Focus on Lithium Power and New Energy Storage Nandu Power to transfer controlling shares of two lead-acid battery companies

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On December 18, Nandu Power (300068) announced that in order to adjust the industry and product structure, promote the return of operating funds, and further focus on new energy storage, lithium and lithium recovery business, according to the company's strategic needs for operation and development, effectively alleviate the company's operating capital needs, The company intends to transfer the controlling shares of the two holding subsidiaries engaged in two rounds of civil lead-acid battery business to Yadi Technology Group Co., Ltd. (hereinafter referred to as "Yadi Group").

Specifically, Nandu Power plans to transfer 21% of its holding subsidiary, Jieshou Nandu Huayu Power supply Co., Ltd. (hereinafter referred to as "Nandu Huayu") and 21% of Zhejiang Changxing Nandu Power supply Co., Ltd. (hereinafter referred to as "Changxing Nandu") to Yadi Group, of which Nandu Huayu transaction price is 93.45 million yuan, Changxing Nandu transaction price is 93.45 million yuan.

At the same time, Binzhou Bohan Enterprise Management Consulting Partnership (Limited Partnership), a minority shareholder of Nandu Huayu and Changxing Nandu, plans to transfer its 49% stake in Nandu Huayu and Changxing Nandu to Yadi Group, and give up the preemptive right of 49% stake in Nandu Huayu and Changxing Nandu. Among them, the transaction price of Huayu in Nandu is 218 million yuan, and that of Changxing Nandu is 100, 000 yuan, with a total transaction price of 218 million yuan.

Battery Network learned that the total amount of the deal is 312 million yuan, of which Yadi Group acquired Huayu Energy in Nandu for 312 million yuan and Changxing Nandu Energy at zero price. After the completion of this transaction, Nandu Power will hold 30 per cent of Nandu Huayu and Changxing Nandu, and the control will be transferred to Yadi Group. Nandu Huayu and Changxing Nandu will no longer be included in the scope of the company's consolidated statements. it is estimated that the impact on the net profit of shareholders of listed companies in 2022 is about 203 million yuan, and the impact on owners' equity belonging to shareholders of listed companies is about 424 million yuan.

Data show that Nandu Huayu was established in November 2008, the company is located in Tianying Industrial Park, Jieshou City, Anhui Province, is currently one of the main domestic power battery and plate production enterprises. Changxing Nandu, founded in April 2006, is a professional sales company engaged in electric bicycle batteries, with national sales channels and networks.

Nandu Power said that after the completion of this transaction, the company can reduce financial assistance to subsidiaries, coupled with the receipt of equity transfer, patent transfer and operating transactions, the company can withdraw more funds. On the one hand, the completion of the transaction can alleviate the financial pressure needed for the development and operation of non-public offering companies; on the other hand, optimize assets and industrial structure, reduce operating pressure, and reduce operational risks. The proceeds from this exchange will be used to support the development of new energy storage, lithium battery and lithium battery recovery business.

It is worth noting that this transaction is not only conducive to the focus of Nandu power business, but also conducive to the extension of the industrial chain of Yadi Group. Nandu Huayu and Changxing Nandu have always been the only suppliers of graphene batteries to Yadi Group, and the transfer of the controlling stake to Yadi Group will help to effectively combine Yadi Group's market and brand advantages with the company's technological advantages. further promote to become stronger and bigger.