Wachovia new materials: plan to buy production equipment related to wet diaphragm project of power lithium battery for $258 million

Wachovia New Materials (300586.SZ) announced that the company held the 30th meeting of the third board of directors and the second interim general meeting of shareholders in 2021 on March 30 and April 15, 2021, respectively. The motion on setting up a holding subsidiary and changing the main body and plan of the construction project of wet diaphragm industrialization of power lithium battery and related transactions was examined and adopted. It is agreed that the company and Huang Kunyu, Huang Lianxiong, Chen Yumao, Lin Hua, Mai Zhuoyun and Geng Defeng jointly contributed 300 million yuan to set up Anhui Meixin New Materials Co., Ltd. ("Meixin New Materials"). The main body of the construction project of wet diaphragm industrialization of power lithium battery was changed from Guangdong Meilian diaphragm Co., Ltd to Meixin new material.

In order to promote the smooth implementation of the project, the company's holding subsidiary, Mei Xin Xin, decided to purchase the production equipment related to the project from Zipu Machinery Co., Ltd. Recently, Maxim New Materials and the other party signed a "sales contract" with the contract numbers of AMNM/SMJ (# 1)-2106, AMNM/SMJ (# 2)-2106, AMNM/SMJ (# 3)-2105 and AMNM/SMJ (# 4)-2105, respectively. The total price of the above four contracts is equivalent to about 258361600 yuan. Mei Core New Materials plans to raise funds to pay for the purchase of the above-mentioned equipment in the form of its own funds and bank loans.

The smooth implementation of this contract can ensure that the key equipment of the power lithium battery wet diaphragm industrialization construction project of the subsidiary of the company is in place and put into production as scheduled, which has a positive impact on speeding up the progress of the project and promoting the project to achieve the expected production capacity.