Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) completed the acquisition of an agreement to acquire 5.25% in Jolywood Sunwatt Co., Ltd. from Lin Jianwei and Suzhou Pule Investment Management Co., Ltd.
March 21, 2021
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Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) signed an agreement to acquire 3.6% in Jolywood (Suzhou) Sunwatt Co., Ltd. (SZSE:300393) from Lin Jianwei and Suzhou Pule Investment Management Co., Ltd. for approximately CNY 230 million on January 27, 2021. Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) signed an agreement to acquire 5.25% in Jolywood (Suzhou) Sunwatt Co., Ltd. from Lin Jianwei and Suzhou Pule Investment Management Co., Ltd. for approximately CNY 330 million on January 27, 2021. As per terms, 28.3 million shares will be acquired at CNY 8.19 per share. Lin Jianwei will transfer 21.8 million shares and Suzhou Pule Investment Management Co., Ltd. will transfer 6.5 million shares. As per the new terms, 40.86 million shares will be acquired at CNY 8.19 per share. Lin Jianwei will transfer 34.3 million shares and Suzhou Pule Investment Management Co., Ltd. will transfer 6.5 million shares. Post completion, Lin Jianwei, Suzhou Pule Investment Management Co., Ltd., Suzhou Pule Investment Management Co., Ltd. and Taizhou Jiangyan Daode New Material Equity Investment Partnership Enterprise (Limited Partnership) will hold 16.58%, 12.46%, 0.91% and 10.95% respectively. Within 5 trading days after the agreement signing date, Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) will pay not less than CNY 185 million and pay the remaining amount 1 day before the transfer.
Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) completed the acquisition of an agreement to acquire 5.25% in Jolywood (Suzhou) Sunwatt Co., Ltd. from Lin Jianwei and Suzhou Pule Investment Management Co., Ltd. on March 22, 2021.
Jolywood (Suzhou) Sunwatt Co.,Ltd. is a China-based company principally engaged in the solar photovoltaic business. The Company operates its business mainly through three segments. The Backsheet segment mainly provides a range of photovoltaic back film products, such as patented fluorocarbon inner coating (FFC) structure, Tedlar Polyester Tedlar (TPT) structure, Tedlar Fluoropolymer Bachsheet (TFB) structure, K-class Fluoropolymer Bachsheet (KFB) structure and primer/polyethylene terephthalate (MLP) structure. The High-efficiency Battery segment mainly provides N-type single crystal bifacial solar cells. The Photovoltaic Application System segment mainly provides distributed photovoltaic power plants, agricultural light complementary power plants and household photovoltaic projects. The Company distributes its products in domestic market and to overseas markets.
Taizhou Jiangyan Daode New Material Equity Investment Partnership (Limited Partnership) completed the acquisition of an agreement to acquire 5.25% in Jolywood Sunwatt Co., Ltd. from Lin Jianwei and Suzhou Pule Investment Management Co., Ltd.