Huayou Cobalt announced on October 18 that its wholly-owned subsidiary Yinzhou Huayou Cobalt New Materials Co., Ltd. (hereinafter referred to as "Huayou Yinzhou") completed its acquisition with Zhejiang Qianqi Merger Fund Management Co., Ltd. and other units on September 2, 2016. Regarding the signing of the Luzhou Huahai New Energy Technology Industry Equity Investment Partnership (Limited Partnership) partnership agreement and supplementary agreement, it is proposed to jointly establish the Luzhou Huahai New Energy Technology Industry Equity Investment Partnership (Limited Partnership) (hereinafter referred to as the "Huahai New Energy Industry Fund" ) To serve the implementation of the company's new energy development strategy.
Huayou Cobalt said that the project is oriented towards the new energy market for lithium batteries and is a further extension and expansion of the company's cobalt product business to the downstream industrial chain. The implementation of the project will help the company to obtain a broad space for business extension, and improve the company's profitability and core competitiveness.
On October 17, the Yinzhou Huahai New Energy Technology Industry Equity Investment Partnership (Limited Partnership) has completed its filing with the China Securities Investment Fund Industry Association and has obtained a private investment fund filing certificate.