Dayang Motor: Frequency Agreement for New Energy Vehicles

Dayang Motor Co. announced on July 2 that following the signing of an agreement on “R&D and marketization of motors and drive systems for electric and hybrid vehicles” on March 18th with Beijing Institute of Technology, Dayang Electric (002249, stock) has recently North Polytechnic has signed a cooperation agreement on “R&D and industrialization of vehicle control systems for pure electric and hybrid vehicles”. Dayang Electric Co., Ltd. is mainly responsible for the industrialization of technological achievements and products, and the cooperation period is 10 years. The goal of the project is to develop and produce complete electric vehicle and hybrid vehicle control systems that are in line with national industrial policy requirements and are technologically advanced. Ocean Motor prompts that the cooperation project is currently in the cooperative research and development stage, and it takes a certain period of time to carry out product research and development and marketing promotion, and has no significant impact on the company's performance in the short term.

Comments: The vehicle control system, battery control system and motor control system are the three most important control systems for new energy electric vehicles. The cooperation of the two parties in the vehicle control system will be an extension of the “vehicle motor and drive system” cooperation project. , To enrich the electric vehicle technology system, enhance the company's industrialization capabilities in the field of motors and vehicle control systems, and create conditions for building a new energy automotive key components industrial chain.

As the short-term new energy vehicle business can hardly contribute to its performance, its profit contribution will not be considered for the time being and the forecast for 2009-2011 performance will be maintained at RMB 0.62, RMB 0.69 and RMB 0.78. Taking into account the huge space for new energy electric vehicle parts and components, it will constitute a new growth pole of the company and maintain the “overweight” rating.

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