional automotive design and development and model manufacturing. All of these have enabled Zhou Qing to build the entire process of designing and producing high-quality verification models according to the standards of Japanese fine manufacturing.
With outstanding design, high-precision technology, strict process and fine management, Zhou Qing quickly accumulated brand and reputation in China. After years of deep cultivation, we have gradually expanded a large number of high-quality local customers and formed a stable supply and demand relationship. Its customer list includes: Honda, Toyota, Nissan, Mazda, Suzuki, FAW Group, Tianjin FAW, Changan Group, BAIC Group, FAW-Volkswagen, Foton Motor and other well-known domestic and foreign companies.
The acquisition of Zhou Qing by Great Wall Huaguan has been brewing for a long time.
“We and Qiuqing know each other because of their business relationship, and they recognize each other because of the common quality and design requirements. In the past fifteen years, we have maintained very good communication and interaction, the direction of the future industry, and the enterprise. Planning, there are also many consensuses.” In the acquisition of Zhou Qing, Lu Qun, chairman of Great Wall Huaguan, put the common philosophy and development goals in the first place.
Beginning in 2015, Great Wall Huaguan started from the traditional design business and upgraded its industrial model with the design as the axis. After more than one year of capital and industrial chain layout, it has a very good foundation and situation. This is undoubtedly a good development space for companies like Zhou Qing, which also design as the core DNA.
“In the past year, many design companies have found us and hope to form a joint force through joint venture acquisitions. We have been very cautious about this because in our view, there is no organic integration, the concept is more effective than the actual effect, Great waste. Organic integration must be based on the effective docking of business, the efficient complementarity of resources, and the coordinated action. The acquisition of Zhou Qing is because we have the confidence to form organic integration, achieving an effect of 1 plus 1 greater than 2. "The Great Wall Huaguan Chairman Lu Qun is full of confidence in the future cooperation between the two sides.
After the completion of the acquisition, the two parties will fully share their high-quality resources and actively explore new business opportunities while maintaining their own brand independence:
On the one hand, Huaguan will provide an opportunity for Zeqing to expand its industrial chain, enabling it to provide a full-process automotive industry design service from product definition to engineering prototype production. At the same time, Zhou Qing will also give full play to the refined model production and overseas high-end design channel resources, and provide useful help for Huaguan's existing design business lean.
In addition, the “prospective car” of the wholly-owned sub-brand of Great Wall Huaguan will also become an important opportunity for cooperation between the two parties. Zhou Qing can provide prototype car service for the future series of "Prospective Cars", and can also rely on the concept of "prospective car" to open the car to obtain a huge space for rapid growth of future business. In the future, both parties will jointly enter the new automobile market including modified vehicles and personalized customization, and work together to form a more complete industrial chain layout.

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