Bank Of China Cashmere Co., Ltd. (000982): Plans To Acquire 70% Equity Of Wanguan Industry With RMB 277 Million

Bank of China (000982) announced on the evening of November 16 that in order to meet the needs of strategic planning and business development of the company and expand the company's investment and layout in the field of new energy industry and special graphite, the company intends to sign the equity transfer agreement with Mr. Zhao wancang, the shareholder of Henan Wanguan Industrial Co., Ltd. According to the agreement, the company plans to transfer 70% equity of Wanguan industry held by Mr. Zhao wancang with its own capital of 277 million yuan. After the completion of the transaction, Wanguan industrial will become the holding subsidiary of the company and be included in the scope of the company's consolidated statements.

The acquisition of Wanguan industrial meets the company's strategic planning and production and operation needs. Wanguan industry, the subject of this transaction, has obtained the relevant approval for the production project of 30000 tons of special graphite products annually, and now has the production capacity of 15000 tons of special graphite products, with the integrated production and processing capacity of calcination, grinding, kneading, pressing, impregnation and graphitization treatment, and has isostatic pressing roasting, kneading, pressing, impregnation and graphitization treatment At the same time, we also have the ability of graphite processing for lithium batteries.

Through this equity acquisition, the company has expanded its investment and layout in the new energy industry and special graphite field. The company can further integrate and develop the production and operation, technology research and development, market channels and operation management of the target company with the company's existing business, which can not only improve the company's revenue scale, but also help the company further enhance its profitability Comprehensive competitiveness and sustainable development ability.