Huayou Cobalt intends to acquire 38.6% equity of Bamo Technology for 1.351 billion yuan to strengthen the distribution of cathode materials.

Huayou Cobalt Industry (603799.SH) announced that the company intends to buy its 38.6175% stake in Tianjin Bamo Technology Co., Ltd. (hereinafter referred to as "Bamo Technology") from Hangzhou Hongyuan Equity Investment Partnership (Co., Ltd.). The underlying asset is traded at a price of 1.351 billion yuan.

From the date of completion of the equity delivery under this transaction, Zhejiang Huayou Holdings Group Co., Ltd. (referred to as "Huayou Holdings") entrusted the voting rights corresponding to the 26.4047% stake in Bamo Technology to Huayou Cobalt Co., Ltd. Huayou Cobalt Co., Ltd. controls 65.0222% of the voting rights of Bamo Technology.

It is reported that since its establishment, Bamo Technology has been focused on the research, development and large-scale production of lithium-ion battery materials, and has built domestic industrialization bases of lithium battery cathode materials with high intelligent level and strong comprehensive strength in Tianjin and Chengdu. The market share of the main products lithium cobalt, ternary materials and high nickel materials is in the forefront of the industry, so the underlying assets are of good quality and strong profitability.

The announcement said that through this transaction, the listed company will achieve control over Bamo Technology and will further strengthen the company's layout in the field of cathode materials for lithium batteries. it is an important link and step for the company to develop into a "global leader in lithium battery new energy materials industry".