On the evening of April 23rd, China Baoan (000009) issued an announcement that the company examined and passed the motion on the transfer of the equity of Bertre (Tianjin) Nanomaterials Manufacturing Co., Ltd. And Jiangsu Beit Nano Technology Co., Ltd.
It is reported that Beit Rui New Materials Group Co., Ltd. (hereinafter referred to as "Beit"), a subsidiary of Baoan, China, and Jiangsu Longyi Technology Co., Ltd. (hereinafter referred to as "Dragon Technology") signed on December 25, 2020 the Framework Agreement on the acquisition of Lithium Iron Phosphate related assets and Business of Beit Rui New Materials Group Co., Ltd. Longyi Technology intends to acquire Lithium Iron Phosphate-related assets and businesses within the scope of its consolidated statements through itself or its subsidiaries, and Beitri agrees to acquire the above-mentioned underlying assets and businesses.
After negotiation, Bertre, Longyi Technology, Nanjing Kimberly Venture Capital Center (limited partnership), Changzhou Uberi Venture Capital Center (limited partnership), Shenzhen Bertre Nano Technology Co., Ltd. (hereinafter referred to as "Bertrand Nano"), Bertre (Jiangsu) New Materials Technology Co., Ltd. (hereinafter referred to as "Jiangsu Beitre") and other parties intend to sign the Equity transfer Agreement between Beitre (Tianjin) Nanomaterials Manufacturing Co., Ltd. And Jiangsu Beit Nano Technology Co., Ltd., Jiangsu Longyi Technology Co., Ltd., Nanjing Kimberly Venture Capital Center (limited partnership), Shareholder Agreement of Changzhou Uber Venture Capital Center (Limited Partnership) on Changzhou Liyuan New Energy Technology Co., Ltd., It is proposed to transfer the 100% equity interest in Beit Rui (Tianjin) Nanomaterials Manufacturing Co., Ltd. (hereinafter referred to as "Tianjin Nano") held by Beit Nano and Jiangsu Beit Nano Technology Co., Ltd. (hereinafter referred to as "Jiangsu Nano") to Changzhou Liyuan New Energy Technology Co., Ltd. (provisional name), with a total transaction price of 844 million yuan. Among them: the transfer consideration of 100% equity of Tianjin Nano is 329 million yuan; The transfer consideration for the 100% stake in Jiangsu Nano is 516 million yuan.
China Baoan said that Bertre's proposed transfer of shares in Tianjin Nano and Jiangsu Nano and the sale of assets and businesses related to lithium iron phosphate was to focus resources on its core business and would not have a significant adverse impact on its sustainability. If this transaction is successful, it is expected to increase the company's net profit by about 138 million yuan.
In addition, the announcement also shows that Changzhou Liyuan New Energy Technology Co., Ltd. has not yet been established, which is a company set up specifically for this transaction. Its registered capital is estimated to be 315 million yuan, of which Jiangsu Longyi Science and Technology Co., Ltd., which is controlled by Longyi Technology, holds 73.33% of the shares. By the end of 2020, Longyi Technology, the controlling shareholder of Changzhou Liyuan New Energy Technology Co., Ltd., had total assets of 2.956 billion yuan, net assets of 1.924 billion yuan, operating income of 1.915 billion yuan and net profit of 203 million yuan. In the first quarter of this year, Longfu Technology's revenue was 595 million yuan, up 89.36 percent from the same period last year, and its net profit was 50.5157 million yuan, an increase of 143.34 percent over the same period last year.
The Battery Network noted that Longchuan Technology is mainly engaged in the research, development, production and sales of automotive environmental protection fine chemicals. the main products include lubricating oil, engine coolant, diesel engine exhaust treatment liquid, vehicle care products equal to one of the automotive environmental protection fine chemical product system, the products are widely used in automotive manufacturing, automotive aftermarket, construction machinery and other fields. On the basis of the existing business which is mainly used in the field of traditional fuel vehicles, the business tentacles continue to extend to the field of new energy.
On March 16 this year, Longyi Science and Technology announced that Sichuan Liyuan, a wholly-owned grandson, plans to jointly invest in the establishment of Sichuan Yingda Lithium New Materials Co., Ltd. (referred to as "Yingda Lithium") with Guangzhou Penghui Energy Technology Co., Ltd., Hangzhou Rushan Huiyou Venture Capital Partnership (limited partnership), Hunan Hongyue Battery material Co., Ltd., Changsha an dynamic Liangneng Enterprise Management Consulting Partnership (limited partnership). Sichuan Liyuan plans to contribute 23 million yuan and hold a 19.09 per cent stake in Yingda Lithium Power. According to the announcement, Yingda Lithium Power is registered in Pengxi Economic Development Zone, Sichuan Province. Its main business scope is research and development, production and sales of lithium iron phosphate precursors. The overall registered capital will reach 120 million yuan.
On March 22, the project of production base of Sichuan Suining Industrial Park of Longchuan Science and Technology was officially started. The first phase of the project plans to build 200000 tons of engine exhaust treatment liquid and 25000 tons of lithium iron phosphate battery materials, which are expected to be completed and put into production by the end of this year.
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