PVTIME - Beijing Tianyishangjia New Material Corp., Ltd. (688033.SH)(TYSH), a China-based company mainly engaged in the development and production of transportation and renewable materials, announced on November 6 that it intends to acquire 90% equity of Jiangsu Jingyiyang New Material Technology Co., Ltd. (Jingyiyang).
Jingyiyang has extensive experience integrating a diverse set of technologies and devices for high performance non-ferrous metal, graphite and carbon products, composite fiber materials, photovoltaic products and semiconductor manufacturing. And TYSH plans to add new business of photovoltaic quartz crucible products manufacturing through the equity acquisition.
It is estimated that the assessed value of the total equity value of the shareholders of Jingyiyang the target company is 311. 1131 million yuan after the transaction, an increase of 288.9451 million yuan and a value-added rate of 1303.44%. The price of 100% equity of Jingyiyang is determined to be 300 million yuan negotiated by the two companies.
Quartz crucible is the key material in the processing of photovoltaic monocrystalline pulling, and the target company plays a crucial role in the industry for many years with well developed professional technical team as well as independent innovation experience, leading to the premium acquisition, TYSH stated. What is more, the target company successfully optimized the ratio of quartz sand feedstock and formed a unique and stable manufacturing process that is expected to secure the supply of quartz crucible for domestic customers.