On October 19, Xiexin Technologies announced that it intends to acquire about 81.91% of its controlling stake in Sichuan Xiexin Lithium Electricity Technology Co., Ltd. (Hereinafter referred to as "Xiexin Lithium Electricity") from the controlling shareholder Xiexin Group.
The announcement shows that the preliminary estimate of the transaction is about 2.5 billion yuan , which is to be paid by a combination of cash and issuance of shares. The portion to be settled by cash is approximately RMB650 million, and the portion to be settled by the allotment and issuance of consideration shares is approximately RMB1.85 billion.
The announcement also disclosed that the issue price of the consideration shares is not less than net assets per share as of June 30, 2026, which is about HK $ 1.3 (about RMB 1.13 at the exchange rate of June 30). Based on the issue price, the total number of consideration shares to be issued in this transaction is about 1.671 billion .
It is noteworthy that in this transaction, Xiexin Integration also promises that the total adjusted net profit of Xiexin Lithium Power in 2027 and 2028 will not be less than RMB 620 million .
At the same time, Xiexin Integration also promises that Xiexin Lithium Power will develop the 6th generation lithium iron phosphate cathode material products with a compaction density of more than 2.8g/cm ³ by December 31, 2028. If it fails to meet the standard, Xiexin Group shall pay the corresponding compensation to the buyer from the consideration obtained in this transaction. According to
the official website, Xiexin Lithium Power is a subsidiary of Xiexin Group, which was established in Renshou, Sichuan in 2022 and is dedicated to the research and development, production and sales of cathode materials for new energy lithium batteries and related lithium battery materials.
As of July 2026, the annual output of GCL Lithium Power Renshou Base can reach 150,000 tons of lithium iron phosphate cathode materials; the second phase project has been determined, and the total capacity of the first and second phases can reach 400,000 tons. As early as 2025, the base has realized batch shipment to Ningde Times , and has achieved profitability in the whole year of 2025.
Relevant media reported that Xiexin Lithium Power has signed a long-term supply agreement with Ningde Times , and is expected to supply 1 million tons by the end of 2028; By the end of 2028, the demand of Vision Power and Haichen Energy Storage is about 450,000 tons respectively, and the guaranteed supply is 350,000 tons respectively; the demand of Ganfeng Lithium is 300,000 tons, and the guaranteed supply is 200,000 tons.
It is noteworthy that the business of cathode materials of Xiexin Science and Technology, the acquirer of this transaction, has continued to expand in recent years.
According to the tracking report of the Digital New Energy DataBM. Com, The 400000-ton lithium iron phosphate project of Xuzhou Xinrui Lithium Electric Materials Co., Ltd. , a subsidiary of Xiexin Science and Technology, started construction in Xuzhou, Jiangsu Province on September 28. (For details, please click: GCL Jiangsu 4 Billion Lithium Iron Phosphate Project Starts!
In addition, the overall planning of Leshan Xinneng (Leshan Base) under GCL Technology is 400,000 tons . The first phase of 200,000 tons has been put into operation in June 2026, and is expected to reach full production in October. The products have passed the certification of domestic mainstream power and energy storage head enterprises and have been introduced in batches. The second phase of 200,000 tons has also started construction and is expected to be put into operation at the end of the first quarter of 2027.
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