On November 23, 2011, the celebration ceremony for the establishment of Dichai Power Co., Ltd. , jointly funded by Dongfeng Chaochai Company , Shanghai Ruru Enterprise Development Co., Ltd., Shanghai Fangyuan Investment Co., Ltd. and Shanghai Zhiyi Business Service Co., Ltd., was held. . This is a major event for Chaochai Company to implement restructuring and achieve strategic development. It is also an important milestone in the development history of Chaochai Company and marks the birth of a new, more dynamic, market-oriented innovation Fuchao Chaochai.

Chaochai Power Co., Ltd. established ceremony

Dong Zhong, Deputy Secretary of the Party Committee of Dongfeng Motor Corporation and Fan Zhong, Chairman of Chaochai Power Company, introduced the establishment process of “Dongfeng Chaochai Power Co., Ltd.” and pointed out that the company has developed into an industrial diesel field after 50 years of hardships and rains. One of the important companies. In order to comply with the fierce market competition situation, Chaochai Company has completed the relevant restructuring work in accordance with the spirit of the 17th National Congress of the Communist Party of China and the requirements of the SASAC of the State Council. The restructuring has received the attention and support of Dongfeng Company and Chaoyang Municipal Party Committee and Municipal Government. It has been understood and approved by the employees. In particular, the strong support of the other three investors provided material guarantee and spiritual motivation for the establishment of Chaochai Power Co., Ltd. . The newly established Chaochai Power will continue to consolidate and expand the light vehicle diesel engine market while planning a new development strategy, strive to achieve the simultaneous growth of the market and benefits in the shortest time, and make a significant contribution to the economic development of Chaoyang City.

Liu Ting, chairman of Shanghai Fangyuan and the company, said that Chaochai is a technology, capital, and talent-intensive company. The staff has a 50-year history of glorious struggle and has rich experience in diesel engine R&D, manufacturing, and sales. Unique simplicity and hard work, but also has the support and care of the Chaoyang Municipal Party Committee and the municipal government, this is the advantage of Chaochao's unparalleled soft environment. Despite the decline in business performance of Chaochai Company due to the impact of market conditions this year, we firmly believe that Daw Chai is a worthy investment company. If we can further change the mechanism, Chaochai will certainly be able to form a stronger competitive strength. In the future development of Chai Power Company, it will be able to take advantage of the diversification of equity institutions, accelerate technological innovation, adapt to changes in the market, and create better economic benefits centered on the strategic objectives of the company's development.

Zhu Fushou, general manager of Dongfeng Motor Corporation, expressed his gratitude to all the people with lofty ideals who participated in the restructuring of Dongchai at the ceremony. Zhu Fushou general manager said that our restructuring is only a means, not a goal, which requires the operators to make this change as a turning point, seize the opportunity, tap potential, reserve capacity to respond to complex markets, and promote the DPRK power Develop better and faster. At the same time, it is necessary to resolve the change in the identity of employees in the process of restructuring, and to complete the transfer and resettlement of retired employees, and to complete the final goal of restructuring. General Manager Zhu Fushou stated that Dongfeng Corporation's promotion of the restructuring of Chaochai Company was not a rejection of the burden, but that it hoped to open up a new environment and atmosphere for the development of Chaochai through the innovation of the system. Dongfeng Corporation promoted the development of Chaochai. The thinking will not change. It is hoped that all operators and employees will cherish opportunities and, through their own efforts, create a new DPRK in the next few years.

Zhu Fushou, General Manager of Dongfeng Motor Company

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