Nandu Power terminates the transfer of 100% equity of its wholly-owned subsidiary Huabo Regenerative Resources

Beijing Business News (Reporter Ma Huanhuan, Li Jiaxue) On the evening of March 24, Nandu Power (300068) announced that the company has terminated the transfer of 100% equity of its wholly-owned subsidiary Anhui Huabo Recycling Resource Technology Co., Ltd. (hereinafter referred to as “Huabo Recycling Resource”) and the related transaction.

The announcement shows that Nandu Power originally intended to transfer 100% equity of Huabo Recycling Resource, which is engaged in lead recycling, to Anhui Houji Lianne Operation Management Partnership (Limited Partnership). According to the appraisal report, after negotiations between both parties, the acquirer agreed to purchase the 100% equity of Huabo Recycling Resource held by the company for 1.415 billion yuan. After the “Equity Transfer Agreement” was signed and approved by the board of directors, the acquirer had paid a total of 15 million yuan as the down payment to the transferor in accordance with the agreement.

Nandu Power stated that due to recent changes in the market environment and funding preparations, it agreed to terminate the relevant matters of this equity transfer. The company will return the down payment for the equity transfer according to the agreement, and all parties’ related commitments regarding the transfer of the wholly-owned subsidiary’s equity will automatically become invalid. As of the announcement date, the shareholders’ meeting has not yet been held, and the agreement has not yet taken effect. This termination will not have a significant adverse impact on the company’s existing production and operation activities or financial status.