Ganfeng overweight battery industry -Lithium - Ion Battery Equipment

Ganfeng lithium industry overweight battery industry -Lithium - Ion Battery Equipment

Ganfeng Lithium (002460) announced at noon on July 30 that the company's board of directors agreed to increase its capital by 200 million yuan in its wholly-owned subsidiary Jiangxi Ganfeng Battery Technology Co., Ltd. (referred to as "Ganfeng Battery"). County Ganfeng Lithium Industry Co., Ltd. ("Ningdu Ganfeng" for short) increased its capital by RMB 390 million.

The announcement shows that the original registered capital of Ganfeng Battery is 300 million yuan, and the registered capital after the capital increase is 500 million yuan, and the company holds 100% of its equity; the original registered capital of Ningdu Ganfeng is 10 million yuan, and the registered capital after the capital increase is 10 million yuan. 400 million yuan, the company holds 100% of its equity. At the same time, Ganfeng Lithium authorized the management of the company to go through the industrial and commercial change registration procedures for capital increase.(Lithium - Ion Battery Equipment)

The announcement shows that Ganfeng Battery’s main business is R&D, production, and sales of lithium-ion batteries, nickel-metal hydride batteries, sodium-sulfur batteries, rechargeable batteries, portable electronic products and their combination products and related spare parts, as well as the supply of related product design, Technical consultation and after-sales service. In 2017 and from January to March this year, the company achieved operating income of 107 million yuan and 22.101 million yuan respectively, and net profit of -11.2066 million yuan and -4.0793 million yuan. Ningdu Ganfeng is mainly engaged in the production, processing and sales of non-ferrous metals, battery-grade lithium carbonate, chemical raw materials and chemical products; it operates the export business of the company's own products and technologies, as well as the machinery and equipment, spare parts, raw and auxiliary materials required by the company. The import business of materials and technologies has no revenue at present.

Ganfeng Lithium stated that this capital increase is to expand the capital strength of the wholly-owned subsidiary and ensure the capital demand for the project investment of the wholly-owned subsidiary. This capital increase will not change the company's shareholding ratio in wholly-owned subsidiaries, will not have a significant impact on the company's future financial status and operating results, and will not harm the interests of the company and all shareholders.

Ganfeng Lithium announced on the same day that the company's 22nd meeting of the fourth board of directors held on July 29, 2018 reviewed and approved the "Relevant to realize the pilot line of the research and development of solid-state lithium-ion batteries of Zhejiang Feng Lithium, a wholly-owned subsidiary of the company." "Proposal on the Assessment and Reward Methods of the First Phase of the Project", after verification, Zhejiang Fengli New Energy Technology Co., Ltd. (hereinafter referred to as "Zhejiang Fengli"), a wholly-owned subsidiary of the company, completed the first-generation solid-state lithium-ion battery research and development pilot test as scheduled. The first-phase performance assessment indicators of the online project, the stipulated conditions of this reward method have been fulfilled, and the company agreed to honor the first-phase rewards of this project to 22 eligible reward objects.



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