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Ningde times proposed 500 million yuan to be transferred to yongtai technology holding subsidiaries of 25% equity

via:财联社     time:2021/11/15 12:04:19     readed:111

Financial Union news Agency (Hangzhou, reporter Wang Bin)The business cooperation of Yongtai Technology (002326.SZ) and Ningde Times (300750.SZ) is increased. Late on November 14, Yongtai announced that Yingke Hengtong, a shareholder in its controlling subsidiary, planned to transfer its 25 per cent stake in Yongtai Xin to Ningde Times for RMB500m. The company agrees to waive the right of preemption of 25% of the equity of Yongtaoxin in the process of equity transfer.

Financial union reporters learned from yongtai Science and technology, Yongtai new expansion of 6000 tons/year project lithium hexafluorophorate plan to put into production in early December, is expected to reach production within 3 months.

In the morning of November 15, the relevant person in charge of the company said to reporters, "After Ningde Times becomes a shareholder of Yong Gao Xin, it will bring more cooperation opportunities for the company, and at the same time make some supplement for the company in technology and strategic direction, and the cooperation degree of both sides in business will be higher. In addition to the business agreements already signed, we hope to enter into deeper cooperation, such as other projects and products under construction. In addition, the company also welcomes other industrial investors and downstream manufacturers in the field of lithium batteries to cooperate."

Reporters paid attention to the equity transfer ningde times did not synchronous announcement. Attempts to contact Ningde Times were not responded to by press time.

Public information shows that Yonggao is newly registered in Jintang Industrial Park, Shaowu City, Fujian Province, and its main products include lithium hexafluorophosphates, lithium difluorosulfonimide (LIFSI) and lithium fluoride. As of September 30, the total assets of Yongtai High-tech are 713 million yuan, and the net assets are 505 million yuan. In the first three quarters of 2021, its operating revenue was 530 million yuan and its net profit 264 million yuan.

Lithium hexafluorophosphate is the most important component of electrolyte, accounting for about 40 percent of the total cost of electrolyte. As the main source of the production capacity of Yongtai Lithium hexafluorophosphates and LIFSI, yongtaoxin currently has 2,000 tons of lithium hexafluorophosphates and 500 tons of new LIFSI. It is expected that the total production capacity of lithium hexafluorophosphates will reach 8,000 tons by the end of 2021.

It is worth noting that in order to obtain more rights and interests, Yongtai Technology has increased the equity of Yongtai High-tech.In August, Yongtai announced plans to acquire a 15 per cent stake in Yongtaoxin for rmb150m. After the acquisition, Wing Tai's stake in Wing Taoxin rose from 60 per cent to 75 per cent. At that time, Yongtai technology said that lithium and other materials are one of the company's key business sectors, yongtaexin as an important carrier of the business sector, the acquisition will help further improve the company's industrial layout.

In the same month, Yongtai Technology announced that yongtai Technology and Ningde Times signed a Material Purchase Agreement, stipulating that Ningde Times purchases lithium hexafluorophosphates, lithium difluoride sulfonimide (LIFSI) and vinyl carbonate (VC) products from the company, and the delivery period is as long as 5 years.

In October, Yongtai Technology again announced that based on the strategic development needs of the company, the original yongtai new construction project "annual output of 20,000 tons of lithium hexafluorophosphates and 1200 tons of related additives and 50,000 tons of hydrofluoric acid industrialization project" will be adjusted to "annual output of 134,000 tons of liquid lithium salt industrialization project".. The new project, with a total investment of 793 million yuan, is expected to generate 5.445 billion yuan in annual revenue and 670 million yuan in annual net profit after its completion.

Since this year, represented by lithium hexafluorophosphate lithium salt product prices soared. According to baichuan Yingfu data, the current average market price of lithium hexafluorophosphate has risen to 540,000 yuan/ton, 404.67% higher than the price at the beginning of the year.

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