Chuanjinnuo: Wholly-Owned Subsidiary to Acquire 100% Equity of Yingkou Chuanxinnuo

Chuanjinnuo announced that its wholly-owned subsidiary Guangxi Chuanjinnuo New Energy Co plans to acquire 100% equity of Yingkou Chuanxinnuo High-tech Co. The total transaction price is temporarily estimated at 75 million yuan.

Yingkou Chuanxinnuo is acquiring the assets and business of AVIC Cigna (Yingkou) High-tech Co. related to lithium iron phosphate. After the acquisition is completed, Yingkou Chuanxinnuo will have the normal production and sales capacity of lithium iron phosphate.

As of now, the asset acquisition of Yingkou Chuanxinnuo has not been completed, and the progress of this transaction still needs to meet the prerequisite of "the completion of the asset acquisition of Yingkou Chuanxinnuo".

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