On December 24, 2010, Wuxi Weifu Hi-Tech Group Co., Ltd. (hereinafter referred to as Weifu Hi-Tech Co., Ltd.) convened an extraordinary general meeting of shareholders and passed the proposal of the share-raising of the two major shareholders. Among them, the second largest shareholder Bosch increased its shareholding in Weifu Hi-Tech from 3% to 14%. Through this shareholding increase, Bosch will strengthen the localization of its diesel systems and components in China. Bosch hopes to expand its business in the commercial vehicle sector while expanding new business opportunities in the area of ​​diesel passenger cars and other automotive products. At the same time, Bosch transferred to Weifu Hi-Tech a 1% stake in the joint venture company Bosch Diesel Systems Co., Ltd. After the equity transfer, Weifu Hi-Tech increased its shareholding in the joint venture company to 34%. This means Weifu Hi-Tech's right to speak in the joint venture is further enhanced. "The stock-sharing plan fully expresses the common desire of Bosch and Weifu to consolidate their cooperative relations. It will effectively support Bosch's strategy for further development in China," said Dr. Bernd Bohr, president of the Bosch Group's global automotive business. Bosch’s increase in this share is part of Weifang Hi-Tech's private placement. On November 9, 2010, Weifu Hi-Tech issued a suspension announcement and issued a pre-approval plan on November 16. It plans to issue a total of 1.13 to the company’s major shareholder, Wuxi Industrial Development Group and the second-largest shareholder, overseas strategic investor Bosch. Billion A shares, raising 2.93 billion yuan of funds. According to the announcement, Weifu Hi-Tech Co., Ltd. has raised funds for six major areas: the research and development and industrialization of WPS (High-Voltage Integrated Systems), the increase in the production capacity of diesel common rail system components, and the industrialization of automotive exhaust after-treatment system products. Engineering Research Institute projects, industrial park construction projects, automotive battery materials and power battery R&D projects, and equity acquisitions. Weifu Hi-Tech plans to invest 5 billion yuan in the next five years to realize the transition from parts suppliers to system integration suppliers and become the "China's leader in automotive core components." The cooperation between Bosch and Weifu began in 1984, when both parties signed a production license agreement for the diesel injection system. In 1995, Bosch established a joint venture with Weifu - Wuxi Ouya Diesel Injection Co., Ltd. In 2004, the two parties further upgraded their cooperation and jointly established Bosch Automotive Diesel Systems Co., Ltd. The company achieved sales of approximately 3.9 billion yuan in 2009. The current issuance plan has yet to be approved by the government. Cord Composite Strapping Machine,Composite Strapping Machine,Strapping Making Machine Maanshan Hellen CNC Machine Tool Co., Ltd. , http://www.powder-compacting-press.com