Joint vertical technology proposed 290 million capital increase Tianjin Maolian

Joint vertical technology(300477) announced on the evening of April 23 that the company intends to invest in Tianjin Maolian Technology Co., Ltd.(hereinafter referred to as "Tianjin Maolian") in cash with Tianjin Shengya Investment Co., Ltd., Chen Fengdemao, Pengdaqing, Beijing Silk Road Cloud and Investment Center(limited partnership). A total of 42 million yuan. Among them, the company invested a total of 292.8818 million yuan in Tianjin Maolian, of which 12.1583 million yuan was included in the registered capital and 17.12986 million yuan was included in the capital reserve. After the capital increase was completed, the proportion of the company's stake in Tianjin Maolian was 14.6 %.

The joint vertical technology stated that in December 2017, the joint vertical technology company held Tianjin Maolian through Ningbo Source Longitudinal Equity Investment Partnership(limited partnership), which is another strategic layout of the company in the area of lithium batteries. The company plans to reach the future of Tianjin Maolian. Performance commitment targets, At the same time, it has other conditions for mergers and acquisitions to merge it into listed companies through mergers and acquisitions. This will open up the industrial chain of the company's cobalt series products from upstream resources to precursors, and enhance the competitiveness of the company by controlling the upstream, and further create value for the company and all shareholders..

The company's participation in the capital increase of Tianjin Maolian was due to the fact that Tianjin Maolian needed to increase its capital investment to speed up the mining and smelting of slag heap cobalt copper mine resources in Zambia. Therefore, the company supported Tianjin Maolian through this investment.

It is reported that Tianjin Maolian subsidiary has about 15 million tons of copper cobalt slag deposits in Zambia. It is planned to complete the construction of the smelter and put it into production in early 19 for the production of crude cobalt hydroxide and copper and nickel extraction.

According to data, Tianjin Maolian was established on March 5, 2010. Currently, it mainly produces and sells cathode copper, exquisite cobalt chloride and electrolytic nickel. In the future, the company plans to further develop crude cobalt hydroxide, refined cobalt sulfate, refined nickel sulfate, ternary precursor products on the basis of existing products.

At present, Tianjin Maolian Tianjin Nangang Plant has an annual output of 4,800 gold tons of cobalt products(cobalt hexahydrate, cobalt hexahydrate), 21600 gold tons of copper products(electrolytic copper), and 8,400 gold tons of nickel products(6,000 gold tons Electrolyzed nickel, 2,400 gold tons of nickel sulfate) capacity; The second phase has an annual output of 8,000 tons of cobalt products, 25,000 tons of copper products, and 14,000 tons of nickel products.

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