CIMC respectively enters strategic cooperation agreements with Gree and Yinlong

China International Marine Containers (Group) Ltd. (CIMC) respectively entered into a strategic cooperation framework agreement with Gree Electric Appliances Inc. of Zhuhai (Gree) and Zhuhai Yinlong New Energy Co., Ltd (Yinlong) on February 28, 2017. According to the agreements, the three parties will make concerted efforts to improve China’s manufacturing competence, expand the influence of national brands, continuously deepen their collaboration and synergy in different fields, and seek better business growth points under “new normal” by strengthening industrial synergy.

Gree’s Chairman and President Dong Mingzhu, CIMC’s CEO and President Mai Boliang, and Yinlong’s General Manager Sun Guohua attended the signing ceremony.

CIMC and Gree will cooperate in numerous fields

CIMC and Gree, the two giants in logistics equipment, energy equipment and intelligent manufacturing sectors, both stick to the development concept centering round “Innovation”, and aim for an innovation-based win. The cooperation in numerous fields between the two sides will be a complementary and powerful combination. According to the agreement, CIMC and Gree will build closer and stronger ties in multiple businesses, including boarding bridges, modular buildings, offshore engineering, intermodal transport and intelligent manufacturing.

The heads of the two groups are optimistic about the cooperation prospects. Mai Boliang said that CIMC has been holding Gree and Dong Mingzhu in enormous respect and has greatly recognized Gree’s business philosophy. He further commented that Gree’s achievement in the manufacturing sector inspires CIMC, and Gree is a trustworthy business partner. Dong Mingzhu said that CIMC’s success in its onshore and offshore businesses is very impressive, and CIMC’s management levels and culture have held her in awe. She further expressed that though CIMC and Gree work on different businesses, yet they feel the same about the business development, so it is convinced that the cooperation between the two responsible giants will produce something valuable and remarkable.    

According to Wu Sanqiang, director of the secretarial office of the board, CIMC is one of major suppliers of boarding bridges in the world. It supplies 40% of newly boarding bridges to the world, and 95% to China. In the meantime, Gree Air Conditioners, a major player in domestic home appliances industry, has earned huge brand influence worldwide for its core science and technology as well as the original designs. The two sides agree that they will have deeper discussion and cooperation on air conditioning system for air bridges and PVA on-bridge air conditioners (a pre-conditioned air unit provided by an air bridge).  

CIMC’s modular buildings with steel structure as the basic structural part become more and more popular with hotels and students apartments in developed countries. Over the past few years, CIMC has won large orders from a number of world-famous hotel groups, such as InterContinental, Hilton, Marriott and AccorHotels. The cooperation between the two groups will enable Gree Electric to access the emerging building business and enhance the global presence of both sides.   

CIMC and Gree also agree to cooperate in smart equipment, offshore engineering and logistics transportation businesses. In the past few years, Gree has made rapid progress in its intelligent manufacturing, and this has won great attention from the public. Gree’s advanced equipment will be widely used in CIMC’s plants to improve their production efficiency; in the meantime, as China’s largest offshore engineering equipment manufacturer, CIMC will help Gree extend its reach of the refrigeration equipment for ships into global offshore engineering industry. In addition, CIMC’s Logistics Segment has powerful industrial logistics transportation capability and has built a world-class reputation. According to the agreement, the Intermodal Transport under CIMC will cooperate with Gree in relevant businesses.  

The two sides believe that their combination will raise the value of “Made in China” to a new level.

CIMC and Yinlong will focus on cooperation on the application of new energy

The application of new energy in industrial fields has become a trend and boasts bright prospect, and this is what CIMC has found in Yinlong, a Zhuhai-based rapidly developing new energy company.

Actually the cooperation between CIMC and Yinlong was made known to the public in December 2016 as CIMC and other well-established enterprises together increased their capital contribution in Yinlong. The signing of the strategic cooperation agreement means that the two sides have much deeper and more optimistic understanding of their cooperation. Mai Boliang and Sun Guohua both expressed their best wishes at the agreement-signing ceremony that the two sides will make joint efforts to start the formal cooperation as soon as possible and yield satisfactory cooperation results.

Yinlong’s lithium titanate battery technology is in the leading position in terms of energy storage. Featuring the advantage such as fast charging, long service life and low temperature resistance, the battery is especially applicable to buses and wharf trailers used for fixed mileages or lines. According to the agreement, the cooperation will kick off in the field of new energy commercial vehicles, including container tractors, civil service delivery vehicles, light-duty trucks, urban distribution vehicles and many other types that are jointly developed between Yinlong and the Combined Truck, a brand under CIMC. In the energy storage field, based on the excellent performance of Yinlong’s lithium titanate battery and CIMC’s abundant experience in modularization of containers, the two sides will explore the possibility for deeper cooperation on mobile charging and storage systems of modular containers.

In addition, Yinlong intends to access the application of new energy for ferry buses by taking advantage of CIMC’s abundant resources in global airports, and to promote its distribution and construction of new energy charging piles and stations by taking advantage of the layout of CIMC’s subsidiaries in hospitals and parking lots and gas stations of China National Petroleum Corporation in Beijing.