CITIC Dicastal Co., Ltd (“CITIC Discastal”) announced the close of the mixed-ownership reform program. Cedarlake Group led the investment by forming a consortium alongside six other prestigious investment entities. Upon completion of the transaction, CITIC Group, through its wholly-owned subsidiaries CITIC Industrial Investment Group and CITIC Xingye Investment Ningbo Co., Ltd., has collectively divested a 57.89% equity interest to the consortium, with a transaction value totaling CNY5.5 billion.

Founded by CITIC Group in 1988, CITIC Dicastal has developed into the world’s largest automotive aluminum parts manufacturer. Its core products include aluminum wheels and lightweight aluminum castings for powertrain, chassis and bodywork. Dicastal's customers includes the top 20 global OEMs and top 10 domestic OEMs. The company has been the No.1 global aluminum wheel producer for 14 years since 2007. Citic Dicastal’s aluminum wheel business held 18% market share in the global OE aluminum wheel market in 2018, maintaining for 11 consecutive years the industry leader in terms of market share in the global aluminum wheel market, and ranking No. 58 among top 100 suppliers of global auto parts supporting suppliers in 2020 published by Automotive News, an authoritative auto media in the U.S..

The Company has global manufacturing presence, inclusive of China (23 sites), Europe (4 in Germany, 1 in Czech ), North America (2 in US) and Africa (1 in Morocco)

Cedarlake played a leading role in the mixed-ownership reform project, demonstrating its strength in investing in advanced manufacturing sectors. Going forward, Cedarlake will leverage its industrial resources to help Dicastal exploit new markets, cross-border investment and cooperation opportunities.