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Is Ningbo Zhonghui Automobile a subsidiary of SASAC?

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Ningbo Zhonghui Automobile is a joint venture between Shanghai Zhonghui Automobile Manufacturing Co., Ltd. and Ningbo Industrial Investment Group under the State-owned Assets Supervision and Administration Commission of Ningbo.

Ningbo Zhonghui Automobile Axle Manufacturing Co., Ltd. (hereinafter referred to as Ningbo Axle) is located in the beautiful riverside city of Ningbo, with convenient transportation, which is 0/5km from Ningbo Airport13km from Railway Station/KLOC-0, 20km from Beilun Port, a deep-water port in the east. Founded in 199 1, the company is a joint venture between Shanghai Zhonghui Automobile Manufacturing Co., Ltd. and Ningbo Industrial Investment Group Co., Ltd., with two wholly-owned subsidiaries (Hefunafa and Jinqiao Company) and two assembly bases (Nanjing base and Wuxi base).