EAST stock code: 300376

State-owned capital empowers EAST to be a greater listed company

Posted at :2020-09-11 author:EASTPOWERviews:

On September 9, 2020, the cooperation signing ceremony among Guangdong Hengjian Investment Holding Co., Ltd. (hereinafter referred to as “Hengjian Holding”), Dongguan Financial Holdings Group Co., Ltd. (hereinafter referred to as “Dongguan Financial Holdings”) and East Group Co., Ltd. (hereinafter referred to as “EAST”) was grandly held in Dongguan Dongcheng International Hotel.


The theme of this signing ceremony is "Empowering With State-owned Capital, Working Together, and Creating More Brilliance". The successful holding of the event marks the official completion of Hengjian Holding's joint investment in EAST with the three-level state-owned capital of the provinces and municipalities, and EAST has officially entered the stage of joint governance of state-owned capital and private capital. At the same time, a series of state-owned empowerment plans have also been officially launched, which will promote EAST to accelerate the establishment of an industry-leading listed company and a world-renowned high-end equipment manufacturing enterprise, and contribute to the high-quality development of the “new infrastructure” industry in the Guangdong-Hong Kong-Macao Greater Bay Area. By complementing each other with advantages, all parties will work together on a multi-win basis, march forward to a new journey and build new splendor together.



Sun Yu, academician of Chinese Academy of Engineering, expert of Military Communication Technology, honorary president of EAST University; Liu Kaiwen, inspector of Guangdong Provincial Financial Supervision and Administration Bureau; Chen Zhongqiu, member of Dongguan Municipal Government Party Leadership Group; Jiang Xiaoying, deputy secretary of Dongguan Municipal Party Leadership Group, CPPCC vice chairman; Ye Shujing, deputy director of Dongguan Financial Work Bureau; Lu Gang, member of the Party Working Committee and chief economist of the Management Committee of Dongguan Songshan Lake High-tech Industrial Development Zone; Wen Wenxing, secretary of the Party Committee and Chairman of Hengjian Holding Company; Li Mingliang, deputy secretary of the Party Committee and general manager; Liao Yulin, secretary of the Party Committee and chairman of the Financial Holdings Group; Jiang Fan, deputy general manager of the Financial Holdings Group; Professor He Simo, the founder of EAST; He Jia, chairman; Chen Shuo, president and other leading guests, main persons in charge of financial institutions such as Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Agricultural Development Bank of China, Export-Import Bank of China, China Resources Bank, China Everbright Bank, China CITIC Bank, Shanghai Pudong Development Bank, Guangzhou Rural Commercial Bank, Dongguan Bank, Dongguan Rural Commercial Bank, CITIC Securities, Changjiang Securities, Huarong Securities, and leaders of Baosteel Zhanjiang Iron and Steel, China General Nuclear Power Group, Guangdong Electric Power Development Company, China Resources Group, ZTE Corporation, Mingyang Smart Energy, Jiadu Technology, etc. attended this signing ceremony and witnessed this landmark moment.


1.jpg

2.jpg


Wen Wenxing, secretary of the Party Committee and Chairman of Hengjian Holding, expressed congratulations on the smooth completion of state-owned capital investment, had a vision for EAST to become a world-class enterprise under the co-governance of state-owned capital and private capital, and made a key introduction on the next step of state-owned capital to empower EAST.


Wen Wenxing, chairman of the board, said that Hengjian Holding will make full use of the advantages of the provincial state-owned capital operation platform to implement the financial, business and strategic empowerment of EAST to build a world-class high-end power equipment brand. He stressed that based on industrial synergy and business complementarity, both sides will carry out more in-depth and diversified cooperation in a wider range and promote the realization of strategic synergy between the two sides.


3.jpg


"Hengjian Holding will fully support EAST to fully connect with Hengjian resources, promote EAST to strengthen in-depth cooperation with companies such as China Southern Power Grid, China Southern Airlines, China General Nuclear Power, China General Nuclear Power, and AVIC General Aviation, contribute to the business development of EAST in the fields of smart city, data center, 5G, energy storage, charging pile/station and rail transit, expand market share, enhance brand influence, promote the rapid and high-quality development of the overall business, and boost the high-quality development of the "new infrastructure" industry in the Greater Bay Area." Wen Wenxing said.


Liao Yulin, secretary of the Party Committee and chairman of Dongguan Financial Holdings, made a speech on the stage, expressing warm congratulations on the successful holding of the cooperation signing ceremony. He said that the tripartite cooperation among Dongguan Financial Holdings Co., Ltd. and Hengjian Holding Co., Ltd. and East Group Co., Ltd. is not only a strong combination of the advantages of provincial and municipal state-owned enterprises, but also a successful example of integrating state-owned capital, enabling enterprises and helping leading enterprises to grow stronger and bigger.


4.jpg


"We will work hard to build a new platform and new mechanism for cooperation, strive to improve the level of strategic coordination, and take this opportunity to expand cooperation in upstream and downstream industries and other fields, and effectively promote the realization of tripartite mutual benefit and multi-win." Liao Yulin said.


At the cooperation signing ceremony, Professor He Simo, founder of EAST,thanked all the leaders and guests for their presence. In his speech, he reviewed the development history of EAST in the past 30 years and shared the fruitful achievements of EAST in the field of scientific research and a series of key projects involving core technologies and products. Based on the strong technical accumulation and industrial foundation of EAST, as well as the profound strength of state-owned capital shareholders such as Hengjian Holding and Dongguan Financial Holdings, professor He Simo is full of confidence in the future development prospect of the company under the state endowment.


5.jpg


"The empowerment of three-level state-owned capital of the provinces and municipalities led by Hengjian Holding is a new starting point for EAST to become a “century-old enterprise, a century-old brand” and an important milestone in building a world-class enterprise." Professor He Simo said.


Academician Sun Yu, as a leader in the communications industry, attended the signing ceremony and expressed good wishes for the future of cooperation. As a witness of the development and expansion of EAST, he felt deeply gratified by the fact that the provincial and municipal three levels of state-owned capital platform highly value EAST, and felt the responsibility of Guangdong governments and state-owned assets at all levels to vigorously promote the development of the real economy. He encouraged all parties to jointly aim at the forefront of world power and electronics technology, concentrate superior resources, overcome difficulties and create greater value for national development and social progress.


6.jpg


"Hengjian Holding, Dongguan Financial Holdings and EAST will innovate and develop in a broader field, seize the development opportunities of “new infrastructure”, and enable each other to achieve mutual achievements." Sun Yu said.


On behalf of Mayor Xiao Yafei, Chen Zhongqiu, a member of the Dongguan Municipal Government Party Group, attended this event and congratulated Hengjian Holding, Dongguan Financial Holdings and EAST for their cooperation. He said that Hengjian Holding is the only provincial-level state-owned capital operation platform in Guangdong Province, with rich experience in the capital market and deep industrial layout. Dongguan Financial Holdings is a wholly state-owned limited liability company that fulfills the responsibilities of investor by the State-owned Assets Supervision and Administration Commission of Dongguan. With the general development idea of "finance + industry", it is committed to serving the real economy and industrial transformation and upgrading. EAST is an outstanding representative of high-tech private enterprises in Dongguan, and a key enterprise in the new infrastructure fields such as 5G, data centers, and charging piles in the Guangdong-Hong Kong-Macao Greater Bay Area. He believes that the strong and sincere cooperation of the three parties will definitely create a model for the integrated development of finance and entities, create greater value for shareholders, and contribute more to local economic development. The Dongguan Municipal Party Committee and Government will continue to work hard to create a business environment conducive to the development of enterprises and provide strong backing for investors and entrepreneurs.


7.jpg


“It is believed that under the state endowment, EAST will further enhance its core competitiveness in the field of high-end equipment manufacturing, give full play to its technological and industrial advantages, be a good practitioner of national strategy, accelerate the development of the “new infrastructure” industry and constantly improve the digital infrastructure.”Chen Zhongqiu said.


Liu Kaiwen, inspector of the Local Financial Supervision and Administration Bureau of Guangdong Province, congratulated the signing ceremony and placed high hopes on the future cooperation between the parties. He pointed out that the provincial and municipal three levels of state capital joint investment is of great significance, which is a beneficial attempt to deepen the reform of state-owned capital in Guangdong province, optimize the distribution of state-owned capital and enterprise assets allocation constantly, and improve the efficiency of state-owned capital, aiming to build a model of mixed reform in Guangdong.


8.jpg


"As the provincial enterprise group with the largest net assets and the strongest capital strength in Guangdong Province, Hengjian Holding has carried out in-depth investment layout around the strategic industries, pillar industries and emerging industries related to the overall development of Guangdong Province. The capital platform will increase EAST’s power and help it further expand and strengthen its main business. I hope that EAST will stand at a new starting point for development, continue to insist on technological innovation, and work hand in hand with state-owned assets to create greater glories!" Liu Kaiwen said.


9.jpg


Since its establishment in 1989, EAST has been adhering to its original aspiration of "Serving the country by industry and strengthening the country by industry" in the past 31 years and sticking to innovation-driven development. From an unnamed private enterprise to a joint venture company controlled by Schneider, a Fortune 500 company, to a listed company with a market value of over 20 billion and a leading industry leader, EAST has developed into a high-end equipment manufacturing enterprise empowered by state-owned assets. Relying on the core technology of power electronics, EAST has formed three business segments of smart city & Big data, smart energy and smart power, covering 5G power supply, data center, rail transit, charging piles of new energy vehicles, intelligent manufacturing, artificial intelligence and other key areas of "new infrastructure". In the past 30 years, EAST has never stopped moving forward with a positive attitude.


Thanks to the leaders from Guangdong Provincial Party Committee and provincial government, Dongguan municipal party committee and municipal government as well as Songshan Lake high-tech industrial park government for their long-term concern and support on the development of EAST. Taking the opportunity of leading and empowerment of state-owned capital shareholders such as Hengjian Holding and Dongguan Financial Holdings, EAST will keep focusing on high-end equipment manufacturing, deepen “New Infrastructure” industry, enhance core competitiveness of the company comprehensively, strive unremittingly for becoming world-renowned high-end equipment manufacturing enterprise, act more to promote high-quality development of Guangdong’s economy, contribute more on China’s transform from a large manufacturing country to an intelligent and powerful manufacturing country!




Guangdong Hengjian Investment Holding Co., Ltd.

Established in 2007, Hengjian Holding is the only Guangdong Provincial capital operation company and industry-finance integration platform. On behalf of Guangdong Provincial government, Hengjian Holding holds shares of central enterprise including China Southern Power Grid, China Southern Airlines, China General Nuclear Power Group, Shaoguan Steel Group, Zhanjiang Steel Group, China Aviation Industry General Aircraft Co., Ltd., etc. It has more than 20 wholly-owned and holding companies. As of June 30, 2020, owning total assets of 298.8 billion yuan and net assets of 175.8 billion yuan, Hengjian Holding is the provincial enterprise group with the largest net assets and the strongest capital in Guangdong Province.


Dongguan Financial Holdings Group Co., Ltd. 

Established in 2016 with registered capital 3.228 billion Yuan, Dongguan Financial Holdings is a wholly state-owned limited liability company performing investor’s duty of the State-owned Assets Supervision and Administration Commission of Dongguan City, and is a platform for the municipal government to integrate municipal financial equity. It aims to develop a financial holding group with comprehensive competitive advantages, being able to provide comprehensive services, equipping with comprehensive operation capabilities. With the general development concept of "finance + industry", Dongguan Financial Holdings focuses on promoting the integration and coordinated development of local financial resources, improving the local financial industry chain, and effectively serving the real economy and industrial transformation and upgrading. 


East Group Co., Ltd. 

Set up in 1989, EAST focusing on R & D and application of power & electronics technology, with main business covering 3 strategic industries as smart power supply (5G power supply, rail transit power supply, intelligent power supply and distribution, unique power supply), smart energy (PV power generation, energy storage, EV charging piles, micro-grid), smart city (cloud computing/edge computing data center, IT infrastructure). EAST focus on the national “New Infrastructure” strategic deployment, provide global users with high-quality smart city & big data and smart energy comprehensive solutions.





 
Online Support