Chongqing Wanli New Energy Co., Ltd. is an old enterprise engaged in the research, production and sales of lead-acid battery products. In the first half of 2023, Wanli's parent net profit was approximately 10.01 million yuan.
In January 2022, Wanli announced a plan to reorganize major assets. Wanli proposed to dispose of 100% equity of Wanli Power for 735 million yuan and purchase 48.15% equity of Terri Battery for 1.18 billion yuan. However, one year later, the two sides did not reach an agreement on the acquisition.
In February 2023, Wanli announced the termination of the acquisition of 48.15% equity of Terri Battery. For the failure reason, Wanli said that due to the transaction counterpart believed that the operation of Terri Battery was better than expected, requiring adjustment of the valuation, performance commitment and other core contents of the target company, the two sides failed to reach an agreement.

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