Group 1 - The core investment announcement involves Foton Motor and Huizhou EVE Energy Co., Ltd. establishing a joint venture named Beijing Foton EVE New Energy Technology Co., Ltd. with a registered capital of 500 million RMB [4] - Foton Motor and EVE Energy each contribute 250 million RMB, holding a 50% stake in the joint venture [4] - The investment aims to expand the new energy heavy truck business and provide diversified battery leasing solutions, supporting cost reduction in power batteries and improving profit margins for new energy heavy trucks [5] Group 2 - The board of directors unanimously approved the investment with no opposing or abstaining votes, indicating strong confidence in the venture [5] - The joint venture's board will consist of 6 directors, with each party recommending 3 members [5] - Foton Motor expects this collaboration to enhance market competitiveness of new energy heavy truck products, boost new vehicle sales, and secure core battery resources to establish a competitive advantage [5]

Core Viewpoint - The company is establishing a joint venture with EVE Energy Co., Ltd. to expand its new energy heavy truck business and provide diverse battery leasing solutions, aiming to reduce costs and improve profit margins in the new energy sector [5][18]. Investment Overview - The joint venture, named Beijing Foton EVE New Energy Technology Co., Ltd. (tentative), will have a registered capital of 50 million yuan, with both the company and EVE Energy contributing 25 million yuan each, resulting in a 50% ownership stake for both parties [2][5]. - This transaction does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations, and it does not require shareholder approval [3][5]. Board Meeting and Approval - The board of directors convened via electronic communication on May 16, 2025, to discuss the joint venture proposal, with all 11 directors present and voting unanimously in favor [6][7]. - The investment management committee of the board also expressed support for the proposal [7]. Partner Company Information - EVE Energy Co., Ltd. is a publicly traded company with a registered capital of approximately 20.46 billion yuan, specializing in battery manufacturing and related technologies [11][12]. - As of 2024, EVE Energy reported total assets of 1008.91 billion yuan and a net profit of 42.21 billion yuan [12]. Joint Venture Agreement Highlights - The joint venture will focus on new material technology research, battery sales, battery leasing, and recycling of used batteries, among other activities [13][14]. - The capital contribution will be made in three phases, with the first phase requiring 10 million yuan to be paid within 90 days of establishment [14]. Impact on the Company - The establishment of the joint venture is expected to enhance the company's market competitiveness in the new energy heavy truck sector, improve sales, and strengthen its core resource capabilities in battery technology [18]. - The investment is not anticipated to significantly impact the company's cash flow or financial performance, nor will it create competition within the same industry [18].

Core Viewpoint - Foton Motor (600166) plans to establish a joint venture with Huizhou EVE Energy (300014) to expand its new energy heavy truck business and provide battery leasing solutions [1] Group 1: Joint Venture Details - The joint venture, named Beijing Foton EVE New Energy Technology Co., Ltd., will have a registered capital of 500 million yuan, with both companies contributing 250 million yuan each, resulting in a 50% ownership stake for each [1] - The investment does not constitute a related party transaction or a major asset restructuring, and does not require approval from the shareholders' meeting [1] Group 2: Business Focus - The joint venture aims to support cost reduction in power batteries and improve the profit margins of new energy heavy trucks [1]