Huitian New Material to acquire 51% equity of Hualan Technology
Click:0    DateTime:Dec.22,2023

Recently, Shanghai Huitian New Material Co., Ltd. announced that it plans to acquire no less than 51% equity of Anqing Hualan Technology Co., Ltd. (hereinafter referred to as Hualan Technology).

Huitian New Material stated that this transaction is aimed at accelerating the company's capacity layout in lithium battery anode glue production and promoting the company's strategic business development of new energy vehicles and power battery glue. Specifically, Huitian New Material plans to acquire no less than 51% equity of Hualan Technology through an equity transfer. The final transaction plan and transaction amount involved in the acquisition still need to be further demonstrated and negotiated based on due diligence.

The relevant person in charge of Huitian New Material said that after the subsequent acquisition of the controlling stake of the target company is completed, it will help optimize the company's business structure, improve the manufacturing level of adhesives and lithium battery new material products, drive the expansion of the company's new energy vehicle and power battery adhesive business and enhance the competitiveness of the company's products in both domestic and international markets.