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Reasons behind Gree Electric's acquisition of Gree Titanium Industry.

The reason behind Gree Electric's acquisition of Gree Titanium Industry is conducive to the deployment and use of personnel and funds within the group.

Once listed, Gree Titanium will strictly implement the related shareholders' avoidance voting system, and enterprises or individuals related to voting matters or proposals may not exercise their voting rights. Even if it has 30.47%+ 17.46%=47.93%, this problem will arise if Gree Titanium wants to develop its business independently in the market, not just in Gree Electric's energy storage and battery business, after Gree Electric loses its influence on more than 20 minority shareholders.

After reducing the tax burden and wholly-owned merger, the original business of Gree Titanium can legally apply Gree Electric's preferential policies on corporate income tax and personal income tax in Hengqin Guangdong-Macao deep cooperation zone, and enhance the competitiveness of enterprises in the global market. 202 1 Zhuhai Gree Electric co., ltd won 30.47% equity of yinlong new energy co., ltd by participating in judicial auction and public auction.

Gree tai new energy co., ltd

Founded in 2008, Gree Titanium New Energy Co., Ltd. is a global comprehensive new energy industry group integrating lithium titanate core materials, batteries, motor control, charging equipment, intelligent energy storage system, pure electric vehicle research and development, production and sales, and power battery recycling.

The company takes scientific and technological innovation as the core and builds a closed-loop industrial chain of new energy. It owns two brands: Guangtong Automobile and Olympic Sports Energy Storage. Headquartered in Zhuhai, it has industrial parks in Handan, Shijiazhuang, Chengdu, Tianjin, Nanjing, Luoyang and Lanzhou. On 2021August 3 1 day, Gree Electric controls 47.93% of the voting rights, and Yinlong will become its holding subsidiary. Yinlong New Energy was renamed Gree Titanium New Energy, and the enterprise survey showed that it had been acquired by Gree Electric before.

Reference to the above content: Baidu Encyclopedia-Gree Titanium New Energy Co., Ltd.