Established on 24th, January, 2010, Beijing Henglong Automotive System Co., Ltd. was a joint venture of Beijing Hainachuan Automotive Parts Co., Ltd. and Hong Kong Great Genesis Group limited company.
On 24th, January, 2010, Mr. Hanlin Chen, the chairman of Henglong Group, delegated the President Mr. Qizhou Wu, to attend the signing ceremony for the establishment of the joint venture in Beijing. After the speech of Mr. Xianming Guo – the director of Beijing Automotive Industry Holding Co., Ltd, the standing committee of Party Committee and the Chairman of Beijing Hainachuan Automotive Parts Co., Ltd at the ceremony, Mr. Qizhou WuWu and Mr. Xianmin Guo , on behalf of joint venture enterprises of the two sides to sign the contract and shook hands to congratulate each other. Beijing Henglong Automotive System Co., Ltd., registered capital of $6 million, has planned to invest 150 million Yuan for the first phase of project to establish annual production capacity of 200 thousands EPS assembly and 300 thousands R& P power steering units.
The signing of Beijing Henglong Automotive System Co., Ltd marked the beginning of strategic cooperation between Henglong Group and BAIC Group; marked another successful layout of Henglong strategy- “Based on domestic mainstream market to enter international market actively”; and marked more and greater responsibilities for Henglong Group – this national independent brand to develop Chinese auto industry.
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