On January 22, Infund Holding Co.Ltd(002141) (002141) disclosed that the liquidation of the original new energy business actively promoted by the company in recent two years has made significant progress. The announcement said that the time when Shenzhen new energy, the company’s holding subsidiary, finally declared bankruptcy is uncertain, but relevant debt problems have been solved successively, including the settlement agreement reached with some creditors some time ago.
In October 2020, Infund Holding Co.Ltd(002141) agreed to dissolve and liquidate the holding subsidiary Shenzhen new energy and its wholly-owned subsidiary Xianfeng (Huizhou) new energy material technology Co., Ltd. (hereinafter referred to as “Huizhou new energy”), and authorized the company’s management to handle relevant liquidation and cancellation matters according to law.
For the reasons for dissolution and liquidation, Infund Holding Co.Ltd(002141) said that Shenzhen new energy and Huizhou new energy are mainly engaged in lithium ion enrichment material related businesses. Since their establishment in 2017, their business performance and operation are not ideal, which can not support the company’s strategic development orientation in the field of new energy; Superimposed on the covid-19 epidemic since 2020, the company has always been unable to resume work and production normally, and there are major uncertainty risks in its sustainable operation. Although the company has taken various measures to try to reverse the situation, it has achieved little effect. In order to protect the legitimate rights and interests of the company and its shareholders and the safety of the company’s assets and avoid further expansion of losses, The company decides to dissolve Xianfeng Shenzhen new energy and Xianfeng Huizhou new energy, and liquidate and cancel them.
The reporter of securities times · e company learned from Infund Holding Co.Ltd(002141) that the company has decided to withdraw from the enrichment material adsorbent business since the fourth quarter of 2020. However, due to the dispute between the shareholders of Shenzhen new energy, it has been unable to promote the asset liquidation, and the relevant debt disputes have not been resolved for a long time. The bankruptcy liquidation is conducted under the guidance of the court, which will help to solve the accumulated debt problems fairly and openly.
Infund Holding Co.Ltd(002141) said that as the controlling party, the company has been actively promoting the settlement of relevant debt problems and safeguarding the interests of creditors. According to the announcement, Infund Holding Co.Ltd(002141) the board of directors reviewed and approved Huizhou new energy to transfer relevant land and real estate to Huizhou guanzhisheng Property Management Co., Ltd. for 120 million yuan. At the same time, in order to ensure the smooth progress of the sale of Huizhou new energy assets, Infund Holding Co.Ltd(002141) also plans to provide a guarantee limited to 30 million yuan for its debt repayment; In addition, the company has agreed with other shareholders of Shenzhen new energy that the transfer funds of the underlying assets shall be preferentially used to repay the external debts of Huizhou new energy, including the debts to be guaranteed by the company and the recovery of secured creditor’s rights arising from the performance of the guarantee liability in the dispute case between Huizhou new energy and Huixin financial leasing (Shenzhen) Co., Ltd.
“The company is making every effort to dispose of assets and strive to maximize income to solve the debt problem of Shenzhen and Huizhou new energy.” Infund Holding Co.Ltd(002141) the relevant person in charge told the reporter of the securities times · e company that the application for bankruptcy liquidation of Shenzhen new energy and the sale of assets by Huizhou new energy are conducive to further promoting the bankruptcy liquidation related work of Shenzhen new energy and Huizhou new energy adsorbent, which is in line with the company’s overall strategic needs for the layout of power battery core material providers in the new energy field.
It is worth mentioning that while withdrawing from the adsorbent business, Infund Holding Co.Ltd(002141) has gradually planned to layout the core material business of power battery in the field of new energy since November 2021. On November 26, 2021, Infund Holding Co.Ltd(002141) invested and established Xianfeng new materials (Shenzhen) Co., Ltd. with its own funds, beiteri and Shenzhen Fengying intelligent investment to engage in the business of high nickel ternary precursor for lithium-ion battery cathode, and plans to establish a production line of high nickel ternary precursor with an annual output of 50000 tons. After the completion of the project, the annual output value is expected to be 5 billion yuan and the annual tax payment is about 250 million yuan. The project has signed an investment cooperation agreement with Yichang high tech management committee at the end of 2021.
