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On July 21st, a notice from Desai Battery (000049. SZ) stated that after careful consideration, it was decided to terminate the planning of a major asset restructuring involving the wholly-owned subsidiary Huizhou Battery introducing strategic investors through capital increase.

Desai Battery Announcement

The notice indicates that on December 22, 2020, Desai Battery signed a "Letter of Intent for Restructuring" with Hong Kong Xinnengda, intending to increase the capital of Huizhou Battery with the full equity of Dongguan Xinnengda held by Hong Kong Xinnengda. After the capital increase is completed, Hong Kong Xinnengda will hold no more than 49% of the equity of Huizhou Battery, Desai Battery will hold the remaining equity of Huizhou Battery, and Huizhou Battery will hold all equity of Dongguan Xinnengde.

At that time, Desai Battery pointed out that the purpose of the transaction with Hong Kong Xinnengda was to promote the sustainable development of the company, which was in line with the company's overall development strategy. This transaction will further expand the company's business scale and continuously improve its profitability, which is conducive to the company's growth and strength.

The market believes that if Desai Battery cooperates with Hong Kong Xinnengda, Desai Battery can ensure the stable supply of high-quality battery cells. If Xinnengda is successfully integrated, it will become the world's largest 3C battery packaging company in the future; Hong Kong Xinnengda can also leverage Desai's years of accumulated packs and BMS advantages to better serve customers.

At the same time, the two companies are also expected to enhance the technological research and development of battery cells, packs, and BMS, reduce costs, and form economies of scale.

Now, this cooperation has come to an end.

On July 21st, in the secondary market, Desai Battery closed at 46.40 yuan/share, up 0.54 yuan/share or 1.18%, despite the overall surge in the lithium battery sector.

The current total market value of Desai Battery is 13.94 billion yuan, which does not rule out the possibility of a decline in the future.

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