Jiangsu Xinhai Copper Industry Co., Ltd. wins Chu Jiang New Materials Strategy to Build New Energy Automobile Copper Conductor

According to a recent announcement, Chujiang Xincai (002171), a leading company for base materials, invests 60 million yuan in shares in Jiangsu Xinhai Copper Industry Co., Ltd. (“Xinhai Copper”). After this equity transfer and capital increase, Chujiang New Materials will own Xinhai Copper. 22.22% of the industry's equity. At the same time, it signed the Strategic Cooperation Framework Agreement with Xinhai Copper, and the two parties will establish in-depth strategic partnerships in the field of copper conductor materials for new energy and new energy vehicles, and will help Xinhai Copper realize asset securitization. Under the condition of mature conditions, Chujiang Xincai will actively promote Xinhai Copper's IPO or mergers and acquisitions and reorganization, and listed companies have the right to increase their capital, shareholding and mergers and acquisitions.