Huanlejia announced that its wholly-owned subsidiary Huanlejia Investment plans to jointly establish a joint venture with controlling shareholder Haoxing Investment, director Cheng Song, vice president Yang Ronghua, vice president and CFO Weng Sumin, and external investor Li Xiaodong. The registered capital is 60 million yuan, of which Huanlejia Investment will contribute 30.6 million yuan for a 51 percent stake. The joint venture will primarily engage in the production of pre-carbonized coconut shell materials and coconut-shell-based hard carbon anode materials. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring.
HUANLEJIA Food Group Co. Ltd.Huanlejia invests 30.6 million yuan for 51% stake in joint venture for coconut-shell-based hard carbon anode materials, a related-party transaction but not a major restructuring.