Nandu Power met fin à la cession de 100 % des actions de sa filiale en propriété exclusive, Huabo Recyclage des Ressources

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Beijing Business News (Reporter Ma Huanhuan, Li Jiaxue) On the evening of March 24, Nandu Power (300068) announced that the company has terminated the transfer of 100% equity of its wholly-owned subsidiary Anhui Huabo Recycling Resources Technology Co., Ltd. (hereinafter referred to as “Huabo Recycling Resources”) and related transaction matters.

The announcement shows that Nandu Power originally planned to transfer 100% equity of Huabo Recycling Resources, which is engaged in lead recycling, to Anhui Houji Lianeng Operation Management Partnership (Limited Partnership). According to the evaluation report, after negotiation between both parties, the acquisition price for the 100% equity held by the company was set at 1.415 billion yuan. After the signing of the “Equity Transfer Agreement” and approval by the board of directors, the acquirer has paid a total of 15 million yuan as a down payment to the transferor in accordance with the agreement.

Nandu Power stated that due to recent changes in the market environment and funding arrangements, it agrees to terminate this equity transfer related matters. The company will return the down payment for the equity transfer as agreed in the agreement, while the commitments related to this transfer of equity in the wholly-owned subsidiary will automatically become invalid. As of the announcement date, the shareholders’ meeting has not yet been held, and the agreement has not yet come into effect. This termination will not have a significant adverse impact on the company’s existing production and operation activities or financial status.

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