Foshan Lighting announced today that the company has signed a letter of intent for cooperation with Bixiang Industrial Co., Ltd. (hereinafter referred to as Bixiang Company), and the two parties share technology and market resources. The intentional projects mainly include lithium iron phosphate cathode material production enterprises, lithium power battery manufacturers and the establishment of pure electric vehicle production bases in Foshan. The total investment is expected to be about 350 million yuan.
Due to the large amount of investment involved in the investment in lithium iron phosphate cathode materials and lithium battery production, in order to prevent stock fluctuations, Foshan Lighting was suspended for one day on August 17. After the resumption of trading on August 18, the increase was as high as 9.48%. It continued to maintain its upward trend yesterday, with the highest transaction price of 15.85 yuan per share.
Foshan Lighting "tangible" must be "invisible"
In the three intentional projects disclosed, Foshan Lighting’s share of the shares is above 51%. Bianxiang is funded by intangible assets such as patent technology and technology concessions held by it, and the proportion of intangible assets is invested. Not less than 15% of the total investment.
According to the disclosed cooperation intention, Foshan Lighting and Bixiang will jointly invest in the establishment of lithium iron phosphate cathode materials with other investors, the first phase of design and production scale of 2,000 tons / year, the final production scale of 10,000 tons / year, It is estimated that the total investment will be about 100 million yuan. Secondly, the lithium-ion battery production enterprise will be established. The first phase of design and production will be 100 million ampere-hours/year, and the final production scale will be 30,000 ampere-hours/year. The total investment is expected to be about 250 million yuan.
The two companies will also cooperate in technologies such as battery management systems and electric vehicle electronic control system solutions, and set up a pure electric vehicle production base in Foshan. It plans to complete the production of 20 vehicles for demonstration lines within the year and reach 300 vehicles/year in 2011. Capacity, reaching 2,000 vehicles per year in 2012.
Bixiang has a number of patents
According to the announcement, Bixiang is a listed company in Taiwan (stock code 1729). It was established in 1983 and was dedicated to the research and development of medical equipment in the early days. After successfully developing the world's first "four-wheel electric scooter" in 1989, Bixiang Company has made great achievements in the field of environmentally friendly batteries, and there are many research and development results.
Foshan Lighting believes that in view of the fact that Bixiang has the license of the patent owner of lithium iron phosphate, mature battery production technology and DOSBAS battery safety system protected by global patents, there is also a strong technical team support led by Dr. Wu Bixiang. The cooperation with Bixiang Company can realize the complementary advantages and jointly develop new energy pure electric vehicles and related industries. The products will mainly be oriented to the international market.
The "Leak Door" incident remains to be investigated
In the past week, Foshan Lighting has been plagued by “investigation gates†and “leakage doorsâ€. On the evening of August 12, Foshan Lighting announced that the Guangdong Securities Regulatory Bureau issued the “Notice of Investigationâ€. Chairman Zhuang Jianyi and Secretary of the Board of Directors Zou Jianping were investigated for “suspected violations of securities laws and regulationsâ€.
According to another report, around 1 pm on the 13th, a blog post published a blog post saying, “Foshan Lighting: Announced Investment of 100 Million Yuan for Lithium Battery Project next weekâ€, the blog post was quickly reprinted by several online forums. On the evening of August 16, Foshan Lighting announced the suspension of the announcement. The company will hold a board meeting on the next day to review the company's investment in lithium iron phosphate cathode materials and lithium battery production. The investment in the announcement coincided with the August 13th online blog post, and Foshan Lighting was therefore referred to as “significant information disclosureâ€.
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