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Old 12-09-2010, 08:02 PM   #7
Chrislin
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Join Date: Jun 2010
Location: China
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Default Re: Guangzhou and Gonow sign JV deal

Guangzhou Automobile Group Co., Ltd. (hereinafter "GAC") is integrally converted into a joint stock company from the former limited liability company on June 28th, 2005. It was initiated by Guangzhou Automobile Industry Group Co., Ltd., Wanxiang Group Corporation, China National Machinery Industry Corporation, Guangzhou Iron & Steel Enterprises Group and Guangzhou Chime-Long Hotel Co., Ltd.
GAC's equity participation is as below: Guangzhou Automobile Industry Group Co., Ltd. holds 3,217,403,529 shares, which account for 91.9346% of the total shareholding equity, Wanxiang Group Corporation holds 139,636,656 shares, which account for 3.99%, China National Machinery Industry Corporation holds 129,169,156 shares, which account for 3.6909%, Guangzhou Iron & Steel Enterprises Group holds 6,999,331 shares, which account for 0.2%, Guangzhou Chime-Long Hotel Co., Ltd. holds 6,456,883 shares, which account for 0.1845%. Among them, Wanxiang Group Corporation is one of the leading manufacturers of automobile parts and components in China, China National Machinery Industry Corporation has an

advantage in machinery manufacture,Guangzhou Iron & Steel Enterprises Group is closely linked with automobile industry and has a regional advantage, Guangzhou Chime-Long Hotel Co., Ltd. is a private-owned enterprise with favorable operation mechanism and good market reputation.

GAC’s main businesses cover the whole design and manufacturing of vehicle and parts, which facing the domestic and foreign markets, sales of automobiles, auto logistics, auto finance, auto insurance and the related services, making GAC an auto company with the independent and integrated valve chain of manufacturing, supply, sales and R&D system. Currently GAC has invested in tens of renowned subsidiaries including Guangzhou Honda Automobile Co., Ltd., Guangzhou Toyota Motor Co., Ltd., Honda Motor (China) Co., Ltd., GAC Research Development and Production Base, Guangzhou Denway Bus Co., Ltd., Guangzhou Yangcheng Automobile Co., Ltd., Guangqi Hino Motor Co., Ltd., Guangzhou Automobile Group Component Co., Ltd., Guangqi Toyota Engine Co., Ltd., Guangzhou Automobile Group Business Co., Guangzhou Guang Ai Insurance Brokers Ltd., Tong Fang Global (Tianjin) Logistic Co., Ltd., China Lounge Investment Ltd., and GAC Automotive Engineering Institute and manufactures several series of products such as multiple models and brands of passenger vehicles , commercial vehicles, auto engines and main automobile parts.
From http://www.gagc.com.cn
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