Gelonghui, December 4 | Jinshan Technology Industry (00040.HK) announced that GP Industrial Co., Ltd. (“GP Industries”), a subsidiary of the company listed 85.59% in Singapore, proposed in December 2021 to restructure its rechargeable battery production business through physical distribution. At GP Industries Extraordinary General Meeting of Shareholders held in Singapore today, the proposed physical distribution was approved. After completing the distribution process, GP Energy Technology Co., Ltd. will become a subsidiary directly owned by the company.
GP Energy Technology is mainly engaged in R&D, production and sales of nickel-based rechargeable battery products, actively developing sustainable and environmentally friendly battery technology, and energy storage technology that can be applied to smart homes, data centers, smart transportation, uninterrupted power supply systems, and renewable energy storage. The Group reorganized GP Energy Technology into a subsidiary directly owned by the company, fully demonstrating the Group's determination to focus on developing innovative sustainable battery and energy solution technologies.
The Group will continue to invest in R&D and innovation, and use the Group's battery expertise and technology to produce sustainable, safe and high-quality batteries and energy storage solutions to improve product performance while reducing the ecological footprint. The Group aims to co-create a greener future through the use of innovative technology and efficient production.