Shanshan shares with foreign-invested lithium-ion investment

Today (December 14), Shanshan shares (600884, the former closing price of 24.04 Yuan) announced that the company intends to join hands with Japanese-funded foreign joint venture company.　　Blow again to the lithium battery industry marching horn. According to the bulletin disclosed that the related transaction is divided into two steps to complete. First, the company holding subsidiary Shanshan New Energy and T&i Hunan Investment Co., Ltd. signed an increase agreement. By T&i according to the terms and conditions stipulated in the agreement, the equivalent of 37.53 million yuan in the yen to Hunan Shanshan, of which 16.667 million yuan as a registered capital, 20.863 million yuan into the capital accumulation. After the increase, the registered capital of Hunan Shanshan increased to 66.667 million yuan. At the same time, the two sides agreed to change the Hunan FIR into joint venture investment joint Venture company, and renamed the Cedar Toda new materials. Among them, Shanshan's new energy holds 75% per cent, and T&i holds a 25% per cent stake.　　Shanshan Toda new materials main top lithium ion batteries with Lco cathode materials manufacturing and sales. Subsequently, Shanshan toda new materials and T&i signed the "Joint venture contract" to form joint venture company Advanced Materials Company. Its registered capital is 20 million yuan. One of the Toda new materials investment 10 million yuan, accounting for the registered capital of the 50%;t&i 10 million yuan, accounting for 50% of registered capital.　　Advanced Materials Company's main Lco cathode materials outside the lithium-ion batteries with cathode materials manufacturing and sales. Information disclosed, T&i is a joint-stock company established in Japan. Its major shareholder Toda Industrial Co., Ltd. listed on the Tokyo Exchange, the scope of business is functional pigments, electronic materials, engineering.　　Toda Industrial Co., Ltd. is engaged in the production of cathode materials, in addition to mobile phone use, the current to the automotive, large battery use expansion, developed to be used for a variety of uses lithium-ion battery cathode materials. In the first 9 months of this year, the net profit of Shanshan's shares was 80.2172 million yuan, earning 0.195 yuan per share. The first half, the company's lithium battery material income of 600 million yuan, accounting for 49% of the proportion of the main business income.