Suzhou TA&A Ultra Clean Technology Co.,LTD. completed the acquisition of additional 26% stake in Yibin Tianyi Lithium Industry Co., Ltd. from Changjiang Chendao New Energy Industrial Investment Partnership Enterprise (Limited Partnership).
November 02, 2020
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Suzhou TA&A Ultra Clean Technology Co.,LTD. (SZSE:300390) entered into share transfer agreement to acquire additional 26% stake in Yibin Tianyi Lithium Industry Co., Ltd. from Changjiang Chendao (Hubei) New Energy Industrial Investment Partnership Enterprise (Limited Partnership) for approximately CNY 160 million on September 4, 2020. Within 3 working days from the agreement’s effectivity date, Suzhou TA&A will pay CNY 127,400,000. Within 7 working days from the transfer completion date, Suzhou TA&A will pay the remaining amount. As at December 31, 2019, Yibin Tianyi Lithium Industry had net assets of CNY 421.87 million and total assets of CNY 695.68 million. For the year ended December 31, 2019, Yibin Tianyi Lithium Industry had operating profit of CNY 3.2 million and net profit of CNY 2.4 million. The transaction is subject to Yibin Tianyi Lithium Industry Co., Ltd.’s shareholders’ approval, Changjiang Chendao (Hubei) New Energy Industrial Investment Partnership Enterprise (Limited Partnership)’s investment committee’s approval, Suzhou TA&A's shareholders’ approval and other necessary approvals. The transaction been approved in the 6th Meeting of the Suzhou TA&A’s 5th Directorate. Xu Yuntao and Dai Luofei of Tianfeng Securities Co., Ltd. acted as independent financial advisor, Bao Jinqiao, Si Hui and Chen Yeran of Anhui Chengyi Law Firm acted as legal advisor and Liu Yong, Yu Guohui and Chen Shaoxia of RSM China Certified Public Accountants acted as accountant to Suzhou TA&A Ultra Clean Technology Co.,LTD.
Suzhou TA&A Ultra Clean Technology Co.,LTD. (SZSE:300390) completed the acquisition of additional 26% stake in Yibin Tianyi Lithium Industry Co., Ltd. from Changjiang Chendao (Hubei) New Energy Industrial Investment Partnership Enterprise (Limited Partnership) on November 3, 2020. As of November 3, 2020, Suzhou paid first phase of the payment of CNY 127.4 million and and remaining CNY 34.8 milliomwill be paid within 7 working days from the date of completion of the business.
Canmax Technologies Co., Ltd., formerly Suzhou TA&A Ultra Clean Technology Co LTD, is a China-based company principally engaged in the research, development, production and sale of anti-static ultra-clean products. The Company operates its business through three segments. Anti-static Ultra-clean Product segment provides anti-static ultra-clean products, including human body protection systems, process protection systems and environmental protection systems. Medical Device Product segment provides self-destruction syringes, safety syringes and high pressure syringes. Lithium Battery Material Product segment is mainly engaged in the research and development, production and sales of battery-grade lithium hydroxide. The Company distributes its products in domestic market and to overseas markets.
Suzhou TA&A Ultra Clean Technology Co.,LTD. completed the acquisition of additional 26% stake in Yibin Tianyi Lithium Industry Co., Ltd. from Changjiang Chendao New Energy Industrial Investment Partnership Enterprise (Limited Partnership).