Henan Pingmei Shenma Asset Management Co., Ltd. agreed to acquire 49% Pingdingshan Sanji Carbon Co., Ltd. from Henan Yicheng New Energy Co., Ltd. for CNY 1.

Henan Yicheng New Energy Co Ltd is a China-based company mainly engaged in the production and sales of battery chips. The Company operates two segments: Kaifeng Carbon segment and Pingmei Longji segment. The Kaifeng Carbon segment is mainly responsible for the research and development (R&D), production and sales of graphite electrodes. The Pingmei Longji segment is responsible for the production and sales of battery chips. The Company's products include high-efficiency monocrystalline silicon cells, lithium batteries, solar power plants, ultra-high-power graphite electrodes, cathode materials, etc.