On the evening of June 15, Changyuan Group (600525) issued a transaction progress announcement that the company had made new progress in increasing Hunan Zhongli's capital and Hunan Zhongli's equity to increase Sinopec's lithium film.
It is understood that on the evening of May 18, Changyuan Group announced that the company, together with Gree Venture Capital and Sinopec Technology, planned to increase the total capital of Hunan Zhongli by 1 billion yuan. After the capital increase, all Hunan Zhongli shareholders increased the capital of Hunan Zhongli to Sinamco Lithium Film. After the completion of the transaction, Hunan Zhongli became a wholly-owned subsidiary of Sinopec Lithium Film, and the company held a 26.03% equity stake in Sinopec Lithium Film through two partnerships.
On the evening of June 15, Changyuan Group announced the latest progress announcement. at present, Changyuan Group and Gree Venture Capital have signed the second phase of Changyuan New Energy Cooperation Agreement, and completed the industrial and commercial filing procedures for the change of partners on June 10, 2021. In addition, Changyuan New Energy Phase I and Changyuan New Energy Phase II respectively transferred 10% equity and 20% equity from Hunan Zhongli, and also completed the industrial and commercial formalities for shareholder change on June 10, 2021.
Data show that Changyuan Group's main business involves electric vehicle-related materials, intelligent factory equipment and intelligent Electroweb equipment three major plates, engaged in heat-shrinkable materials, Electroweb equipment, circuit protection original product research and development, production, sales, and so on. According to the 2020 annual report, Changyuan Group's business revenue of "materials related to electric vehicles and other functional materials" is 96.7301 million yuan, accounting for 1.56% of the total revenue.
Sinopec Lithium Film is mainly engaged in the research, manufacture and sales of lithium ion battery diaphragms. After the completion of the industrial and commercial change, Changyuan Group began to increase the capital of Sinomaterial Lithium Film.
Battery Network noted that, benefiting from the market's bullish view on the new energy sector, when Changyuan Group first disclosed the above capital increase plan on the evening of May 18, the company's share price rose sharply the next day; in early trading on June 16, the stock price rose again by the limit of the company's progress announcement. By the close of trading on the 16th, Changyuan Group had risen 7.89%. However, the share price of Changyuan Group fell slightly today (17), falling 2.72% as of 11: 30 a.m.
It is worth mentioning that China Building Materials also issued an announcement on June 15 that Sinopec has signed a debt-to-equity swap agreement with Sinopec Lithium Film, agreeing to increase its capital in the form of debt-to-equity swap, with a total capital increase of RMB 100 million. After the completion of this capital increase, Sinopec will hold a 3.12% stake in Sinopec Lithium Film.
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