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fdg electric vehicles ltd (CAOHF) Snapshot

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fdg electric vehicles ltd (CAOHF) Details

FDG Electric Vehicles Limited is an investment holding company. The company, through its subsidiaries, researches, develops, produces, distributes, and sells lithium-ion batteries and related products for automobiles. The company also designs, manufactures, sells, and leases electric vehicles; provides vehicle design services; invests in bank deposits; and offers human resources, administrative management, and consultancy services. It has operations primarily in China, the United States, Canada, Australia, Hong Kong, European countries, and internationally. The company was formerly known as Sinopoly Battery Limited and changed its name to FDG Electric Vehicles Limited in May, 2014. FDG Electric Vehicles Limited was founded in 1990 and is headquartered in Wanchai, Hong Kong.

1,523 Employees
Last Reported Date: 12/17/14
Founded in 1990

fdg electric vehicles ltd (CAOHF) Top Compensated Officers

Deputy Chairman, Executive Director, Member o...
Total Annual Compensation: $1.4M
Senior Executive of the Battery Manufacturing...
Total Annual Compensation: $1.1M
Vice President, Executive Director, Member of...
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2014.

fdg electric vehicles ltd (CAOHF) Key Developments

Smith Electric Vehicles Announces Joint Venture with FDG Electric Vehicles

Smith Electric Vehicles announced Conditional Joint Venture with FDG Electric Vehicles. Smith will invest Smith brand, licence for Newton™ EV design and IP. Strategic partner FDG will invest $15M in cash and $30m in assets, licence for commercial EV design and IP. The New Joint Venture entity to be responsible for US product development, sales and marketing. Smith will be responsible for manufacturing and maintain its right to territories outside of the USA. Smith will hold 20 million shares out of a total of 42.5 million. This represents a holding of 47% for Smith. Smith will distribute all the shares in the New Joint Venture to its common stockholders on a pro rata basis. The agreement is conditional on certain conditions precedent including, inter-alia, necessary government approvals and FDG due diligence. Smith has conditionally agreed to contribute, convey, assign, transfer and deliver to the JV: an exclusive licence for the use of the Smith Intellectual Property (including all know how and trade secrets) in the USA; an exclusive licence for the use of the brand "Smith" and all related goodwill in the USA; the executed OEM Supply Agreement no later than 30 June 2015; the exclusive sales and distribution rights of Electric Vehicles in the USA; the exclusive rights to form a battery rental business in the USA; goodwill including but not limited to Smith's customers; and executed offer letters from certain employees.

FDG Electric Vehicles Limited Announces Change of Company Secretary

The board of directors of FDG Electric Vehicles Limited announced that Ms. Tam Lai Kwan Terry has resigned as company secretary of the Company with effect from 16 March 2015. The Board announced that Ms. Fung Sam Ming has been appointed as company secretary of the Company with effect from 16 March 2015. Ms. Fung is an associate member of The Institute of Chartered Secretaries and Administrators in the United Kingdom.

FDG Electric Vehicles Limited Announces Unaudited Consolidated Cash Flows Result for the Six Months Ended September 30, 2014

FDG Electric Vehicles Limited announced unaudited consolidated cash flows result for the six months ended September 30, 2014. For the period, the company announced net cash used in operating activities of HKD 143,043,000 compared to HKD 62,734,000 for the same period a year ago. Payments for acquisition of fixed assets were HKD 154,527,000 compared to HKD 12,071,000 for the same period a year ago.


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