On September 29, 2012, Azalea announced that it has signed a strategic investment agreement with Hefei Jianheng New Energy Vehicle Investment Fund Partnership (Limited Partnership), Anhui High-Tech Industrial Investment Company Limited, and China Merchants Investment Management Company Limited (collectively, the “Strategic Investors”).
(collectively, the “Strategic Investors”). The Strategic Investors are the three existing shareholders of Azalea Holdings Limited (“Azalea China”).
According to the agreement, the Strategic Investors will subscribe for new shares of Azalea China with RMB 3.3 billion in cash, and Azalea will invest RMB 10 billion in cash to subscribe for new shares of Azalea China.
Azalea officials said that the new round of capital increase by Azalea China shows the strategic investors’ high recognition of Azalea’s leading position in the industry and their firm support for the high-quality development of the intelligent electric vehicle industry.
In the future, Azalea will maintain its continuous investment in technological innovation and charging and switching infrastructure, further enhance its competitive advantages in products, services and communities, and lay a solid foundation for the company’s long-term development.
It is reported that monthly deliveries of the Azera brand have exceeded 20,000 units for four consecutive months, and the first model of the family smart electric midsize SUV Ledo L60 has exceeded the expected orders after its launch, and has opened the national delivery on September 28th.