Foton Motors' Board of Directors reviewed and approved the proposal for the joint venture company to produce medium and heavy-duty trucks and their engine projects with Daimler AG and Daimler Northeast Asia Investment Co., Ltd.: The name of the joint venture company is Beijing Foton Daimler Automotive Co., Ltd. During the period of the joint venture, it allowed the use of the "Futian" trademark, strategic systems related to the original Auman Medium and Heavy truck business, IT systems and general technology. The total investment of the joint venture project is 635.06 million yuan, and the registered capital of the joint venture company is 5.6 billion yuan, of which the company uses the existing Auman medium-heavy-duty card business detachable assets after evaluation as a capital contribution. (Assessment date is December 31, 2007. ) The value of 2.8 billion yuan, accounting for 50% of registered capital. The difference between the total investment of the project and the registered capital is partially resolved by means of loans, and the shareholders are guaranteed by the ratio of capital contribution. The joint venture company has a joint venture period of 30 years. The cooperation must still be reported to the NDRC and other relevant government departments for approval.
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