Dow Technology spends 1.5 billion yuan to deploy lithium battery materials

　　The announcement shows that as an important domestic supplier of cobalt products, Cana Energy has been focusing on the production of cobalt salt products through wet smelting processes for more than ten years, and has expanded its product line downstream to a ternary precursor through technology accumulation and product development. body. Qingdao Haoxin is an important conductive agent manufacturer in China, and is in a leading position in the conductive agent industry. Its main products are graphene conductive agent and carbon nanotube conductive agent, which are conductive enhancers for lithium batteries.

　　Battery Magazine Today-News April 27, Dow Technology (300409) announced that it intends to acquire the remaining shares of its holding subsidiaries, Jana Energy and Qingdao Haoxin, at a total transaction price of 1.503 billion yuan.

　　The announcement shows that as an important domestic supplier of cobalt products, Cana Energy has been focusing on the production of cobalt salt products through wet smelting processes for more than ten years, and has expanded its product line downstream to a ternary precursor through technology accumulation and product development. body. Qingdao Haoxin is an important conductive agent manufacturer in China, and is in a leading position in the conductive agent industry. Its main products are graphene conductive agent and carbon nanotube conductive agent, which are conductive enhancers for lithium batteries.

　　Dow Technology has been actively deploying the new energy materials industry since 2016, and has successively invested and controlled Qingdao Haoxin and Jana Energy. In 2017, Dow Technologies publicly issued convertible bonds to raise funds for the construction of the "Lepidolite Comprehensive Development and Utilization Industrialization Project", which uses lepidolite as a raw material to produce lithium carbonate. So far, Dow Technology has formed a more comprehensive industrial chain in the field of lithium battery materials.

　　In May 2015, the "Made in China 2025" issued by the State Council listed "new energy vehicles" and "graphene" as key development areas; in October 2016, the Ministry of Industry and Information Technology issued the "Non-Ferrous Metal Industry Development Plan (2016-2020)" , Clearly stated that “focusing on the development of large-capacity and long-life energy storage battery cathode materials, anode materials, high-performance copper foil and aluminum foil, as well as low-cost and high-quality battery-grade lithium carbonate, ternary "Precursors, etc."; In November 2017, the National Development and Reform Commission issued the "Three-year Action Plan to Enhance the Core Competitiveness of Manufacturing Industry (2018-2020)", which included "graphene" as a key task for the industrialization of key technologies for new materials. It can be seen that the state attaches great importance to supporting industries such as new energy vehicles and batteries, graphene materials, and the subsidy policy has greatly promoted the development of the new energy vehicle industry, thus creating a good outside condition.

　　In 2016 and 2017, Jana Energy’s operating income was 688 million yuan and 1.35 billion yuan, and net profits were 31.7792 million yuan and 238 million yuan; Qingdao Haoxin’s operating income was 62.368 million yuan and 113 million yuan, respectively. , The net profit was 16.12 million yuan and 23.98 million yuan respectively, and the performance showed a rapid growth trend.

　　The vigorous development of new energy vehicles and lithium battery industries drives the growth of upstream cobalt products and conductive agent products consumption. As important suppliers in their respective fields, Cana Energy and Qingdao Haoxin rely on their strong technical reserves and stable major customers Channels and efficient management team, seize market development opportunities and share industry development dividends.

　　In order to further strengthen the control of the two subsidiaries, further optimize the allocation of internal resources, and give full play to the synergy of various businesses, after the transaction parties reached an agreement, Dow Technology intends to issue to Yuanwei Investment and New Hualian Holdings (000036) The shares purchase its total 49% equity of Jana Energy at a transaction price of RMB 1.323 billion; it plans to issue shares to Wang Lianchen and Dong Angang and pay cash to Wei Chen to purchase the 45% equity of Qingdao Haoxin held by him in total. The price is 180 million yuan. After the completion of this transaction, Cana Energy and Qingdao Haoxin will become wholly-owned subsidiaries of Dow Technology.

　　Dow Technology stated that this transaction is a strategic move for the company to further deepen its deployment in the new energy materials industry.