HONG KONG, Sept 23, 2014 - (ACN Newswire) - China Dynamics (Holdings) Limited ("China Dynamics" or the "Group") (Stock Code: 476), a company proactively expanding its business into the new energy industry, is pleased that the State-owned enterprise ("Beijing Motor City") has further increased its shareholdings to 5.21% of issued share capital of China Dynamics.
Beijing Motor City is under the supervision of the State-owned Assets Supervision and Administration Commission of Shunyi District, Beijing and is responsible for the development and management of the automotive manufacturing base in Beijing. In April 2014, China Dynamics entered into a Joint Venture (JV) Agreement with a wholly-owned subsidiary of Beijing Motor City, to engage in the research, development and manufacture of lithium polymer batteries systems and control systems for electric vehicles. The JV Company is well-positioned to seize the opportunities from the subsidies provided to environmentally-friendly industries and electric vehicles by many provinces and cities in the PRC.
Strategic Financial Relations Limited
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Sadie Lam Tel: 2864 4861 Email: [email protected]
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Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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