Gotion High-tech Co., Ltd.

Company Profile

■URL

https://www.gotion.com/

■Address

No. 566, Huayuan Avenue, Baohe District, Hefei City, Anhui Province, China

Business Overview

-The Company is an automotive-products supplier based in China, which independently develops, produces, and sells lithium-ion batteries for new-energy vehicles.

-In the year ending December 31, 2020, the Company's lithium-battery business generated sales of RMB6.277 billion, accounting for 93.35% of total sales.

-The Company's accumulated capacity of power-batteries produced in 2020 is about 3.27 GWh, accounting for about 5.2% of the domestic market share, ranking fifth. The Company's accumulated capacity of lithium iron phosphate batteries produced is about 2.9 GWh, achieving a domestic market share of 12.06%, ranking third in the domestic market.

-Starting in May 2020, the Company began delivering power-battery systems for the Wuling Hongguang Mini by SAIC-GM-Wuling, establishing a new company producing batteries in Guangxi, Liuzhou Guoxian Battery Co. In the future, the Company will provide power-battery systems on multi-model platforms for customers such as FAW-GM-Wuling.

Shareholders

-Listed on Shenzhen Stock Exchange (as of Dec. 31, 2020)
Major Shareholders Shareholding Ratio (%)
Nanjing Guoxian Holdings Group Limited (formerly known as Zhuhai Guoxian Trading Company Limited) 15.28
Li Zhen 10.53
Foshan Electrical Lighting Co. 3.55
Others 70.64
Total 100.00

- Volkswagen (China) Investment Co., Ltd., VW's Chinese subsidiary, has acquired a 26% stake in the Company and become its largest shareholder. The issue review committee of the China Securities Regulatory Commission (CSRC) reviewed and approved the stock acquisition. (From multiple media reports dated 7 April 2021)

Products

Lithium-ion battery separators
Cathode materials
Battery core
Battery management systems

History

Nov. 1995 Jiangsu Dongyuan Electric Group Co., Ltd., the Company's predecessor, was established.
May 2006 Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., the Company's subsidiary, was established.
Jul. 2006 The first phase of the Company's plant and R&D building construction began.
Sep. 2006 The Company was listed on Shenzhen Stock Exchange.
Dec. 2006 The first phase of the Company's plant construction was completed.
Feb. 2007

The Company's 50,000 Ah battery production line started trial production and produced the first batch of qualified battery products; the second phase of plant construction started.

Mar. 2007 The Company's R&D center was established.
Feb. 2008 The Company's lithium iron phosphate production line was put into production and produced the first batch of qualified products.
Oct. 2008 Guoxuan High-tech Engineering Research Institute and Anhui University & Guoxuan Electric Vehicle Engineering Technology Center held unveiling ceremony.
Oct. 2009 The Company began production of electric bus batteries.
Mar. 2010 The production line of lithium iron phosphate material was expanded and the equipment entered into installation and commissioning stage.
Apr. 2010 Guoxuan High-tech Iron Lithium Battery Billion Industrial Base Project obtained Ministry approval.
Aug. 2010 The Company's new 200,000 Ah production line was put into operation, and construction began on 200,000 Ah automotive special iron-lithium battery production line.
2014 Guoxuan High-tech Engineering Research Institute was rated as National Enterprise Technology Center and National CNAS Accredited Testing Center.
Apr. 2015 The Company's predecessor, Jiangsu Dongyuan Electric Group Co., Ltd. issued shares to acquire Hefei Guoxuan Gaoke Power Energy Co., Ltd.
Sep. 2015 The Company changed its name from Jiangsu Dongyuan Electrical Group Co.,Ltd. to Guoxuan High-tech Co.,Ltd.
Aug. 2016 Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., a wholly-owned subsidiary of the Company, and Zhejiang Kangsheng Co., Ltd. jointly established Luzhou Guoxuan New Energy Co., Ltd. in Luzhou City.
Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., a wholly-owned subsidiary of the Company, and China Aerospace Wanyuan International (Group) Co., Ltd. jointly established Aerospace Guoxuan (Tangshan) Lithium Battery Co., Ltd. in Tangshan City.
Apr. 2018 The Company built a wholly-owned subsidiary named Hefei Guoxuan Battery Co.,Ltd.in Hefei Economic and Technological Development Area.
Apr. 2020 Changed company name from Guoxuan High-tech Co., Ltd. to Gotion High-tech Co., Ltd. 
May 2020 The Company and Volkswagen (China) Investment Co., Ltd. signed a strategic cooperation agreement. Under the agreement, Volkswagen (China) Investment became the largest shareholder of the Company. 
Jun. 2020 Established Liuzhou Guoxian Battery Co., Ltd. as a joint venture with Guangxi Liuzhou Dongcheng Investment Development Group Co.
Mar. 2021 Established a joint venture, Yichun Guoxian Mining Co., with Yichun Mining Co., Ltd.

Supplemental Information 1