HONG KONG, Aug 21 (Bernama-BUSINESS WIRE) — Guotai Junan International Holdings Limited (“Guotai Junan International”, together with its subsidiaries as the “Group” or the “GTJAI”, stock code:1788.HK) announced that the Group will join hands with NIO Inc. (“NIO”), Contemporary Amperex Technology Co., Limited (“CATL”) and Hubei Science Technology Investment Group Co., Ltd., (“HBSTI”) to collaboratively boost the innovation and development of New Energy Vehicle Battery, proactively responding to the national policy of supporting real economy by finance. Meanwhile, the companies will support Wuhan Weineng Battery Asset Co., Ltd (“Weineng”), dedicating to jointly promoting the development of “Car-and-Battery Separation” in the new energy vehicle industry and supporting Weineng to launch BaaS (Battery as a Service) products.
As a first-round participant of the project, GTJAI said: “New energy vehicle industry’s development is greatly supported by the government’s major policies. As the increase of proportion of the new energy vehicle models with separate car and battery in the future, Weineng is facing a blue ocean opportunity. In recent years, the Group has been actively reviewed its development strategy in which sound and stronger foundations were required for further breakthrough and development. Despite the negative impact of COVID-19 pandemic on global operating environment and economic growth in the first half of 2020, the Group has achieved substantial improvement in financial position and balance sheet. Driven by Technology and Innovation Industry, China’s economy has experienced a rapid and steady expansion. The participation in this project of GTJAI is a solid implementation supporting national policies of supporting real economy by finance and promoting the continuous and healthy development of new energy vehicle industry. The Group is expecting to provide more diversified products for its clients through active engagement in quality and rare projects, boost the development of corporate finance and wealth management business and synergy between business lines over mid-to-long-term.