Public Transportation announced on the evening of June 25 that the general manager's office meeting decided that the company and its wholly-owned subsidiary Shanghai Volkswagen Building Co., Ltd. intend to invest 80 million yuan and 50 million yuan respectively with its own funds, and invest a total of 130 million yuan to set up Shanghai. Qingpu Volkswagen Microfinance Co., Ltd.
The registered capital of the small loan company is 200 million yuan. In addition to the above-mentioned shareholders, Ketai Power, which is mainly engaged in the development, design and manufacture of new energy and diesel generator sets, has invested 40 million yuan, accounting for 20%; Shanghai Yuesheng Real Estate Development Co., Ltd. invested 30 million yuan, accounting for 15%. According to the announcement issued by Ketai Power last night, Ketai Power invested in its over-raised funds. In addition, in order to effectively control the microfinance company and control the risk of foreign investment, Ketai Power intends to appoint a vice president and financial controller Cheng Changfeng as a director of the microfinance company.
According to Public Transportation, this investment will help to further implement the company's development strategy, enhance the company's brand value and influence; help optimize the company's financial asset structure and improve the efficiency of capital use. However, this investment has not yet been approved by the Financial Office of Qingpu District, Shanghai, and has not yet signed an investment contract with other investors.
Public Transportation is the largest integrated transportation service provider in Shanghai, with market and brand advantages in the transportation service sector. Ketai Power has advantages in the development and design of new energy and diesel generator system integration. The two companies jointly invested in setting up a small loan company, which can optimize the structure of financial assets and improve the efficiency of capital use. On the other hand, it will help establish long-term cooperative relations between the two and jointly expand the market space of new energy vehicles in Shanghai.
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