Technology Dec 07, 2021 08:39 PM (GMT+8) · EqualOcean
Financial Associated Press, Dec. 7 (Xinhua) -- Fu'an Co., Ltd. announced that in September 2021, beiteri signed an agreement with Fu'an holdings and jointly established Sichuan Ruian New Material Technology Co., Ltd. with the joint venture as the main body to invest in the production of 100000 tons of lithium battery cathode material precursor and finished product production line project. Through friendly negotiation between all parties, All parties agree that Fu'an holding will transfer all the equity of the joint venture held by it to the company. Since Fu'an holding has not yet contributed to the joint venture, the company will undertake the investment obligation of Fu'an holding. The company has signed an equity transfer agreement with Fu'an holding at the transfer price of 1 yuan. The registered capital of the joint venture is 300 million yuan, and the company has subscribed 147 million yuan, accounting for 49% of the total share capital of the joint venture. The cooperation project is planned to be constructed in two phases. The total investment of phase I project is planned to be 900 million yuan; The specific progress of phase II project depends on the market situation after phase I is put into operation.