On February 22, the first Department of listed company management of Shanghai Stock Exchange issued an inquiry letter to Tianyu Eco-Environment Co.Ltd(603717) . Previously, the company submitted an announcement that it planned to increase the capital of Qinghai juzhiyuan new materials Co., Ltd. (hereinafter referred to as Qinghai juzhiyuan) in cash. After the capital increase, the company holds 51% of the equity of Qinghai juzhiyuan, and the target company will become the holding subsidiary of the listed company.
According to the inquiry letter, the main business of the listed company is garden ecological engineering, and the expected performance in 2020 and 2021 is a loss. The operating cash flow in 2019 and 2020 is negative for two consecutive years, and the target company of this transaction is also a loss for two consecutive years.
Shanghai stock exchange requires the company to explain the reason and necessity of re acquiring the target company with performance loss in combination with the current main business operation and profitability; Explain the talent reserve, technology accumulation, business resources and R & D capacity of the company in terms of lithium battery materials, assess the risks and uncertainties of the lithium battery material industry, as well as the funds and resources required for the target company to achieve normal production, and give full risk tips.
