Wanli Holding changes main business into LFP production and sales

Wanli Holding announced on July 18th that it will swap the 100% shares of Wanli Power held by it (namely the swap-out asset) for the 48.Asian Metal CopyrightWanli Holding announced on July 18th that it will swap the 100% shares of Wanli Power held by it namely the swap-out asset for the 48.Asian Metal Copyright15% shares of Terui Battery held by the counterparty (namely the swap-in asset).Asian Metal Copyright23 million by private placement to add investment in Terui Battery and the funds will be used in Terui Battery's project under construction.Asian Metal Copyright The swap-in asset is evaluated at RMB1.Asian Metal Copyright15% shares of Terui Battery held by the counterparty namely the swap-in asset.Asian Metal Copyright18 billion (USD174.Asian Metal Copyright23 million by private placement to add investment in Terui Battery and the funds will be used in Terui Battery's project under construction.Asian Metal Copyright94 million), while the swap-out asset is evaluated at RMB735 million (USD108.Asian Metal Copyright18 billion USD174.Asian Metal Copyright95 million).Asian Metal Copyright Meanwhile, Wanli Holding will raise funds of no more than RMB150 million USD22.Asian Metal Copyright Meanwhile, Wanli Holding will raise funds of no more than RMB150 million (USD22.Asian Metal Copyright The swap-in asset is evaluated at RMB1.Asian Metal Copyright23 million) by private placement to add investment in Terui Battery and the funds will be used in Terui Battery's project under construction.Asian Metal Copyright95 million.Asian Metal Copyright After the transaction is completed, the lead-acid battery business of the listed company will be swapped out and its main business will change into the R&D, production and sales of LFP, a kind of lithium battery cathode material mainly used in new energy vehicle power battery and energy-storage battery fields.


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