Hengtong Guochong helps Jiangxi Province's new energy industry layout and development

On July 18, 2019, Jiangxi Guogan Yingke New Energy Co., Ltd. was officially established by Hengtong Optics (600487) holding Guochong Charging Technology Jiangsu Co., Ltd., Jiangxi Provincial Investment Group Jiangxi Ganneng Co., Ltd. (000899), Jiangxi Sampan Lei Technology Co., Ltd., and Shenzhen Zhongying New Energy Co., Ltd. The company will be committed to providing electric vehicle charging station construction and operation services for Jiangxi Province. It is expected that by the end of 2020, Guogan Yingke New Energy will have invested more than 300 million yuan in charging operation stations in Jiangxi Province.

Ms. Xu Yu, the company's director and general manager, said: "The establishment of Guogan Yingke New Energy Company is in line with the requirements for the optimization and upgrading of the national new energy industry. The establishment of the joint venture is the result of strategic cooperation between Guochong Charging and Jiangxi Ganneng, Jiangxi Sampanlei, and Shenzhen Zhongying New Energy after consultation. The parties conduct commercial cooperation on the basis of mutual benefit, which is in line with the national industrial policy trend and the society's demand for low-carbon, environmentally friendly, energy-saving and efficient new energy industries. The joint venture will integrate the technology, resources and management advantages of all shareholders, focus on the field of new energy charging, and promote the construction of a smart transportation ecological network. At the same time, it will utilize the extensive resources of all parties in the field of comprehensive energy to continuously explore investment opportunities for Hengtong in the development of comprehensive energy in Jiangxi."

Through the establishment of the joint venture, the upstream and downstream industrial chains of Jiangxi's power production will be greatly expanded, and various resources of all parties involved in the investment will be used to carry out in-depth cooperation, achieve complementary advantages, accelerate the pace of new energy development, and help the layout and development of the new energy industry. The company will actively seize opportunities in the electrification process of commercial vehicles such as public transportation, taxis, logistics, and heavy freight, coordinate with partners to promote the concept of big environmental protection and big energy, adhere to the localized collaboration model, and firmly implement the overall investment concept of integrating vehicles, charging piles, networks, and energy.

As one of the important joint venture partners, Guochong Charging Technology Jiangsu Co., Ltd. is a holding subsidiary of Hengtong Group, a Fortune 500 company in China. The company has cooperated with BYD in 2005 to provide it with electric vehicle supporting services; in 2010, it launched high-power charging equipment to provide super charging services for the Shanghai World Expo. At present, it has 33 subsidiaries in 28 provinces and cities across the country, with more than 300 large and medium-sized charging stations built, and the daily charging capacity exceeds 1 million degrees. The company is a comprehensive charging solution operator integrating R&D, production, construction and operation. With good product quality and service concept, the company has been rated as the top three charging brand influencers for three consecutive years from 2017 to 2019.