300 million yuan! Snow Wright & bestserve automation, layout of the lithium battery production

Yesterday (14) evening, snow Wright announced the fifth session of the ninth meeting of the board of directors passed on the issue of shares and payment of cash to buy assets and raise matching funds program motion. The company intends to issue shares and to pay a combination of cash to buy what Li, Huang Hairong, Yu Bo, Huang state held Shenzhen city BestServe Automation Technology Co. Ltd. (hereinafter referred to as "bestserve automation" and "the company") 100% stake and raise matching funds.

According to the announcement, after assessment, as of the valuation date June 30, 2017, to assess the value of the underlying assets of 302 million 850 thousand and 300 yuan, friendly consultation by both parties to determine bestserve automation 100% equity trading price of 300 million yuan to determine.

It is understood that bestserve automation was founded in 2013, the main new energy automotive power lithium battery production equipment production, R & D and sales.

In addition, the company intends to specific objects at the same time by way of non-public offering of shares to raise matching funds, matching the total funds to be raised not more than 78 million yuan, less than this transaction to issue shares to buy assets in the transaction price (not including the counterparty in this transaction within six months before the suspension and the suspension period cash capital shares of the underlying asset of the corresponding transaction price) 100%, while raising matching funds does not exceed the number of shares issued prior to the issuance of 730241172 shares of the total share capital of the listed company 20%, 146048234 shares.

Snow Wright said, this transaction is conducive to improve the quality of the company's assets, improve the financial situation, and enhance sustainable profitability. After the completion of this transaction, the company's financial condition and continued strong profitability and risk resisting ability, is conducive to maintaining and enhancing the independence, regulate and reduce related party transactions, to avoid competition.

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