Company news

ZYNP Obtains Central Government Budget's 19.6 million RMB after 540 Million Raising Funds

    Recently, our company received the document about the budget notification of Enterprise Development and Technological Transformation Project of 2012 investment plan (Central Government's evaluation). New project new energy-saving environmental protection engine cylinder liner with annual capacity 13 million would obtain Central Government budget 19.6 million RMB.

    In August, non-public issue application of new energy-saving environmental protection engine cylinder liner with annual capacity 13 million was approved and raised 540million RMB funds. If the project was built successfully, it would own the production capability of 5 million new type commercial vehicle and 8 million passenger car (cast-in cylinder liner). This project would have tremendous prospect, so it obtained a high attention and support from the securities institutions, fund companies and investors, especially obtained support from national government and governments at all levels.

    This project finally got NDRC's final approval. NDRC affirmed that this project accorded with relevant national regulation. It belonged to the important objective of enterprise development and technological transformation project supported by the government.

    This project obtained the support and trust from national government, which gave our morale and confidence. Due to the support from the governments at all levels and all the investors, we believe that we can become an enterprise with leading R&D level, the strongest comprehensive competitiveness and international famous brand through concerted efforts of all staffs.

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