ST Baly (603959.SH) subsidiary Baly Lithium Battery terminates external investment, no longer holds equity in Xiran Technology.

Wisdom Finance and Economics APP news, ST Baili (603959.SH) issued an announcement. Previously, the company's wholly-owned subsidiary, Changzhou Baili Lithium Battery Smart Factory Co., Ltd. (hereinafter referred to as "Baili Lithium Battery"), made an investment in Xiran Technology (Jiangsu) Co., Ltd. (hereinafter referred to as "Xiran Technology") through cash acquisition and capital increase. Baili Lithium Battery and Wang Jingxu and Suzhou Chihe Enterprise Management Center (Limited Partnership) (hereinafter referred to as "Suzhou Chihe") signed an "Investment Agreement" in August 2023, agreeing that: (1) Baili Lithium Battery will purchase 30% and 6% of the equity of Xiran Technology (Jiangsu) Co., Ltd. held by Wang Jingxu and Suzhou Chihe for a total cash consideration of 35.28 million yuan, and after the equity transfer, Baili Lithium Battery will exercise 51% of the voting rights and merge financial statements to effectively control the target company; (2) After the aforementioned transfer is completed, Baili Lithium Battery will subscribe for 8 million yuan of the target company's additional registered capital of 980,000 yuan in cash. On February 2, 2024, Xiran Technology completed the industrial and commercial change registration procedures. In accordance with the agreement, Baili Lithium Battery obtained 36% of the equity of Xiran Technology registered under the agreement and related rights.