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China Aviation Industry Corporation (CAIC) and CAIC Jincheng Group add capital to Liuzhou Chenglong Special Purpose Vehicles Co., Ltd.

    The signing ceremony of China Aviation Industry Corporation and CAIC Jincheng Group held at A.M. December 19, 2008 in Liuzhou. This time of capital addition and stock expansion is another successful practice of carrying the specialized integration forward and tamping the development platform of special purpose vehicle industry of CAIC and Jincheng Group. Wu Xiandong, deputy general manager of CAIC, Chengang, Party secretary of Liuzhou City and the leaders of cooperative enterprises such as CAIC Investment Co. Ltd, Jincheng Group and Guangsi Fangsheng Industry Co., Ltd. took part in this signing ceremony. In this capital addition and stock expansion, Jincheng Group invested RMB 55.39 million yuan and CAIC Investment Co. Ltd. RMB 20.00 million yuan. After this capital addition and stock expansion, CAIC Jincheng Group and CAIC Investment Co. Ltd. occupy respectively 37.47% and 13.53% of share ratio of Liuzhou Chenglong Special Purpose Vehicles Co., Ltd., but Guangsi Fangsheng Industry Co., Ltd. 49%.

    The incorporation of Liuzhou Chenglong Special Purpose Vehicles Co., Ltd. is another capital operating in the field of special purpose vehicles after the capital addition and stock expansion of Anhui Kaile Special vehicles Co., Ltd. in the end of 1997 by CAIC and CAIC Jincheng Group. CAIC and CAIC Jincheng Group expect remedy the defect site of CAIC for special purpose vehicle industry in the markets of West and South of China relying on the market position of Liuzhou Chenglong Special Purpose Vehicles Co., Ltd. in the South of China, and raise quickly the market occupancy of dump truck in the field of special purpose vehicle industry of CAIC forming a situation of North-South act in cooperation.