Recently, Landfar Bio-medicine Co.,Ltd. announced its intention to acquire equity in Loudi Jinhong New Materials Co., Ltd. and increase capital through a cash transaction, with a total deal value of Yuan 78.6249 million. Upon completion of the transaction, Landfar Bio-medicine will hold 55% of the shares in Jinhong New Materials and incorporate it into the company's consolidated financial statements.
This marks another significant investment planned by Landfar Bio-medicine in a short period, following the August announcement of its intention to acquire a 51% stake in Hunan Huize Biopharma Technology Co., Ltd. Landfar Bio-medicine stated that this move will extend the company's core "energy conservation and environmental protection" business into the circular economy sector, including the recycling of electric vehicle power batteries (lithium carbonate), fostering new revenue and profit growth points for the company.
Edited by Cassie Li, lixiangying@mysteel.com
