According to incomplete statistics, since 2017, there have been nearly 30 cases of listed companies and mergers and acquisitions of lithium-ion enterprises, of which more than 10 cases failed. The industry believes that with the intensified competition in the lithium battery industry, the rapid decline in quality standards and the tightening of regulatory policies, the phenomenon of lithium-ion industry in the cross-border mergers and acquisitions of listed companies will gradually fade away, and the investment risks of lithium and electricity in the primary and secondary markets will be reduced. Sudden increase. Price disputes become the main cause On July 15, Xianfeng Holdings, which suspended trading for nearly two and a half months, announced the announcement of the suspension of major asset restructuring and suspension. The company also plans to acquire Shenzhen Huitong Tianxia Technology Co., Ltd. (hereinafter referred to as “Huitong Tianxiaâ€) and Miaosheng Power Technology Co., Ltd. The company (hereinafter referred to as "Miao Sheng Power") each 51% of the shares, and signed a framework agreement with the counterparty to buy shares, and vigorously entered the lithium battery industry. The acquisition of Xianfeng Holdings is a new energy industry. During the suspension of Yinfeng Holdings, the company plans to jointly establish Yinfeng New Energy Technology Co., Ltd. with its controlling shareholder Xianfeng Limited and Juyong Yongtuo to engage in the production and technical services of lithium related products, optimize the preparation process of lithium carbonate, and achieve high efficiency and low efficiency. The cost of lithium extraction, and cut into the lithium industry, to the "financial + industry" dual model development. However, this seemingly perfect acquisition ended in failure three months later. On October 20, Xianfeng Holdings announced that as the company and the counterparty ultimately failed to reach an agreement on the core terms of the trading plan (transaction price and trading conditions, etc.), the company is not expected to complete the relevant work during the suspension period and decide to terminate. This major asset restructuring event. A lithium battery industry analyst told China Securities Journal that with the continuous development of the new energy automobile industry, the quality of lithium battery has become a fragrant, leading to a doubling or multiplier growth in corporate valuations. There was a big difference in price, mainly because the target companies thought that the purchase price was too low and finally parted ways. Xianfeng Holdings is not a case because of the failure of the acquisition due to price disputes. According to the statistics of China Securities Journal, this year, in the case of the failure of listed companies to purchase lithium-ion enterprises, half of the cases failed because of the lack of price. In addition to Xianfeng Holdings, Qunxing Toys acquired the power battery company Time and Space Energy, Jinguan Electric acquired the lithium metal in the diaphragm company, Snow Wright acquired the negative material company Shenzhen Snow, Zhaoxin shares the lithium battery equipment company A Li shares, etc. The purchase price problem eventually failed. Increasing investment risk According to the incomplete statistics of China Securities Journal, only 2017, there have been nearly 30 cases of listed companies and mergers and acquisitions of lithium-ion enterprises, involving upstream raw materials, four major materials, power batteries and equipment, among which more than 10 cases failed. Listed companies include Aotejia, Changxin Technology, Qunxin Toys, Shengyang, Jinguan Electric, Del Future, Western Mining, Snowlight, Zhaoxin, etc. In addition to price, policy changes are also a major cause. Since the outbreak of the new energy vehicle fraud incident, the state has successively issued a list of battery companies, new energy vehicle recommended catalog re-examination, subsidy policy adjustment, new national standard strong inspection, 30,000 km mileage and other specifications to develop lithium battery industry, crack down on fraudulent activities. Policy. The impact of policy fluctuations on the future development of each lithium-ion enterprise is inevitable, which directly affects the confidence of listed companies in cross-border acquisition of lithium-ion enterprises. Autotech acquired Jiangsu Haisida Power Supply Co., Ltd., a power battery company, and Shengyang Changyi Huai'an Technology Co., Ltd. and Shilian Changyi (Yancheng) Technology Co., Ltd., both of which failed due to policy changes. According to industry insiders, it is not excluded that the high valuation and high premium acquisition of the company is that the acquirer and the target company have signed an excessive performance against the gambling target. Under the multiple pressures of subsidies, rising raw material prices, intensified market competition and falling product gross margins, the target companies have suffered from excessive performance against gambling pressures and risks, and finally chose to give up. A brokerage investment bank told the China Securities Journal that with the intensified market competition in the lithium battery industry, the rapid decline in quality standards and the tightening of regulatory policies, the phenomenon of large-scale cross-border mergers and acquisitions in the lithium battery industry in the future will gradually fade away. Lithium-ion investment risks in the secondary market will increase sharply. The Institute of Advanced Industrial Research and Development Lithium and Electric Power believes that capital has become an important variable to promote the butterfly industry in the lithium battery industry. However, for the acquirer, listed companies should be wary of risks such as overvaluation, difficult performance promises, business integration and industry synergies. The above-mentioned investment bankers also said that it is necessary to be wary that for listed companies, some lithium-ion enterprises want to quickly realize their profits, and sell the company as a whole at a high level to achieve arbitrage. With the lack of quality standards, listed companies need to have a pair of "eyes". For the acquiree, capital is a double-edged sword. How to effectively use external capital to become bigger and stronger is a long-term issue worthy of consideration by the acquired company. Cooling Tower,Cooling Water Tower,Square Shaped Cooling Water Tower,Cooling Conveyor Tower DONGGUAN CARNO MACHINERY CO., LTD. , https://www.kainuochiller.com