Baoli New Energy Technology Co., Ltd. agreed to acquire 42% stake in Jiawei Renewable Energy Co., Ltd. from Gu Jian, Tian Lihua and Gu Jun. for CNY 5.7 million.
November 12, 2020
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Baoli New Energy Technology Co., Ltd. (SZSE:300116) agreed to acquire 42% stake in Jiawei Renewable Energy (Wuxi) Co., Ltd. from Gu Jian, Tian Lihua and Gu Jun. for CNY 5.7 million on November 13, 2020. As per terms of transaction, Baoli New Energy Technology Co., Ltd. will acquire 32% stake for CNY 5.4 million from Gu Jian, 7% stake for CNY 0 from Tian Lihua and 3% stake from Gu Jun for CNY .03 million. Baoli New Energy Technology Co., Ltd. will made a investment of CNY 35.5 million in Jiawei Renewable Energy (Wuxi) Co., Ltd. Shenzhen Jiawei Energy Storage Technology Co., Ltd will withdraw the "jiawei" trademark, and the Jiawei Renewable Energy (Wuxi) Co., Ltd. shall no longer use the "jiawei" trademark. In a related transaction, Baoli New Energy Technology Co., Ltd. ) agreed to acquire 29% stake in Jiawei Renewable Energy (Wuxi) Co., Ltd. from Shenzhen Jiawei Energy Storage Technology Co., Ltd. for CNY 1. Post completion, Baoli New Energy Technology Co., Ltd will hold 71% stake, Tian Lihua and Gu Jun will hold 14% stake and 4% stake repectively in Jiawei Renewable Energy (Wuxi) Co., Ltd. As on September 30, 2020, Jiawei Renewable Energy (Wuxi) Co., Ltd reported total assets of CNY 13.996600 million and net assets of CNY 8.794700 million. Transaction is approved by the shareholder of Jiawei Renewable Energy (Wuxi) Co., Ltd.
Blivex Energy Technology Co Ltd, formerly Shaanxi J&R Optimum Energy Co Ltd, is a China-based company principally engaged in research and development, production and sales of lithium-ion batteries and battery packs. The Company's main products include cylindrical lithium iron phosphate and ternary battery packs, soft-pack lithium iron phosphate and ternary battery packs and others which are used in low-speed electric vehicles, portable energy storage, home energy storage and other markets. The Company conducts its business in the domestic and foreign markets.
Baoli New Energy Technology Co., Ltd. agreed to acquire 42% stake in Jiawei Renewable Energy Co., Ltd. from Gu Jian, Tian Lihua and Gu Jun. for CNY 5.7 million.
BLIVEX ENERGY TECHNOLOGY CO., LTD 
