Guantao advises Shenzhen Bus Group on introducing strategic investors for power battery echelon use cooperation project
In July 2023, Shenzhen Bus Group Co., Ltd. (the "Bus Group") completed introducing strategic investors for the power battery echelon use cooperation project (the “Deal”) by means of public trading at Shenzhen United Assets and Equity Exchange. It introduced Shenzhen Hengchuang Ruineng Environmental Protection Technology Co., Ltd., a Type A strategic investor for power battery echelon use, and Shenzhen ELV Recycling Co., Ltd., a Type B strategic investor for scrapped car recovery. The Deal has strategic significance in terms of industry layout and recycling economy development. Our Guantao team, led by partner TAN Yanhua, , and assisted by senior associates WANG Ning and LIANG Yuzhen and associate SUN Yuan, acted as the PRC legal counsel for the Bus Group and provided efficient and high quality professional services in this Deal .
Shenzhen Shenba Environmental Protection Technology Co., Ltd. ("SHB"), affiliated with Shenzhen Bus Group, is a subsidiary of the Bus Group which intends to conduct the business of power battery echelon use. Established in 1975, the Bus Group has become a fully-licensed integrated public transport industry group, with public transport as its main business and supported by tourism transportation, car rental, long-distance passenger transport, advertising and media, station construction, property management, new energy charging operation, intelligent transportation and other business. It is the first committee member in China to join Union Internationale des Transports Publics (UITP) and the rotating Chairman of the Taxi and Ride Hailing Committee of UITP. The Bus Group adheres to the corporate development concept of "people-centered and better urban travel" and provides high-quality urban public transport services to passengers. Currently, the Bus Group has 23,000 employees, more than 13,000 operating vehicles and 329 regular bus lines, and annual passenger transport of more than 500 million person/times.
In recent years, the Bus Group has won many honors, including "Highest Honor Award of the 63rd International Public Transport Summit", "National Quality Benchmark", "First Prize for Innovative Achievements of 27th National Enterprise Management Modernization", "Excellent Case in Selection of 2020 Typical Cases of Digital Transformation of State-owned Enterprises by SASAC", "Professional Title of China Quality Innovation Achievements", "Gold Award for Innovative Application of Satellite Navigation Positioning System" and "Advanced Group in Combating the COVID-19 Epidemic in Guangdong Province".
Shenzhen Hengchuang Ruineng Environmental Protection Technology Co., Ltd. ("Hengchuang Ruineng" or the “Company”) is a company dedicated to the recycling and comprehensive utilization of lithium batteries and is a fully-licensed national high-tech enterprise in the lithium battery recycling industry with both the "White List for Echelon Use" and "White List for Recycling" granted by the Ministry of Industry and Information Technology. Since its establishment In 2017, Hengchuang Ruineng has become one of the leading global battery recovery companies. Hengchuang Ruineng actively responds to the environmental protection goal, and continuously explores the core technology of lithium battery echelon use, material recycling, new material rebuilding and realizes the industrial ecological closed loop of lithium battery with automatic and safe breaking, zero pollution treatment and high efficiency recycling. In the history of the Company's growth, Hengchuang Ruineng cooperated with China Mining University to set up a production and study base, and since its establishment, it has achieved fruitful results: won the first prize of Guangdong Environmental Science and Technology Award, the third prize of Jiangsu Science and Technology Award, the national high-tech enterprise certification, and reached strategic cooperation with Shenzhen Baxter, Guangdong Guang Zhou Transport, and successfully entered the Apple Key Green and Low-Carbon Supplier List.
Shenzhen ELV Recycling Co., Ltd. (hereinafter referred to as "ELV Co") was established in 2002, focusing on the recycling and dismantling of end-of-life vehicles and new energy automobiles and selling the reclaimed articles thereof. Meanwhile, it engages in such businesses as metal recycling, wholesale service, second-hand automobile brokerage, second-hand automobile sale, car leasing, agency business of motor vehicle management, towing service, parking lot service, investment in environmental protection projects and development of environmental protection technology. In addition, the ELV Co is also specialized in comprehensive utilization and sales of retired batteries and focuses on the trade and sales of products relating to new energy vehicles, as well as the recycling and echelon reuse of power battery modules. As an advanced enterprise, the ELV Co focuses on energy conservation, emission reduction and environmental protection. Adhering to the concept of "Green Recycling, Environmental Friendly Future", it resolutely promotes sustainable development strategy and strives to build itself one of the largest and most influential enterprises engaged in the recycling of discarded vehicles in China.
