Guanghua science and technology investment of 50 million for lithium battery recycling business

On May 10th, Guanghua Science Technology announced to found Zhuhai New Energy Technology Co., LTD in Zhuhai with capital of 50 million yuan RMB. (the name is not sure yet, it will decide by the department of Industry and Commerce for Registration, hereinafter referred it as "New Energy").

According to the announcement, intends to apply for the business scope as the secondary resource recycling technology research, development, high and new technology consulting and services; Lithium ion batteries recycling, dismantling, utilization and disposal of the object and dismantling, marketing; New energy vehicles power battery collection, storage and disposal; New energy vehicles the battery cascade utilization, recycling, dismantling, comprehensive utilization and marketing; Power battery cascade use product leasing, sales; Power battery pack, module and its plastic parts, hardware, electronic components, structural components, is the cathode, electrolyte powder disposal and sales; Power battery recycling technology and equipment research and development and sales; Self-supporting and agent all kinds of goods and technology import and export (laws, administrative regulations prohibited except goods and technology, qualified after project shall obtain a permit to operate).General cargo.(subject to ratification in accordance with the project, the related department approval to conduct business operations).

Guanghua said science and technology, with the rapid development of new energy industry in China and the new energy vehicle power battery recycling management interim measures "issued, the lithium battery the recycling of a market with enormous potential. The new energy technology co., LTD. Invested in Zhuhai force, by conducting the cascade utilization of lithium-ion batteries, recycling, dismantling and remanufacturing operations, reducing environmental pollution, promote the sustained and healthy development of new energy automotive industry, both social benefit and enterprise benefit, help to accelerate the company's business development in the field of new energy, new energy industry is the perfect company strategic layout of specific measures.

The investment to set up a wholly owned subsidiary of funding its own funds for the company, the establishment of new energy is expected to be in force for the future of the company operating results have a positive impact, in the interests of the company's long-term development strategy and all the shareholders. This set up is completed, the strength of new energy will become a wholly owned subsidiary of the company, incorporated into the company consolidated scope.

The page contains the contents of the machine translation.