Ningbo Fuda (600724.SH) plans to acquire a controlling stake in Jingxin Materials and focus on the development of electronic specialty materials in the photovoltaic silver powder field.

Ningbo Fuda (600724.SH) announced that the company plans to acquire no less than 45% equity of Ningbo Jingxin Electronic Materials Co., Ltd. ("Jingxin Materials") through cash payment, either through equity acquisition or capital increase. At the same time, the shareholder of Jingxin Materials, Hou Xiaobao, will ensure that the listed company holds not less than 51% voting rights of the target company by entrusting or transferring no less than 6% voting rights to the listed company. The specific acquisition plan and proportion are subject to further discussion and negotiation. After the completion of this transaction, Jingxin Materials will become a wholly-owned subsidiary of the company. On January 16, 2025, the company signed an "Investment Cooperation Intention Agreement" with the shareholders of Jingxin Materials. The above agreement is only an intention agreement, aiming to express the cooperation intentions of all parties. The specific transaction plan and terms will be subject to the formal agreement signed by all parties. This transaction is still in the preliminary planning stage, and there are significant uncertainties in related matters. The specific plan of the transaction requires further negotiation and demonstration by all parties involved, and necessary decision-making and approval procedures must be in accordance with relevant laws, regulations, and the company's articles of association. Ningbo Jingxin Electronic Materials Co., Ltd. focuses on the research and development, production, and sales of electronic materials in the field of CECEP Solar Energy photovoltaic and electronic technology. Its main products include CECEP Solar Energy photovoltaic front and back silver powders, special conductive silver powders, etc. Jingxin Materials has been deeply involved in the field of ultrafine silver powders for CECEP Solar Energy batteries for more than 20 years and is one of the earliest enterprises in China to conduct research on photovoltaic silver powders. Its core leading product, "Crystal Silicon CECEP Solar Energy photovoltaic front electrode silver powder" belongs to the key basic materials for the manufacturing of CECEP Solar Energy batteries and is located in the middle and upper reaches of the photovoltaic industry chain, used to produce photovoltaic conductive silver paste. The production of high-quality silver powders has high technological barriers and is a core link in the photovoltaic silver paste industry chain. Jingxin Materials is a national high-tech enterprise and a national-level specialized and innovative "small giant" enterprise, as well as a Zhejiang provincial "national single champion" incubated enterprise. After the completion of this transaction, Jingxin Materials will become a wholly-owned subsidiary of the company. In addition to the existing main business of commercial real estate and cement building materials, the company will enter the field of electronic special materials mainly in photovoltaic silver powder, and will rely on its own resource advantages to achieve effective synergy with the target company, helping the company to achieve industrial transformation breakthroughs and enhance its energy levels.