On the evening of July 7, Bertre (835185) announced that the company's shareholding company Guangdong Fangyuan Environmental Protection Co., Ltd. (referred to as "Fangyuan Co., Ltd.") received a "reply from the China Securities Regulatory Commission on agreeing to the registration of the initial public offering of Guangdong Fangyuan Environmental Protection Co., Ltd." and agreed to the application for registration of Fangyuan shares in the initial public offering of Science and Technology Innovation Board.
As of July 7, Bertre held 48.03 million Fangyuan shares, accounting for 11.20 per cent of its total pre-IPO share capital and was its second-largest shareholder. Fangyuan shares will carry out follow-up work in accordance with the relevant regulations and requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange.
It is reported that Fangyuan Co., Ltd. mainly produces NCA, NCM precursors and spherical nickel hydroxide as cathode materials for nickel batteries, and its main products are NCA ternary cathode materials precursors for high-end electric vehicles. The IPO, Fangyuan shares plan to raise 1.05 billion yuan, all invested in the annual production of 50, 000 tons of high-end ternary lithium precursors (NCA, NCM) and 10, 000 tons of battery lithium hydroxide project.
Fangyuan said that the annual production of 50,000 tons of high-end ternary lithium precursors (NCA, NCM) and 10,000 tons of battery lithium hydroxide projects, on the one hand, to expand the production capacity of high-nickel ternary cathode material precursors, optimize the production process, help the company to solve the problem of insufficient production capacity in the future; On the other hand, it can give full play to the company's technical advantages in the field of comprehensive utilization of non-ferrous metal resources, extract battery-grade lithium hydroxide from lithium battery cathode waste and prepare ternary cathode materials for downstream customers. it will help the company to improve the efficiency of resource utilization, optimize product structure and provide more comprehensive services for downstream customers.
In addition, in terms of performance, Fangyuan expects the company's revenue in the first half of 2021 to be between 830 million yuan and 880 million yuan, an increase of 182.90% to 199.94% over the same period last year; and the net profit attributed to the owner of the parent company will be between 40 million yuan and 45 million yuan, an increase of 867.38% to 988.30% over the same period last year.
