New Energy Vehicle Industry Development (Chongqing) Co., Ltd (“NEVID) is an industry-cluster platform committed in motivating and promoting the development of new energy vehicle industry. As new energy vehicle industry being elevated as the national strategy, NEVID is well-designed by Chongqing municipal government and concretely planned by Liangjiang New Area Administrative Committee.

NEVID was jointly established by Chongqing Liangjiang Development and Investment Group, Lifan Holding Group and Sokon Industry Group (China’s two leading listed companies of vehicle manufacture). As of September 22, 2015, Mr. WengJieming and Mr. Ling Yueming, members of standing committee of CPC Chongqing municipal committee witnessed the inauguration of NEVID. The initial registered capital of the company was 100 million RMB.NEVID was founded with the vision “fulfill the mission while retaining aspiration. Born in Chongqing with an eye for the entire nations, we are committed to building up an industry investment and financial leasing platform focusing on the new energy vehicle sector. Along with the vision, NEVID will be anticipated to facilitate Chongqing becoming the leading industry zone of new energy vehicle in China.

NEVID mainly engages in the development, investment and management of new energy vehicle industry projects. It also involves in research, application and technology transfer of new energy vehicle technology. It also lays emphasis on the key elements of new energy vehicle industry’s upstream and downstream chain businesses, incubating high-quality portfolio with high growth. An even maturely developed ecosystem of new energy vehicle will be built through the equity investment. At the meantime, Chongqing New Energy Vehicle Financial Leasing company(“NEVFL), with registered capital of 400 million RMB, is established to better adapt the development of clean technology industry. By taking advantage of credit facility and other diversified and structured financial product in nature, through business model innovation and leased asset transactions, the company is anticipated to provide low-cost funding and high value-added service, boost industrial development, optimization and upgrading of industrial structure.

We have made the record of closing the largest volume of new energy vehicle financial leasing in China, up to the amount of 5054 EV in equivalence of 40 million RMB, within the last three month of 2015. Strategic cooperation agreements of credit facility, up to 20 billion RMB, have been entered into among the company and other leading financial institutions including CCB, CMBC, BOC and Bank of Chongqing. Additionally, NEVFL has reached a cooperation agreement with Qingdao TELD new energy co., Ltd. We will jointly invest 100 million RMB to establish a joint venture, which is committed to providing the new energy vehicle infrastructure solution to promote a healthy and orderly development of new energy vehicle industry with a proper pace by facility construction, installation, layout and operation.

At the meantime, NEVID is also partner with relevant governmental authorities to work on the reform of government vehicle reform and public transportation reform, including bus and taxi, by adopting new energy vehicle. The company will also take advantage of the benefits of Sino-Singapore Strategic Connectivity Demonstration Initiative by bringing offshore low-cost fund to provide domestic and overseas clients with better and competitive service. A specialized new energy vehicle fund will be expected to set up together with prospective limited partners including the governmental FOF and pension fund. With the philosophy of industrial vertical integration and cluster effect, the fund will be functioned to not only in equity investment, but also introducing talents, bringing in modern corporate governance, providing comprehensively value-added service in terms of marketization, professionalism and scale to promote the development of the substantial economy.