On the evening of October 24, Aoyang Shunchang (002245) announced that its controlling subsidiary, Jiangsu Luwei Lithium Energy Co., Ltd. ("Jiangsu Luwei"), plans to use RMB 195 million in its own funds to increase capital for its wholly-owned subsidiary, Jiangsu Tianpeng Power Co., Ltd. ("Tianpeng Power"). This capital injection will raise Tianpeng Power’s registered capital by RMB 195 million, bringing it to a total of RMB 30,000. While the relevant agreement has not yet been signed, the company's management has been authorized to handle all related documentation and procedures.
Tianpeng Power, a wholly-owned subsidiary of Jiangsu Luwei, is a high-tech enterprise specializing in the research, development, production, and sales of ternary power lithium-ion batteries. As one of the early domestic manufacturers of ternary system lithium-ion batteries for power tools, the company has over 10 years of experience in R&D and manufacturing of cylindrical lithium batteries. It operates an advanced production line and holds a leading position in the tool-type power lithium battery sector.
Since 2013, Tianpeng Power has expanded into the automotive power lithium battery market. Its products have been adopted by various models, and in June 2016, it was included in the Ministry of Industry and Information Technology's "Regulations on the Standards of Automotive Power Battery Industry," marking a significant milestone for its automotive battery business. With the gradual commissioning of top-tier automated production lines, Tianpeng Power’s competitiveness is expected to grow further.
Aoyang Shunchang noted that since Jiangsu Luwei's lithium battery operations are primarily managed through Tianpeng Power, the subsidiary has gained strong recognition from customers over nearly a decade. Most of the qualifications and certifications for Luwei’s lithium battery business are issued under Tianpeng Power’s name. With its current registered capital at only RMB 105 million, Tianpeng Power is currently expanding its daily production capacity to 1 million lithium battery cells. Increasing its registered capital will support its power lithium battery projects, enhance its corporate image, and strengthen its overall lithium battery business.
In addition to this major investment in lithium batteries, Aoyang Shunchang has also made significant investments in the LED sector this year. On August 7, the company announced that its subsidiary, Huai'an Aoyang Shunchang Optoelectronic Technology Co., Ltd. ("Huai'an Optoelectronics"), plans to expand its LED epitaxial wafer and chip production. The expansion aims to increase annual output to 16.5 million units (equivalent to two pieces). The project involves a total investment of approximately RMB 1.7 billion, with part of the expansion completed by the end of 2017 and the rest expected within two years.
On March 23, Aoyang Shunchang announced that Huai'an Optoelectronics would raise its registered capital by RMB 40.13 million. The local government, through Qinghe Development, subscribed to RMB 30 million of the new capital, with the remaining amount going into the capital reserve. All original shareholders waived their right of first refusal.
The capital increase was formalized through a signed agreement, and the project is expected to significantly boost Huai'an Optoelectronics' production capacity and strengthen its position in the LED industry. The increased capital will help the company meet growing demand and support long-term growth.
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