On the evening of November 5, Huayou Co (603799) announced that in order to further improve the company's layout in the field of lithium battery cathode materials business, enhance the company's comprehensive competitive strength, the company intends to acquire 100% equity of Shengvanadium Technology, expand the lithium iron phosphate business. After deliberation and approval at the 24th meeting of the fifth Board of Directors of the company, bamo Technology, the holding subsidiary of the company, and Huayou Holdings signed the "Letter of Intent for Equity Acquisition", in which Bamo Technology intends to pay cash or issue new shares to Huayou Holdings to acquire its 100% equity of Shengvanadium Technology.
Data shows that Ba Mo technology is the holding subsidiary of China cobalt industry. As of the announcement date, the company holds 38.6175% of the equity of BAMo Technology, while Huayou Holdings entrusts the voting rights of 26.4047% of the equity of Bamo Technology to the company, and the company controls 65.0222% of the voting rights of Bamo Technology in total. Huayou Holding is the controlling shareholder of the company, holding 16.42% of the company's equity, while Huayou Holding and Chen Xuehua holding 23.35% of the company's equity.
According to the Listing Rules of Shanghai Stock Exchange and other relevant provisions, Huayou Holdings is an affiliated legal person of the company, and this transaction constitutes a related transaction. The final pricing of Sunvanadium Technology shall be based on the appraisal value of all shareholders' rights and interests of the target company confirmed in the asset appraisal report issued by the asset appraisal agency, and shall be determined by both parties through negotiation.
According to Huayou Co, lithium iron phosphate material is also an important technology route in lithium battery cathode material. Expanding lithium iron phosphate material business is an important measure for the company to transform into a leading enterprise in the global new energy lithium electric material industry. The company increases the layout in the field of lithium iron phosphate materials, which is conducive to the company to build a more comprehensive and competitive new energy lithium electric industry ecology. At the same time, the acquisition of Shengvanadium Technology into the scope of the company's consolidated statements will help reduce the scale of related transactions of the company, improve the standard operation level of the company, in line with the interests of the company and all shareholders. This acquisition will not have a material impact on the company's financial position and operating conditions for the current year.
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