on november 19th, 2018, mingshuo (beijing) electronic technology co., ltd. and argentina’s yutong investment development co., ltd. signed a strategic cooperation agreement. du yutong, general manager of yutong investment development co., ltd., zhang ying, general manager of yutong international trade co, ltd. (beijing), feng weidong, deputy ceo of tunghsu optoelectronic, and dr. chen wei, founder and general manager of ms technology attended the signing ceremony. feng yadong, deputy secretary-general of china solid state lighting alliance (csa), wang youzhi, deputy director of international cooperation department, csa, also joined the event and witnessed this exciting moment.
according to the strategic cooperation agreement between the two sides, ms technology will actively develop projects of future city salon, smart city demonstration and energy-saving streetlamp in argentina, by working together with and leveraging the good influence yutong investment has in the country. as per the agreement, both sides will first cooperate in developing projects for smart city demonstration and then set up a special-purpose entity or a joint venture to explore project resources. the first cooperation project involves the replacement of 150,000 streetlamps with energy-saving streetlamps, which will cost us$50 million. in the first quarter of next year, the company will supply 30,000 streetlamps, and the remaining streetlamps will be supplied over a span of two years. during the cooperation, both sides will give full play to their respective resource advantages, promote cooperation on all aspects in the field of smart cities, smart manufacturing, new energy buses, photovoltaic power plants, sewage treatment, environmental protection, and financial services.
dr. chen wei, the founder of ms technology said:
“our cooperation with yutong investment will enable ms technology to expand its graphene market overseas and integrate resources. ms technology’s advantages in new materials, new technologies, new smart technologies, new equipment, the internet of things, and big data will be further integrated with market needs, and help promote development of cutting-edge technologies in both companies. it will also create conditions and opportunities for the globalization of tunghsu’s graphene industry, thereby achieving win-win results for yutong investment.”
du yutong, general manager of yutong investment said:
“tunghsu group’s industrial application of graphene technology is leading the world. the successful application of graphene streetlamps integrates new materials, new technologies, new smart technologies, new equipment, the internet of things and big data, and has greatly boosted the smart management of cities. yutong investment will focus on applying these products in argentina. at the same time, smart cities, new energy buses, photovoltaic power plants and financial investments are complementary to yutong’s existing businesses, and thus, both companies can initiate in-depth cooperation on all aspects to achieve mutual development.”
feng weidong, deputy ceo of tunghsu group said:
“tungshu optoelectronic is focused on overseas marketing. i hope we can have in-depth and comprehensive strategic cooperation with yutong investment, and integrate both sides’ industry and market resource advantages, to take products into the south american market and to further expand the scope of cooperation. i hope that ms technology continues to increase its investment in r&d and maintains product quality. ms technology needs to establish a positive brand image of tunghsu group by delivering high-quality “made in china” products to customers across the world. furthermore, i hope both companies promote win-win cooperation in industries such as new energy buses, photovoltaic power plants, environmental protection, energy saving, and financial services.”
feng yadong, deputy secretary-general of csa said:
“firstly, i would like to congratulate ms technology, tunghsu and yutong on their cooperation, and i hope they can achieve exponential development as they participate in the mission to illuminate the ‘belt and road initiative’, led by the alliance. with support from relevant state departments, we will continue to promote this mission and actively support major private enterprises like tunghsu group to enter international markets and integrate superior technology and products with international market demands, to guide the development of the entire industry.
both companies will invest in argentina. the close cooperation this time in argentina features the “future city salon”, an innovative cross-border business model first created by ms technology. the future city salon involves showcasing the technology industry, laboratories, data centers and digital factories related to new graphene material, smart manufacturing, and the internet of things. the salon will upgrade industries in argentina, improve their technology level and promote the application of urban digitization.
to deepen cooperation in argentina’s local market, both companies will establish a project company to jointly bid and invest in the pilot project of transforming 150,000 streetlamps in santa fe, neuquén, corrientes, jujuy, cordoba, chaco, entre ríos, san juan, tucumán, buenos aires, and other cities, into energy-saving streetlamps. this smart lighting project adheres to the philosophy of green low-carbon development. it has ushered in a new era of cooperation in urban management, and is playing an integral part in improving urban management efficiency, lowering maintenance cost and improving the smart level of cities.
with the development of the belt and road initiative, and as a leader in the graphene lighting industry, an advocate of green low-carbon lighting and a pioneer of smart road technologies (internet of things), ms technology is actively seizing development opportunities, grasping market characteristics, developing its own brand, and working hard to expand its overseas market and improving its international brand image and recognition. yutong investment is actively looking at potential projects, working towards finding suitable opportunities, and is integrating advantages of both sides to exploit the south american market along with ms technology. it is implementing large-scale projects to transform streetlamps, and is working together with ms technology to develop new smart city construction and other similar projects, making each and every effort to be included in the list of projects supporting the belt and road initiative of both countries.