Aoyang Shunchang announced that it intends to acquire a 40% stake in Jiangsu Luwei Lithium Energy Co., Ltd. with a cash payment of 600 million yuan. The company's stock resumed trading on April 12.
Jiangsu Luwei's main business is to provide inspection and packaging services for lithium batteries. Jiangsu Luwei promised to achieve a net profit of not less than 360 million yuan for the three years from 2016 to 2018.
Aoyang Shunchang said that Jiangsu Luwei has certain market competitiveness in the lithium battery industry. The company will rely on Jiangsu Luwei to carry out lithium battery products business, and expand its emerging business on the basis of expanding and strengthening its existing main business. Improve the industrial layout and create new profit growth points for the company.
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