Guangdong DaZhi Environmental Protection Technology Incorporated Company completed the acquisition of remaining 20% stake in Hunan Xinminya New Energy Technology Co., Ltd. and a 20% stake in Sichuan Xinminya Battery Technology Co., Ltd. from Lingpa New Energy Technology Co., Ltd.
June 31, 2020
Share
Guangdong DaZhi Environmental Protection Technology Incorporated Company (SZSE:300530) signed an equity transfer agreement to acquire remaining 20% stake in Hunan Xinminya New Energy Technology Co., Ltd. and a 20% stake in Sichuan Xinminya Battery Technology Co., Ltd. from Lingpa New Energy Technology (Shanghai) Co., Ltd for CNY 7.9 million on April 28, 2020. Guangdong DaZhi Environmental Protection Technology will pay the entire transfer price to the bank account designated by Lingpa New Energy Technology before the transfer no later than June 30, 2020. Pre deal, Guangdong DaZhi Environmental Protection Technology owned 80% stake and post completion, it will own 100% stake in each Hunan Xinminya New Energy Technology and Sichuan Xinminya Battery Technology.
For the year ending December 31, 2019, Hunan Xinminya reported total assets of CNY 344.4 million, net assets of CNY 30.2 million, operating revenue of CNY 0, operating loss of CNY 9.8 million and net loss of CNY 9.8 million. For the year ending December 31, 2019, Sichuan Xinminya Battery Technology reported total assets of CNY 261.4 million, net assets of CNY 26.3 million, operating revenue of CNY 51.5 million, operating loss of approximately CNY 6 million and net loss of approximately CNY 6 million. There is no need for approval from the shareholders’ meeting of Guangdong DaZhi Environmental Protection Technology for the deal. The transaction was approved on April 28, 2020 by the fifth meeting of the 4th Directorate of Guangdong DaZhi Environmental Protection Technology. As on May 27, 2020, industrial and commercial change registration of Sichuan Xinminya Battery Technology Co., Ltd. is completed and Guangdong DaZhi Environmental Protection Technology Incorporated Company now holds 100% stake in Sichuan Xinminya.
Guangdong DaZhi Environmental Protection Technology Incorporated Company (SZSE:300530) completed the acquisition of remaining 20% stake in Hunan Xinminya New Energy Technology Co., Ltd. and a 20% stake in Sichuan Xinminya Battery Technology Co., Ltd. from Lingpa New Energy Technology (Shanghai) Co., Ltd on June 1, 2020.
Hunan Lead Power Technology Group Co Ltd, formerly Hunan Lead Power Technology Inc Co, is a China-based company mainly engaged in the new energy battery business. The Company is also engaged in surface engineering chemicals business. The new energy battery business focuses on the research and development, production and sales of new energy vehicle power batteries and energy storage battery products, and product categories cover batteries, modules, and system integration. The main products of the surface engineering chemicals business include coating additives and coating intermediates, which are widely used in automobiles, machinery, electronic materials, coatings, construction, ships, aerospace and other fields.
Guangdong DaZhi Environmental Protection Technology Incorporated Company completed the acquisition of remaining 20% stake in Hunan Xinminya New Energy Technology Co., Ltd. and a 20% stake in Sichuan Xinminya Battery Technology Co., Ltd. from Lingpa New Energy Technology Co., Ltd.
HUNAN LEAD POWER TECHNOLOGY GROUP CO., LTD. 
