On September 14, 2011, Weichai Power disclosed the actual controller Shandong Heavy Industry Group Co., Ltd. to further avoid the relevant commitments of the industry competition. Weichai Power received a letter from the first major shareholder Weichai Holding Group Co., Ltd. on September 13, 2011, claiming that Weichai (Yangzhou) Yaxing Automobile Co., Ltd., a subsidiary of Weichai Group, acquired Jiangsu Yaxing Automobile Group Co., Ltd. During the review of the 112 million shares of state-owned shares of Yangzhou Yaxing Bus Co., Ltd., according to the requirements of the China Securities Regulatory Commission, Shandong Heavy Industry Group Co., Ltd. (affiliated to Shandong Provincial SASAC, holding 100% equity of Weichai Group) made “About Avoiding Peers Description of competition.
Shandong Heavy Industries Co., Ltd. promised to strengthen the main business of Weichai Power, strengthen the independence of listed companies, and avoid potential future business competition between its joint ventures, Weichai Deutz Diesel and Weichai Power, according to Shandong Heavy Industry. The development of strategic planning and industrial layout will determine Weichai Power as the sole platform for Shandong Heavy Industry's future business operations and integration of automotive and construction machinery engines.
Weichai Deutz Co., Ltd. is a 50-50 joint venture company invested by Weichai Group and the Federal Republic of Germany Deutz. Weichai Deutz develops, produces and sells 226B series diesel engines and their components. According to public information, Weichai Power and its subsidiaries and Weichai Deutz signed an agreement on August 23, 2010, in which Weichai Power and its subsidiaries procure diesel engine parts and related products from Weichai Deutz. The related transaction limits for 2011 to 2013 were 63 million yuan, 78 million yuan and 100 million yuan respectively. The two parties also signed an agreement to sell diesel engine parts and related products to Weichai Deutz by Weichai Power and its subsidiaries. It is predicted that the related transaction caps for 2011 to 2013 will be 166 million yuan, 230 million yuan, and 315 million yuan respectively. . Weichai Power also provides agency sales and maintenance services to Weichai Deutz. It is estimated that the related transaction caps for 2011 to 2013 will be 40 million yuan, 47 million yuan and 54 million yuan respectively. The above three agreements are valid until December 2013. 31st.
Shandong Heavy Industry Co., Ltd. expressed that it would urge Weichai Group to set up a special working group and actively communicate with Germany's Deutz and Weichai to negotiate to further avoid the possible reorganization and integration of potential business competition between Weichai Deutz and Weichai Power in the future. Program.
During the above-mentioned reorganization and integration, Shandong Heavy Industry has pledged not to use the Weichai power control relationship to engage in activities that impair the interests of listed companies and their shareholders, and to take necessary and possible measures in accordance with the law to avoid Shandong Heavy Industries and Weichai Deutz and Weichai Power. Businesses or activities that have competition and conflicts of interest between the main business.
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