TU-TESL

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Recently, the first batch of overseas export vehicles of Baoneng automobile import and export company were sold to Iraq from Changshu base. It is reported that this export is a breakthrough for Guanzhi automobile to achieve overseas business relying on Baoneng group resources. "Guanzhi completed its first overseas export business" it is reported that Guanzhi automobile is working with its parent company Baoneng group to promote "international" business. At present, Baoneng automobile import and export company has completed the investigation of several regional markets such as Asia, the Middle East, Africa, Eastern Europe and central and South America. In November this year, Baoneng automobile import and export company signed a cooperation agreement with sunnyar motor, a Middle East Regional Automobile Dealer group. According to the announcement issued by Kenon holdings, the foreign parent company of Guanzhi automobile in January 2018, Baoneng Group acquired 51% of the shares of Guanzhi automobile with 6.63 billion yuan, becoming the controlling shareholder of Guanzhi automobile. In January 2019, Kenon holdings announced again that its 12% stake in Guanzhi was also transferred to Baoneng group. That is to say, at present, Baoneng group holds 63% equity of Guanzhi automobile. Since Guanzhi automobile realized its holding of Guanzhi automobile, Baoneng group has carried out various reforms on Guanzhi automobile. At the end of February this year, Baoneng group introduced a Japanese executive team mainly composed of Yadao, global new energy director of Nissan Renault alliance, and Yano, male, to change the development dilemma of Guanzhi automobile. But up to now, the situation of Guanzhi automobile has not improved significantly. "Guanzhi 5" according to the sales data released by the passenger Federation, in the first 10 months of this year, the cumulative sales volume of Guanzhi vehicles was 19261, down 64.3% year on year. In the future, it remains to be seen whether Guanzhi automobile can turn around the current situation with its export business.