Last week, Lanzhou Yutong Bus was reorganized. After the reorganization, Lanzhou State Equipment Manufacturing Group Co., Ltd. holds 18.34%, Gansu Tuoling Industry and Trade Development Co., Ltd. holds 1.66%, and Zhuhai Yinlong New Energy Co., Ltd. and its associated parties hold 80%.

Last June, Zhuhai Yinlong Energy Co., Ltd. and Lanzhou municipal government jointly signed the agreement on new energy vehicles and power storage project. The agreement says that Lanzhou Public Transport Group purchases or rents 1500 pure electric buses from Zhuhai Yinlong, of which 600 are purchased or rented over 2016 - 2017; Zhuhai Yinlong (or its associated investors) reorganizes Lanzhou Yutong Co., Ltd. , in cash to increase capital investment. After the registration of the reorganized company, construction of new energy vehicles and power storage industry park will be fully implemented in Lanzhou new district. In the next 3-5 years, Zhuhai Yinlong will invest 10 billion yuan in Lanzhou new district to introduce the most advanced technology and technique. The construction of the project will be implemented in three phases, and finally it will become a production and R&D park for the whole industry chain of new energy industry in the northwest region. The industry chain includes new energy vehicles, power batteries, energy storage power stations and charging piles and so on.