Anshan Heavy Duty Mining Machinery Co., Ltd. signed a Cash Purchase of Assets Intention Agreement to acquire 51% stake in Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. from Gongqingcheng Qiangqiang Investment Partnership Enterprise (Limited Partnership).
August 05, 2021
Share
Anshan Heavy Duty Mining Machinery Co., Ltd. (SZSE:002667) signed a Cash Purchase of Assets Intention Agreement to acquire 51% stake in Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. from Gongqingcheng Qiangqiang Investment Partnership Enterprise (Limited Partnership) on August 5, 2021. Currently, Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. is held up to 51% by Gongqingcheng Qiangqiang, 32.83% by Zhang Qiangliang and 16.17% by Zhang Hongbin. Anshan Heavy Duty Mining Machinery Co., Ltd. will use its own funds to finance the deal. The New Intent Agreement signed this time is the initial intention of the parties to the transaction and is still in the planning stage. As per terms the transaction is conditional upon a third-party agency conducting due diligence and a formal agreement signing on this basis to determine the transaction price, terms and details. The subsequent signing of a formal agreement still needs to be submitted to the general meeting of shareholders of Anshan Heavy Duty Mining Machinery Co., Ltd. for deliberation.
Willing New Energy Co Ltd, formerly Anshan Heavy Duty Mining Machinery Co Ltd, is a China-based company mainly engaged in lithium battery new energy business. The Company's main businesses include lithium ore beneficiation, basic lithium battery raw material lithium salt processing and smelting business, as well as construction machinery and equipment manufacturing business. The construction machinery manufacturing business is mainly engaged in the research and development, manufacturing, sales and service of mining, construction and road construction machinery and equipment. The Company's main products include lepidolite and lithium carbonate. The Company's products are ultimately used in new energy vehicles, energy storage fields, among others.
Anshan Heavy Duty Mining Machinery Co., Ltd. signed a Cash Purchase of Assets Intention Agreement to acquire 51% stake in Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. from Gongqingcheng Qiangqiang Investment Partnership Enterprise (Limited Partnership).