The newspaper (Reporter Yin Wei) further details the preparations for Beijing Automotive Co., Ltd. (“Beiqi”). On the evening of the 21st, Shougang Co., Ltd. (000959) announced that it intends to invest in Beiqi Investment’s 23.62% stake (a price of 1.678 billion yuan) and 271 million yuan in cash to invest in Beiqi Co., Ltd. It is expected that the shareholding ratio will be 18.31%, becoming the Beijing Automotive Co., Ltd. The second largest shareholder.

The announcement also disclosed that Beiqi Co., Ltd. will be initiated jointly by Beiqi Investment's existing five shareholders and the Beijing State-Owned Capital Management Center, with a registered capital of RMB 5 billion and a total amount of RMB 10.643 billion contributed by the promoters, of which BAIC Holdings holds 51%. The total investment amounted to 5.427 billion yuan, including cash of 1.317 billion yuan and the physical assets contributed by the BAIC Passenger Cars Division: the carrying amount was 3,1985.2 million yuan.

This means Beiqi Co., Ltd. will be established soon and the listing platform has been initially established. According to the disclosure, Beiqi Co., Ltd. intends to apply for public offering of shares and listing when conditions are ripe.

It is reported that the Beijing Auto Holding’s investment form includes its 51% stake held by BAIC, 100% equity of New Energy Company, and 100% equity of powertrain company, as well as Beijing Modern’s equity held by BAIC Investment. , as well as the physical assets of the passenger car division. However, Beijing Automotive’s 50% stake in Beijing Benz was not included.

For the preparation of the company's establishment and the progress of listing, the relevant person in charge of the Beiqi Holdings Public Relations Department stated that at present the company has not yet been established, but the preparations in all aspects are progressing smoothly. However, the establishment of a joint-stock company is only the first step, and the public listing of stocks can be officially launched in the short term.