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Sep 23, 2014 20:00 JST

Source: China Dynamics (Holdings) Limited

Beijing Motor City Further Increases Shareholdings of China Dynamics

HONG KONG, Sep 23, 2014 - (ACN Newswire) - China Dynamics (Holdings) Limited ("China Dynamics" or the "Group") (Stock Code: 476), a company proactively expanding its business into the new energy industry, is pleased that the State-owned enterprise ("Beijing Motor City") has further increased its shareholdings to 5.21% of issued share capital of China Dynamics.

Beijing Motor City is under the supervision of the State-owned Assets Supervision and Administration Commission of Shunyi District, Beijing and is responsible for the development and management of the automotive manufacturing base in Beijing. In April 2014, China Dynamics entered into a Joint Venture (JV) Agreement with a wholly-owned subsidiary of Beijing Motor City, to engage in the research, development and manufacture of lithium polymer batteries systems and control systems for electric vehicles. The JV Company is well-positioned to seize the opportunities from the subsidies provided to environmentally-friendly industries and electric vehicles by many provinces and cities in the PRC.

Contact:
Strategic Financial Relations Limited
Vicky Lee       Tel: 2864 4834    Email: vicky.lee@sprg.com.hk
Angela Ng       Tel: 2864 4855    Email: angela.ng@sprg.com.hk
Sadie Lam       Tel: 2864 4861    Email: sadie.lam@sprg.com.hk
Fax: 2527 1196
Website: www.sprg.com.hk
Source: China Dynamics (Holdings) Limited
Sectors: Daily Finance, Daily News

Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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