Official announcement! Geely buys aston martin.

Official announcement! Geely buys aston martin.

On September 30th, Zhejiang Geely Holding Group Co., Ltd. (hereinafter referred to as "Geely Holding") announced that it had completed the acquisition of 7.6% shares of aston martin Lagunda International Holdings (hereinafter referred to as "aston martin"), a British ultra-luxury brand.

Official announcement! Geely buys aston martin.

Geely always gives people the impression that it is "bought by buy buy", and there are countless automobile brands that it has "swallowed up". According to official website, Geely Holding Group currently owns brands such as Geely, Linklater, Krypton, Geometry, Volvo, Polestar, Proton, Lotus, London Electric Vehicle, Long-range New Energy Commercial Vehicle and Taili Flying Vehicle.

Official announcement! Geely buys aston martin.

On December 23, 2009, Ford Motor Company and Geely Holding Group announced that they had reached a preliminary agreement on Ford’s sale of its Volvo Company to Geely, and all important commercial terms were agreed. On March 28th, 2010, Geely Holding and Ford Motor Company formally signed an agreement in Gothenburg, Sweden to acquire 100% equity of Volvo for US$ 1.8 billion, and Volvo became a brand of Geely Holding. On August 4, 2017, Geely Holding Group, Geely Automobile Group and Volvo Car signed a joint venture agreement, and Linklater became a tripartite joint venture brand, and the joint venture company was formally established.

Official announcement! Geely buys aston martin.

Founded in 1983, Proton is a wholly-owned subsidiary of DRB-HICOM and the largest automobile company in Malaysia. Founded in 1948, British LOTUS is a world-famous sports car and racing car manufacturer. It was once translated into Lotus Sports Car, and its headquarters is in Hethel, England. In 1996, Proton Group successfully acquired the British LOTUS (Lotus Group) International Company, which announced its entry into the China market in 2011, and issued the official Chinese name "Lotus". On June 23, 2017, Geely Holding Group signed a final agreement with Malaysian DRB-HICOM Group to acquire 49.9% shares of Proton, a subsidiary of DRB-HICOM, and 51% shares of Lotus, a luxury sports car brand.

Official announcement! Geely buys aston martin.

Proton went to Daimler Group after that (in February 2022, Daimler Group was renamed Mercedes-Benz Group). In February 2018, Geely Holding acquired about 9.69% of Daimler through its overseas corporate entities for 9 billion US dollars, becoming the largest single shareholder of Daimler Group. In March 2019, Geely Holding Group and Daimler Group announced that they would set up a joint venture company to jointly operate and promote the transformation of smart brand on a global scale. The joint venture company is headquartered in China, and each party holds 50% of the shares.

Official announcement! Geely buys aston martin.

Geely Holding twice offered an olive branch to aston martin, but aston martin was unmoved. On January 11th, 2020, the Financial Times reported that Geely Holding was seeking to invest in aston martin, and had held talks with the investors and management of the company, but the result was inconclusive. Since then, aston martin has issued a statement that aston martin has reached an agreement with Canadian billionaire Lawrence Strahl, and a consortium led by Lawrence Strahl will acquire 16.7% of its shares for 182 million pounds (about 1.658 billion yuan), and a rights issue supported by Stroll and other major shareholders will further raise 318 million pounds (about 2.897 billion yuan).

Official announcement! Geely buys aston martin.

In mid-July this year, while aston martin disclosed that it would introduce new strategic investors, it was also reported in the industry that the Atlas consortium, composed of Geely and Italian InvestIndustrial, had invested 1.3 billion pounds in the British sports car manufacturer. However, aston martin’s board of directors rejected this proposal, and eventually the Saudi Arabian Public Investment Fund, which holds McLaren shares, became the new major investor and the second largest shareholder, and the latter will invest 78 million pounds in aston martin and issue an additional 575 million pounds, raising a total of 653.8 million pounds.

The insiders believe that Geely’s shareholding in aston martin is reasonable, but the huge difference in business philosophy between the two parties has made Geely’s two attempts unsuccessful. Geely’s idea is to let aston martin participate in the competition in the mass market, but the latter insists on its own high-end positioning. As for why Geely Holding was able to complete the acquisition of 7.6% shares in aston martin, there is no specific discussion process at present.

Official announcement! Geely buys aston martin.

According to the data, aston martin is a well-known sports car manufacturer. It was founded in March 1913 by Lionel Martin and Robert Banford. The company was originally named Bamford & Martin Ltd. In 1947, British entrepreneur David Brown bought aston martin Company. In 1994, david brown sold aston martin to Ford Motor Company of the United States and became a wholly-owned subsidiary of Ford. In 2007, Ford sold most of its shares to a consortium led by British racing company Prodrive. In December 2012, the Italian private equity fund Investindustrial announced that it would invest 150 million pounds to acquire a 37.5% stake in aston martin. In October 2018, aston martin was listed on the London Stock Exchange.

Since the listing on the London Stock Exchange, aston martin has had a hard time, with its share price dropping by 90% for a time, and even falling into the mire of losses due to poor sales, so it had to issue bonds to raise funds.

Official announcement! Geely buys aston martin.

Affected by the blockade of the China epidemic, the escalation of the situation in Russia and Ukraine, and the soaring cost, Aston Martin’s supply chain and logistics problems have become more serious, leading to an increase in its losses. According to the financial report, in the first half of 2022, aston martin sold 2,676 vehicles worldwide, with a pre-tax loss of 285.4 million pounds, compared with 90.7 million pounds a year ago. The board of directors believes that the proposed financing will further support the company’s reconfirmed medium-term goal, that is, to achieve the global sales revenue of about 10,000 vehicles and about 2 billion pounds by 2024-2025, as well as the adjusted EBITDA of about 500 million pounds, and generate positive free cash flow from 2024.

The State Council and the Central Military Commission promulgated and implemented the Interim Regulations on Flight Management of Unmanned Aerial Vehicles.

  Cctv news(News Network): the State Council and the Central Military Commission recently announced the Interim Regulations on Flight Management of Unmanned Aerial Vehicles. The Regulations implement the overall national security concept, make overall plans for development and safety, adhere to the bottom-line thinking and systematic concept, focus on safeguarding aviation safety, public safety and national security, focus on improving the supervision rules of unmanned aerial vehicles, manage unmanned aerial vehicles from design, production to operation and use, and strive to build a scientific, standardized and efficient management system for unmanned aerial vehicles’ flight and related activities, providing a strong legal guarantee for preventing and resolving the safety risks of unmanned aerial vehicles and promoting the sustained and healthy development of related industries.

  There are 6 chapters and 63 articles in the Regulations, which shall come into force on January 1, 2024.

Spicy Finance: Small hydropower is clean energy, why is it restricted to stop?

  This year’s government work report proposes to make room for the development of clean energy. Although small hydropower is internationally recognized as clean energy, its development is restricted or even stopped in some places. There are more than 47,000 small hydropower stations in China. What will happen in the future?

  "It is easy to build a river dam, will it have an impact on the ecology? The water was intercepted by the upstream, and what about the downstream water? " The social doubts about small hydropower mainly focus on three aspects: first, it will reduce the dehydration of river sections; second, the dam construction of small hydropower will cut off rivers; third, it will compete with the people for water.

  The power stations built in the early days were limited by the conditions at that time, and some of them were unscientific in planning and design. In addition, they were once developed out of order, which really brought about the influence of river reduction and dehydration, and some river basins had problems such as river cut-off and water pollution and eutrophication.

  Will these problems become the "fatal wound" of small hydropower? Should small hydropower be developed or restricted? Spicy Finance went to Fujian and Zhejiang, major hydropower provinces, and conducted an investigation and interview.

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  Small hydropower has great emission reduction benefits and high energy return rate.

  Yongchun County, Fujian Province, is the birthplace of small hydropower in China. There are 220 hydropower stations in 750 kilometers of rivers. The small hydropower here has made farmers’ production and life inseparable.

  There are 236 administrative villages in Yongchun County, and 122 villages have hydropower stations. More than 70% of the power stations are collectively managed by villages, with an average annual hydropower income of 200,000 yuan. Xianyan Hydropower Station undertakes the public welfare services of surrounding villages, and 10 villages enjoy preferential electricity prices, with 3 cents cheaper per kilowatt hour, which is nearly 700,000 yuan a year.

  "Small hydropower itself does not draw water, which is a green project." Zheng Shuangwei, director of the county water conservancy bureau, said that the development of small hydropower will destroy the ecology, which is biased. After all, there are a few small hydropower problems. In fact, the negative impact of small hydropower can be minimized through technical means and management measures.

  In the dry season of Qingyuan Power Station on the main stream of Taoxi River, the 7-kilometer-long reach is easy to dry up from the water intake to the water outlet of the power station. This is also a controversial dewatering section.

  How to solve the problem of water reduction in river reach? In 2015, the power station was rebuilt, and 48 new drainage holes were added, from which gurgling water flowed into the river. "The measures are quite simple. With the drainage holes, the dry season will give priority to ecological protection. With a flow rate of 1 cubic meter per second, the river section will not be dehydrated." Lin Jingsheng, head of the power station, said.

  During the "Thirteenth Five-Year Plan" period, Fujian will ecologically transform 500 small hydropower stations. By 2030, all power stations that cause serious dehydration will implement ecological flow.

  Then, will the small hydropower dam cut off the river? Will it compete with the people for water?

  Zhejiang encourages the ecological transformation of small hydropower stations, installing ecological units, adding water outlets and building dams. The province subsidizes 35%, and the city and county subsidize some more. Fenghuang Hydropower Station in Anji County has transformed into "small hydropower+water supply". There is a power plant under the dam and a water plant on the dam, and an ecological small unit is added. Last year, the water supply alone reached 10 million cubic meters. With the ecological flow, the downstream delivery port will be smooth and clear all the year round.

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  Small hydropower can not only generate electricity, but also has obvious comprehensive benefits such as flood control, irrigation and water supply. There are four reservoirs behind the 480 kW White Hydropower Station in Yongqiang District, Wenzhou City, Zhejiang Province. The flood was put into the reservoir area and the fertile land was irrigated.

  "Small hydropower itself is no problem. Through scientific planning and strict supervision, some negative effects can be minimized." Cheng Xialei, director of the International Small Hydropower Center, said that not only small hydropower, but also any human activity has an impact on the ecological environment, and wind power and photovoltaics are no exception. The key is how to weigh the pros and cons and how to transform.

  According to the data of international research institutions, from the perspective of energy return rate, hydropower is 170— 280, while wind power is 18— 34, solar energy is 3— 6. Traditional thermal power is 2.5— 5.1。 According to the research of china environmental science Research Institute, the benefit of reducing PM2.5 emission by small hydropower is more than 1.5 times that of wind power and solar power generation. In other words, small hydropower generates a lot of electricity, but the energy required for its own construction and maintenance is very small.

  Accurate poverty alleviation, small hydropower shoulders the heavy responsibility

  At present, the development rate of small hydropower in China is 59.2%, which is lower than the level of about 80% in developed countries. In Switzerland and France, the development rate of small hydropower is as high as 97%.

  Most of the undeveloped hydropower resources in China are concentrated in 832 poverty-stricken counties. To win the battle against poverty, we must not only let the poor people get rid of it, but also let them have a stable income and a way to get rich. But at present, the biggest difficulty in industrial assistance is that there are too few good projects. Small hydropower projects, however, have little investment risk and market impact, and can bring long-term stable income. Local development and nearby power supply will help the poor realize the function of "hematopoiesis".

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  In 2016, the state allocated 300 million yuan from the central budget to carry out pilot projects of rural small hydropower poverty alleviation in six provinces and cities including Hunan, Shaanxi and Chongqing. According to the national regulations, after the completion of the poverty alleviation hydropower station, the poverty alleviation income funds will be paid to the county government where the project is located at a rate of not less than 6% of the central investment every year, which will be specially used to support the construction of local poor households and infrastructure.

  The pilot project of rural small hydropower poverty alleviation in Shaanxi Province will be fully completed before the end of June, and the poor people will share the fruits of hydropower resources development. The four pilot projects in the province will provide no less than 3.4 million yuan of poverty alleviation income funds every year for poverty alleviation and improvement of local infrastructure.

  Dongkou County and Xinhua County, Hunan Province, are located in the contiguous poverty-stricken areas of Wuling Mountain. Last year, the central government invested 10 million yuan and 29.8 million yuan respectively to build two poverty-relief power stations. Each year, the two power stations will allocate more than 2.4 million yuan as income funds for poverty alleviation, 80% of which will directly increase the income of poor households who have set up files, and 20% will be used for infrastructure construction in poor villages.

  "Small hydropower has remarkable benefits in poverty alleviation, and I hope to increase policy support." Cheng Xialei suggested that the ecological electricity price mechanism is feasible, and an ecological compensation mechanism should be established as soon as possible in accordance with the principle of "whoever develops and protects, whoever benefits and compensates".

  "It is worth noting that behind the restrictions on small hydropower, the installed capacity of coal-fired power is still expanding. In some places, water, wind and light are seriously abandoned. Only Sichuan and Yunnan provinces abandoned 80 billion kWh of water last year." Wang Yinan, a researcher at the Institute of Resources and Environmental Policy of the State Council Development Research Center, said that although the Renewable Energy Law clearly stipulates that hydropower is renewable energy, hydropower has not been able to enjoy the incentive policies for renewable energy such as wind power and solar energy for more than 10 years, and hydropower has been excluded from the full-guaranteed acquisition policy, which has hindered its consumption. At the national level, top-level design should be accelerated, local barriers should be broken, and hydropower should be included in the scope of full-guaranteed acquisition of renewable energy as soon as possible. (People’s Daily Central Kitchen Spicy Finance Studio Zhao Yongping)

Warm reminder! It is related to the examination of motor vehicle drivers in rainy and snowy weather.

Jining News Network News On February 1st, Jining Vehicle Management Office issued "Warm Tips on Motorists’ Examination in Rain and Snow", as follows:

According to the meteorological department, from February 2 to February 5, there were still rain, snow and strong winds in Jining. In view of the snow and ice on the road, dmv, the Municipal Public Security Bureau, has launched an emergency plan for bad weather, timely investigated the road conditions of the examination room, and made a good job of snow removal and ice melting to meet the test requirements as much as possible.

However, it is still uncertain whether the automobile subject II (venue) and subject III (road test) can be organized normally by then. If, after work, the examination room still does not meet the normal examination conditions, the vehicle management office will release the news at the first time through the "Jining Vehicle Management Office" WeChat WeChat official account and the driving school work WeChat group, and notify the candidates in time, and the vehicle management office will cancel the examination in a unified manner; If the examination room has the examination conditions, and remote candidates can’t get to the examination room to take the exam due to extreme weather, the vehicle management office will cancel the exam the next day. The above cancelled exams will not be counted as the number of exams, and no fees will be charged, which will not affect the candidates’ ranking for the next exam. If a candidate’s driving certificate is about to expire or under other special circumstances, please report it to the vehicle management office in time through the traffic control 12123 voice service hotline or the driving school where you are located, and we will serve you wholeheartedly. I apologize for the inconvenience caused by the delay in the examination process due to the weather. Thank you for your understanding and support of the traffic police vehicle management work!

Please pay attention to safety when traveling in rainy and snowy weather! As the Spring Festival approaches, I sincerely wish you all good luck, peace, joy and happiness in the Year of the Dragon!

Tel: 0537-12123

Jining Bureau of Public Security dmv

February 1, 2024

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