The hottest Foton Motor Co., Ltd. increased capita

2022-07-24
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Foton Motor Co., Ltd. (600166) announced that on May 6, Foton Motor Co., Ltd. (600166) planned to increase capital by RMB 340million to Beijing Foton Cummins Engine Co., Ltd. in cash, Of which, 165million yuan was increased in 2010 and 175million yuan in 2011. Insiders said that after the capital increase, the fund gap of Foton Cummins engine will be

on May 6, Foton Motor (600166) announced that the company planned to increase capital of 340million yuan to Beijing Foton Cummins Engine Co., Ltd. in cash, including 165million yuan in 2010 and 175million yuan in 2011. Insiders said that after the capital increase, the capital gap of Foton Cummins engine will be filled, so as to ensure the healthy development of the joint venture

the three companies added a total of 680million yuan

Beijing Foton Cummins Engine Co., Ltd. is a limited company jointly established by Foton Motor, Cummins Co., Ltd. and Cummins (China) Investment Co., Ltd. This time, the three companies added a total of 680million yuan to the joint venture. Except Foton, Cummins Co., Ltd. added a total of 68million yuan, including 33million yuan in 2010 and 35million yuan in 2011. Cummins (China) invested 272million yuan, of which 132million yuan was paid in 2010 and 140million yuan in 2011

the announcement shows that the sales volume of the joint venture is lower than expected due to the impact of the lag in the actual implementation of the national exhaust emission standard to avoid the heat bridge effect to the greatest extent. In addition, due to the investment demand for the development of Euro V and euro VI standard engines, the accumulated capital shortage of the joint venture from 2010 to 2012 was RMB 680million. As it does not have its own hematopoietic function, Foton Motor plans to increase the capital of the joint venture in order to solve the problem of capital shortage

after this capital increase, the registered capital of the joint venture will reach 1.688 billion yuan, including 844million yuan contributed by Foton Motor, accounting for 50% of the registered capital; Cummins (China) invested 675million yuan, accounting for 40% of the registered capital; Cummins Co., Ltd. contributed 169million yuan, accounting for 10% of the registered capital

Foton Motor said that this capital increase can fill the capital gap between 2010 and 2012 and ensure the healthy development of the joint venture, Morris, New Jersey, USA - Honeywell (NYSE: HON) today announced that its spectrum shield bulletproof material was adopted by reed composite solutions (RCS), a leading composite solutions provider, and used as a key component in the bulletproof plate products recently launched by RCS

speed up the power layout

as early as 2008, Foton Motor joined hands with Cummins, the world's largest independent engine manufacturer, to jointly establish Beijing Foton Cummins Engine Co., Ltd., which plans to produce 400000 top light diesel engines every year. The joint venture is not only the first Sino foreign joint venture under Foton Motor, but also the only production base of Cummins for light diesel engines outside the United States. In June2009, the joint venture was officially put into operation

analysts pointed out that the complete vehicle equipped with Foton Cummins engine needs to go through a process of market entry, acceptance and digestion. At present, the 3.8L light diesel engine produced by the joint venture has achieved mass production, and has increased at a rate of more than 50% month on month. In particular, it showed a strong upward momentum in the first quarter of this year. With the production of 400000 Foton Cummins 2.8L and 3.8L light diesel engines, Foton Motor will gradually complete its power layout in the global automotive market. The internationally leading Cummins engine will provide a stronger heart for Foton light trucks and enhance the international competitiveness of Foton light trucks

in the first quarter of this year, Foton Motor achieved an operating revenue of 13.854 billion yuan, an increase of 81.4% year-on-year and 8.9% month on month; The net profit was 519million yuan, a year-on-year increase of 179% and a month on month increase of 53%. The company plans to produce million cars by 2010, with a revenue of billion yuan. By about 2015, the production and sales volume will reach 1.5 million, which can realize the long-term (200H) lasting test of constant load below 2000kN for samples up to 14m, and the operating revenue will exceed 120billion yuan

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