Dynavolt Tech's subsidiary acquires RMB90 million of capital increase
2018-08-03 17:41:17 [Print]
Dynavolt Tech announced on the evening of July 24 that it signed an equity investment contract with its subsidiary Hubei Dynavolt New Energy Tech Co., Ltd., Hanjiang Investment Holding Co., Ltd. and Yicheng Chuye Development Holding Co., Ltd. According to the contract, Hanjiang Investment planned to increase investment of RMB60 million in Hubei Dynavolt, which included 30 million of registered capital and 30 million of capital reserves. Yicheng Chuye Development Holding intended to increase capital for Hubei Dynavolt with RMB15 million of registered capital and RMB15 million of capital reserves, while Dynavolt Tech abandoned the prior subscribed right at the same time.
After the completion of the capital increase, the registered capital of Hubei Dynavolt will increase to RMB145 million from RMB100 million. Dynavolt Tech, Hanjiang Investment and Yicheng Chuye Development Holding will hold 68.97%, 20.69% and 10.34% of shares in Hubei Dynavolt.
The company said that the capital increase of Hanjiang Investment and Yicheng Chuye Development is to fulfill the investment commitment of the people's government of Yicheng in attracting investment for Hubei Dynavolt lithium battery project based on the proportion of 1:1, and is also an investment decision due to good prospect of Hubei Dynavolt. The capital increase is mainly used to supplement the construction and the production operating funds of Hubei Dynavolt, further accelerate the construction speed of the first phase of high-end aluminum shell power battery production line, and advance the project to go into operation as soon as possible.
After the completion of the capital increase, the registered capital of Hubei Dynavolt will increase to RMB145 million from RMB100 million. Dynavolt Tech, Hanjiang Investment and Yicheng Chuye Development Holding will hold 68.97%, 20.69% and 10.34% of shares in Hubei Dynavolt.
The company said that the capital increase of Hanjiang Investment and Yicheng Chuye Development is to fulfill the investment commitment of the people's government of Yicheng in attracting investment for Hubei Dynavolt lithium battery project based on the proportion of 1:1, and is also an investment decision due to good prospect of Hubei Dynavolt. The capital increase is mainly used to supplement the construction and the production operating funds of Hubei Dynavolt, further accelerate the construction speed of the first phase of high-end aluminum shell power battery production line, and advance the project to go into operation as soon as possible.
Lithium Carbonate 99.2%min Delivered China
Unit:RMB/mt
China lithium nickel cobalt manganese oxide producers' number MoM output increase statistics by province by month
Unit: pcs
