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Dongguan New Energy Vehicle Industry Technology Association, which was initiated by nine enterprises and research institutes including East Power and Western Resources, was founded on 8th July. It symbolizes that the new energy vehicle has become the new grounds for some listed enterprises striving for a transition.
According to sources, the industry transition has become a new highlight and the government strongly supports the development of hi-tech industries. Under such a trend, photovoltaic enterprises such as East Power begin to enter into the new energy vehicle industry. Though a great sales volume has been achieved since the first quarter of 2014, the profit growth increases relatively slowly. The path of transition naturally becomes a new profit growth point.
Western Resources takes huge steps in the path of transition. In April 2014, it has raised 3.618 billion yuan through the non-public offering shares to acquire the stakes of four new energy companies in the automobile industry chain and supplement the circulating funds, thus completed its strategic layout in the new energy automobile industry.
For its good performances, the new energy vehicles such as the electric vehicles and the fuel cell electric vehicles have actually become the trend and focus of the international automobile industry. It also becomes a new target for the listed companies striving for restructuring as well as upgrading. Since the first half of 2014, eight listed companies have raised 8.589 billion yuan through non-public offering as well as rights offering to fund the power battery industries including such companies as BYD which is the leading enterprise in the industry and Zhonghe Group which is a new comer to the industry.