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HONG KONG, June 29, 2010 - (ACN Newswire) - China Innovation Investment Limited ("China Innovation", Stock Code: 1217.HK) and China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK) are delighted to jointly announce that, with the proposed cooperation with CNIGC's subsidiary, the three parties will establish a cooperation for operation and marketing on solar electric vehicle under the energy management contract (CEM) and the application of numerical control system. Through the above cooperation, it is believed the development for the project and business could be enhanced with the strong technical and resource support from CNIGC.
China Innovation, China Trends and (transliterated as China Oriental Numerical Control Company Limited), a subsidiary of CNIGC in the PRC, entered into a Letter of Intent today after the morning trading session. In which, China Oriental Numerical Control will provide numerical control products and related technology. The investee company of China Innovation will privide high efficiency electrical storage technology and products., while China Trends Group will take part in the operation and marketing. The three parties will work closely to carry out a comprehensive cooperation on new energy numerical control system.
In addition, China Innovation, China Trends and China Oriental Numerical Control agree to use the application of numerical control system in solar electric vehicle with the application of numerical control system at the elementary phrase. China Oriental Numerical Control will provide numerical control products for the investee companies of China Innovation. China Trends will take part in merchandising and operation for the cooperation by mean of CEM with a target of producing 1,000,000 solar electric vehicles. The three parties also agree on establishing a working team based on joint venture (if necessary), technology, product integration and operation model etc. to reach an exclusive partnership arrangement as soon as possible.
The Company believed, with strong support from the PRC government to promote the implementation of CEM model to facilitate the energy-saving service sector in the economy, China Innovation and China Trends are expected that the possible cooperation with China Oriental Numerical Control could further develop the CEM business and the cooperation in the operation and marketing for solar electric vehicle with the application of numerical control system in China Trends Group and the investee companies of China Innovation. Through the cooperation with the subsidiary of CNIGC, it is also expected that the development for the project and business could be enhanced with the strong technical and resource support from CNIGC.
China Oriental Numerical Control, a subsidiary of CNIGC, is one of the three major national numerical control industrialization bases in the PRC. The company began to cooperate with Siemens AG in the field of machine tool numerical control system since 1989. It is mainly engaged in developing, producing, selling and serving the popularization and full function of the numerical control systems, as well as the numerical control reconstruction of all kinds of machine equipments. In 1996, the company and Siemens AG established a joint venture named as(transliterated as Siemens Numerical Control (Nanjing) Limited)., and now it has the production capacity to produce different kinds of numerical control systems nearly to 10,000 sets annually. China Oriental Numerical Control is currently an integrated company in the area of research, manufactures, marketing, customers' service, project engineering, and investment management and participates actively in domestic and international market.
Contact:
Carmen Lee
Investor Relationship Department
China Innovation Investment Limited
Email: carmen.lee@1217.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Business Tieup
Source: China Innovation Investment Limited
Sectors: Electronics, Solar
http://www.acnnewswire.com
From the Asia Corporate News Network
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