Jinchuan Technology to set up joint venture on Li-battery NCM material busines
2021-04-27 18:01:32 [Print]
Jinchuan Technology announced that its fully owned subsidiary Jintong Corporation plans to set up a joint venture with EVERGRANDI Yunhong New Energy (Shenzhen) Co., Ltd. on Li battery ternary material business. Both sides hope that, by making use of their own advantages in resources, technologies and market strength, they can jointly expand their NCM precursor material business.
The joint venture will have a proposed investment of RMB1 billion (USD0.15 billion), of which RMB660 million (USD102 million) will come from Jintong Corporation, accounting for 66% of the registration capital, and RMB340 million (USD52.46 million) from EVERGRANDI Yunhong in the form of cash, accounting for 34% of the total registration capital.
The joint venture will have a proposed investment of RMB1 billion (USD0.15 billion), of which RMB660 million (USD102 million) will come from Jintong Corporation, accounting for 66% of the registration capital, and RMB340 million (USD52.46 million) from EVERGRANDI Yunhong in the form of cash, accounting for 34% of the total registration capital.
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