On 15 Feb., 2016, Do-Fluoride Chemicals Co., Ltd. (Do-Fluoride) announced that
it had signed the Letter of Intent for Cooperation with Shanxi House of The
Huangcheng Chancellor Yuhang Bus Co., Ltd. (Yuhang Bus) and its shareholders,
about the acquisition of the company, and had reached a preliminary intent with
Shanxi Royal Prime Minister’s Palace Middle Energy Co., Ltd. (Zhongdao Energy)
and its shareholders, on acquiring it.
“The cooperation is another step for us to further extend the alternative
energy vehicle industry chain,” stated Do-Fluoride, “We will vigorously make
use of Yuhang Bus and Zhongdao Energy’s advantages to complete our supply
chain.”
About companies
Yuhang Bus is mainly producing all-electric city bus (6 metre, 6.6 metre and
8.5 metre), all-electric multi-purpose bus (6 metre and 7 metre) and touring
bus (8 metre). Meanwhile, it has developed gas-electric hybrid city bus (10.5
metre and 12 metre) and compressed natural gas bus (6-12 metre).
In total, 19
alternative energy and traditional buses have been listed by the Ministry of
Industry and Information Technology of the People’s Republic of China in the
Vehicle Producers and Vehicles.
Zhongdao Energy’s portfolio spans 60260 cylinder high energy density and high
capacity power Li-ion battery and 18650 cylinder battery, prismatic battery for
camp lamp, power battery for electric motorcycle and electric bicycle and
specialty battery for military use.
In Nov. 2010, Do-Fluoride invested USD52.49 million (RMB344 million) in
constructing projects of electrolyte, lithium hexafluorophosphate (LiPF6),
battery grade lithium fluoride and electronic grade hydrofluoric acid. In 2011,
it achieved the small-scale production of LiPF6 (200 t/a).
In March 2015, the
company disclosed on the investor information exchange platform that it had
established a vehicle research institute and had bought 4 vehicles for
refitting and test.
Though the company has not yet released the full-year 2015 financial report,
Do-Fluoride has expected the net profit to rise by 800-850% to USD5.80-6.12
million (RMB38.00-40.11 million), thanks to the significantly increasing sales
of power Li-ion battery and the strong profitability of LiPF6.
In fact,
benefiting from the alternative energy business, the company has already made
big progress in financial performance. In Q1 2015, it made the net profit of
USD1.27 million (RMB8.34 million), and then USD4.44 million (RMB29.12 million)
in Q3, a rise of over 3 times.
* News on Tonghuashun Finance
(http://www.10jqka.com.cn, a platform offering financial information),
translated by CCM.
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Tag: Fluoride Li-ion battery