Huayou Cobalt intends to acquire the equity of Bamo Technology to open up the lithium battery material market

by:CTECHi     2021-08-13

Huayou Investment, the second largest shareholder of Huayou Cobalt, signed the 'Agreement on the Share Purchase of Tianjin Bamo Technology Co., Ltd.' with related parties on June 27, intending to acquire 42.02% of the shares of Bamo Technology. After completion, Huayou Investment will become the largest shareholder of Bamo Technology.

Huayou Cobalt: intends to acquire 42% equity of Bamo Technology to open up the lithium battery cathode material market

Recently, China You Cobalt Industry (603799) issued an announcement that the company’s second largest shareholder 'Huayou Investment' had a partnership with Zhongjin Jiatai (Tianjin) Equity Investment Fund Partnership (Limited Partnership), Infotech Venture Capital Co., Ltd., and Xinjiang on June 27. 3 institutions including Tianshan Changfeng Investment Fund Limited Partnership and 22 natural persons including Wang Geng (hereinafter collectively referred to as the 'transaction counterparties') respectively signed the 'Agreement on the Share Purchase of Tianjin Bamo Technology Co., Ltd.You Investment (or its related parties) transferred a total of 60,377,083 shares of Bamo Technology held by it, accounting for 42.02% of the current total shares of Bamo Technology. After the completion of the acquisition, Huayou Investment (or its related parties) will become the largest shareholder of Bamo Technology.

Bamo Technology is now mainly engaged in the research, development and large-scale production of lithium battery cathode materials, and is one of the important customers of Huayou Cobalt. From 2014 to 2016, Huayou Cobalt's sales to Bamo Technology accounted for 4.04%, 2.56%, and 11.73% of the company's current operating income, respectively.

Huayou Cobalt: intends to acquire 42% equity of Bamo Technology to explore the lithium battery cathode material market

It is reported that China Youco's 2016 operating income was 4.889 billion yuan, a year-on-year increase of 21.35%; the net profit attributable to shareholders of listed companies was 69,237,500 yuan, a year-on-year increase of 128.14%. During the reporting period, the company's sales of various cobalt products totaled more than 39,000 tons (more than 20,000 tons of metal equivalent), an increase of approximately 66% over the same period last year.

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