News

As a holding subsidiary of Vision Group, Vision Financial Leasing Co. has successfully brought in the partner Kong SunNew Energy(Hong Kong)Co., Ltd., working together to develop the financial leasing market. Kong SunNew Energy (Hong Kong)Co., Ltd. is a wholly-owned subsidiary of Kong Sun Holdings Limited, and is focused onrenewable energyinvestments.

According to the agreement, Kong Sun New Energy willget 55% stock right of Vision Financial Leasing Co. Afterwards, Vision Financial Leasing shareholders will increase their equity capital. After the transaction and capital increasing completed, Vision Group Financial Leasing registered capital will be expanded to USD 81.82 million (about 508 million RMB). Therefore, its current share goes in the following way: Kong Sun, Vision Group and J.S. Corrugating Machinery Co., Ltd. holding 55%, 35% and 10% stock right respectively.

The introduction of Kong Sun will greatly enhance Vision Group Financial Leasing comprehensive power and provide adequate financial support to the expansion of Visionnew energy business which is a strategic field for its further development. With the strong support of various fund resources, great changes will be taken onnew energy product development, market expansion and new business models exploration. Meanwhile, this financing measure will also strengthen the integration of battery industry and finance, and ultimately achieve a win-win result.