According to the Zhitong Finance App, Jiading International Group (08153) announced that on July 7, 2023, the company plans to sell 100% of the shares of the target company (Glory Ray Global Limited) to the buyer (Wang Mengtao), and must pay a cost of HK$3.65 million after completion.
The target company is mainly engaged in investment holding. The target group is mainly engaged in the sale of new energy vehicles in China. The NEV sales division has not made any profit in the past two fiscal years. The company has decided to shift the focus of this division and announced the acquisition of Hainan Weishi New Energy Technology Co., Ltd. on December 28, 2022. The company is mainly engaged in manufacturing alkene-carbon composite batteries and supplying graphene battery fast charging solutions (new battery technology business). The company is determined to further expand and develop its new battery technology business. The sale will enable the Group to restructure its business strategy in the new energy-related business segment and focus its resources on the new battery technology business.