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　　Spending 1.5 billion yuan, Dow Technology increases its 9v alkaline battery material layout

　　Today's Battery Magazine-China Battery Alliance News On April 24, Dow Technology announced that it plans to acquire the remaining equity of its holding subsidiaries Jiana Energy and Qingdao Haoxin, with a total transaction price of 1.503 billion yuan.

　　The announcement shows that Jiana Energy, as an important domestic cobalt product supplier, has been focusing on producing cobalt salt products through hydrometallurgical processes for more than ten years since its establishment, and has expanded its product line downstream to ternary precursors through technology accumulation and product research and development. Qingdao Haoxin is an important domestic conductive agent manufacturer and is in a leading position in the conductive agent industry. Its main products are graphene conductive agents and carbon nanotube conductive agents, which are conductive enhancers for lithium batteries.

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

　　In May 2015, the State Council issued the "Made in China 2025" and listed "new energy vehicles" and "graphene" as key development areas; in October 2016, the Ministry of Industry and Information Technology issued the "Nonferrous Metals Industry Development Plan (2016-2020)", which clearly stated that "focusing on the needs of energy storage and new energy vehicles, we will focus on the development of large-capacity and long-life energy storage battery positive electrode materials, negative electrode 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 the Manufacturing Industry (2018-2020)", which listed "graphene" as a key task for the industrialization of key technologies of new materials. It can be seen that the country attaches great importance to supporting industries such as new energy vehicles and batteries, graphene materials, etc. The subsidy policy has greatly promoted the development of the new energy vehicle industry, and thus created good external conditions for the development of Jiana Energy and Qingdao Haoxin.

　　In 2016 and 2017, Jiana Energy's operating income was 688 million yuan and 1.35 billion yuan, respectively, and its net profit was 31.7792 million yuan and 238 million yuan, respectively; Qingdao Haoxin's operating income was 62.368 million yuan and 113 million yuan, respectively, and its net profit was 16.12 million yuan and 23.98 million yuan, respectively, and its performance showed a rapid growth trend.

　　The vigorous development of new energy vehicles and lithium battery industries has driven the growth of upstream cobalt products and conductive agent products. As important suppliers in their respective fields, Jiana Energy and Qingdao Haoxin have seized market development opportunities and shared the dividends of industry development with their strong technical reserves, stable major customer channels and efficient management teams.

　　In order to further strengthen the control over the two subsidiaries, further optimize the internal resource allocation, and give full play to the synergy of various businesses, after consensus among all parties to the transaction, Dow Technology intends to issue shares to Yuanwei Investment and Xinhualian Holdings to purchase their total 49% equity in Jiana Energy, with a transaction price of RMB 1.323 billion; it intends to issue shares to Wang Lianchen and Dong Angang and pay cash to Wei Chen to purchase their total 45% equity in Qingdao Haoxin, with a transaction price of RMB 180 million. After the completion of this transaction, Jiana Energy and Qingdao Haoxin will become wholly-owned subsidiaries of Dow Technology.

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

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