Although it is late on the road to new energy, Great Wall Motors is well prepared and working hard. On New Year's Eve, Great Wall Motors announced that the company sold 123 company patents, non-patented technology assets and some assets to Honeycomb Energy and Honeycomb Energy Baoding Branch for consideration of RMB 164 million and RMB 47.7007 million respectively. This means that Great Wall Motors will further assist the independent operations of its power battery companies to improve their competitiveness.

　　The announcement pointed out that the 123 company patents include 76 utility models that have obtained certificates and 47 non-patented technologies that have been declared but have not yet obtained certificates. Independently developed by Great Wall from 2015 to 2018 and currently held by the company, the above-mentioned patented and non-patented technologies are mainly used in battery management systems, battery manufacturing, battery packaging, automotive component production and other fields.

　　Promote the independence of "Hive Energy"

　　Honeycomb Energy Technology Co., Ltd. was registered and established by Great Wall Motors on February 12 last year, a few days before BMW Great Wall announced the signing of a letter of intent for cooperation (February 23). Its registered address is Huacheng Middle Road, Jintan District, Changzhou City No. 168, this address is in the same Jintan District as the factory address of the BMW Great Wall Cooperation Project, and the distance between the two is about 7 kilometers. Honeycomb Energy's business scope mainly includes the development and sales of lithium-ion power batteries and their cathode materials, energy storage batteries, etc., as well as the research and development and operation of new energy vehicle charging piles, battery utilization and recycling, etc.

　　Prior to this connected transaction, Great Wall Motors signed an equity transfer agreement with Baoding Duanmao on October 26, 2018. The company sold 100% of the equity in Honeycomb Energy to Baoding Duanmao, a wholly-owned subsidiary of Great Wall Holdings. Great Wall Motor stated at the time that the main purpose of transferring Honeycomb Energy was to save capital expenditures, concentrate resources on developing core businesses, and improve profitability. At the same time, it was to realize market-oriented operations of Honeycomb Energy and improve its product competitiveness. The transfer and sale of 123 company patents, non-patented technology assets and some assets to Hive, means that Great Wall Motors will further assist the independent operation of its power battery company.

　　It is understood that Honeycomb Energy’s factory construction covers an area of more than 3,000 acres, and the project is divided into two phases. The first phase construction covers 1,600 acres, and the second phase construction covers more than 1,000 acres. In July, the first phase of construction has completed the land leveling stage and cables are being laid. The second phase of construction is in the land leveling stage. It is reported that the factory is expected to be completed in the second half of next year.

　　With the promotion of new energy vehicles, domestic power battery companies have developed rapidly. For example, CATL, the power battery company with the largest shipment volume, showed in its third quarter report last year that its revenue increased by 60%, which allowed many car companies to see opportunities. This promotion of the market-oriented independent operation of Honeycomb Energy will obviously play a role in "increasing revenue and reducing expenditure" for Great Wall Motors. It is also in line with the "focus strategy" mentioned by Great Wall Motors Chairman Wei Jianjun, and will also enable it to advance into the new era. Energy market paving the way.

　　Great Wall deploys to the entire industry chain

　　It has to be said that Great Wall Motors has long been aware of the industry changes that may be triggered by changes in policy and market environment, which has allowed it to immediately start its layout in the upstream, midstream and downstream of the new energy market.

　　On September 29, 2017, Great Wall Motors announced that its indirect wholly-owned subsidiary Yixin Development had subscribed for no more than 3.5% of the equity of Pilbara Minerals in Australia for RMB 145.8604 million, which owns a stake in Port Hedland, Western Australia. 100% interest in the Pilgangoora lithium project. It is understood that the expected production scale of the first phase of the project is 300,000 tons/year of spodumene concentrate, which is Great Wall Motor's upstream layout.

　　In the midstream, Great Wall Motors has invested more than 1 billion yuan in power battery research and development, and built battery cells, mechanism analysis, PACK, BMS trial production laboratories, battery trial production workshops, test centers, analysis centers, etc. Its power battery production base is also in Intense preparations are underway. As early as 2006, Great Wall Motors had entered the new energy field and established a battery project team in 2012. The project team was upgraded to the power battery division in 2016 and eventually developed into an independent energy technology company. It is understood that the current Great Wall Motors power battery R&D team has reached about 2,000 people, spread across China, the United States, India, Japan and South Korea.

　　In August last year, Great Wall Motors launched its new energy vehicle brand ORA. Since then, it has established a joint venture with BMW to establish a new electric vehicle company. It has jointly invested with Yujie to establish Lingtu Motors, and then invested in a hydrogen refueling station operator. At the same time, it has The Zhejiang factory project with an annual production capacity of 50,000 new energy vehicles was approved.

　　In the field of new energy research and development, it has established wholly-owned subsidiaries, Honeycomb Energy Technology Co., Ltd. (registered capital of 1 billion yuan), Honeycomb Yichuang Technology Co., Ltd. (registered capital of 1 billion yuan), and Honeycomb Energy Technology Co., Ltd. Baoding Branch.

　　It is worth mentioning that in March 2018, Great Wall Motors became the first Chinese automobile company to join the International Hydrogen Council (Hydrogen Council), joining well-known multinational companies such as Audi, BMW, Daimler, General Motors, Honda, Hyundai, and Toyota. Automobile companies work together to develop hydrogen energy. The country's first hydrogen energy technology center with testing, trial production, and vehicle integration and testing capabilities for all core components of FCEV has also been built and put into use.

　　Judging from sales performance, Great Wall Motor's four major brands continue to experience overall growth through preferential measures and new car strategies; what is more eye-catching is that its transformation in the new energy field has begun to show results. The latest data shows that Great Wall Motors sold 132,489 new cars in November last year, an increase of 1.09% year-on-year and a month-on-month increase of 20.35%; the cumulative sales volume in the first 11 months of last year reached 919,200 units, and there is no doubt that the overall sales volume in 2018 will exceed one million. While traditional fuel vehicles are experiencing a sharp rebound, Great Wall Motors has begun to show its prominence in the new energy sector. The new energy brand Euler was launched in August last year. Its first model, the Euler iQ, has now achieved a cumulative sales of 2,460 units; Beijing last year WEY's first plug-in hybrid model, the P8, launched during the auto show, had cumulative sales of 3,072 units by the end of November last year.

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