China National Heavy Duty Truck Co., Ltd. recently signed a contract for the cooperation project with German Man in Hong Kong. It has introduced German Man as a long-term strategic partner and shareholder. Sinotruk and its parent company have received 560 million Euros (about HK$6.378 billion) from Hong Kong German Man. Euro 3 Euro 4 engine exports next year China National Heavy Duty Truck Chairman Ma Chunji told reporters at the signing ceremony on October 9 that after the official launch of the company’s cooperation with Germany’s Mann, it will use the German Mann’s technology to first produce new Euro 3 and Euro 4 engines. The engine can be put into operation next year and can be exported to European countries. Ma Chunji said that Sinotruk used German Mann's technology to produce engines and may need to purchase some imported equipment without much additional investment. German Man holds 4.22% of heavy-duty shares According to the relevant cooperation agreement, Germany’s total investment in Sinotruk amounted to EUR 560 million, including purchase of 99.19 million ordinary shares of CNHTC and the issuance of convertible bonds in exchange for 590 million shares of CNHTC. After the official transaction of the relevant project on October 9th, the shareholding of Sinotruk's parent company in China Sinotruk will be reduced from 69.35% to 65.13%, and the shareholding of Sinopharm in China Sinotruk increased from the original zero to 4.22. %, while public float remains unchanged at 30.65%. If the Mann’s Convertible Bonds are to be exercised in the future, the shareholding of Sinotruk’s parent company at Sinotruk will be diluted to 51%, while the shareholding of Mann’s in Germany will increase to 25%, and the public float will also be diluted. To 24%. According to the announcement, Sinotruk and German Mantech's technical cooperation includes Germany's TGA trucks, Euro 3, Euro 4 and Euro 5 engines. The chassis and axle technology licenses are licensed to China National Heavy Duty Truck and China National Heavy Duty Truck produces new types of engines. Truck series laid the foundation. Sewing Machine Spare Parts,Sewing Machine Spares,Stitching Machine Spare Parts,Tailoring Machine Spare Parts Ningbo Dingming Machinery Manufacturing Co.,Ltd , https://www.dingmingmachine.com