According to the latest news released by the Shangyu Daily on August 15, the construction site of Zhejiang Jinggong Carbon Material Technology Co., Ltd. (hereinafter referred to as "Jinggong Carbon Materials") in the Shangyu Economic and Technological Development Zone of Hangzhou Bay has been very busy recently. The scorching sun cannot stop the workers' enthusiasm. It is understood that the construction content includes 8 high-performance PAN fiber production lines. After completion, it will form an annual production capacity of 40,000 tons of PAN-based carbon fiber high-performance original silk. This original silk will be used to produce T700 and T800 grade PAN-based carbon fibers.
Public information on the Internet shows that Jinggong Carbon Materials was established on March 18, 2021, with a registered capital of 180 million yuan. The registered address is Room 317, No. 88 Kangyang Avenue, Hangzhou Bay Economic and Technological Development Zone, Shangyu District, Shaoxing City, Zhejiang Province. The main business includes new material technology research and development; new material promotion services; technical services, technology development, technical consultation, technical exchange, technology transfer, and promotion, etc.
On April 25 this year, Zhejiang Jinggong Integrated Technology Co., Ltd. (hereinafter referred to as "Jinggong Technology") announced the acquisition of 100% equity of Jinggong Carbon Materials and related transactions. The announcement shows that according to the overall development strategy of Jinggong Technology and the development needs of the carbon fiber industry, the company intends to sign a "Share Transfer Agreement" with the related party Zhejiang Jiabao, and intends to use its own funds to purchase the 100% equity of Jinggong Carbon Materials held by Zhejiang Jiabao in cash. After the acquisition, Jinggong Carbon Materials will become a wholly-owned subsidiary of the company. The evaluation value of the target asset, 100% equity of Jinggong Carbon Materials, is 89.5883 million yuan, and the transaction price is 89.5883 million yuan.
According to the announcement released by Jinggong Technology in June this year, the company has completed the industrial and commercial registration change of the 100% equity acquisition of Jinggong Carbon Materials. After this change, the company holds 100% of the equity of Jinggong Carbon Materials, and the business license information of Jinggong Carbon Materials remains unchanged.
When Jinggong Technology received research recently, the company pointed out that the acquisition of Jinggong Carbon Materials is mainly to make full use of the site advantages of the chemical park to meet the demand for business site of the company's carbon fiber industry development, and will further accelerate the industrialization of the company's carbon fiber series equipment, enhance the company's core competitiveness and profitability, which is in line with the company's overall development strategy of "three-in-one" of the original silk equipment, carbonization equipment, and composite material equipment of the carbon fiber industry.