2.1 billion! The ultra-high molecular weight polyethylene fiber giant was sold

Recently, Yan'an Bikang Pharmaceutical Co.
, Ltd.
issued an announcement that Jiangsu Jiujiu Technology Co.
, Ltd.
, a holding subsidiary of the company, intends to sell 100% of the equity of Jiuzhou Interstellar Technology Co.
, Ltd.
to Nanjing Jiuzhou Interstellar New Materials Co.
, Ltd.
for a total transaction consideration of RMB 2.
1 billion.

The reason for the sale of equity is to focus on new energy

*ST Bicon currently has overdue debts, and many assets are in a restricted state due to debt problems, which seriously affects the company's financing ability and restricts the company's development
.
After this sale, the listed company will concentrate its superior resources and further focus on the new energy business
.

Jiujiu Technology's new energy product is lithium hexafluorophosphate, which is one of the core raw materials for lithium-ion battery electrolytes, and lithium-ion batteries are widely used
in the fields of new energy vehicles, consumer electronics and energy storage.
After the production line of lithium hexafluorophosphate products of Jiujiujiu Technology has undergone energy-saving potential mining and optimization transformation, the actual production capacity has exceeded 6400 tons/year, ranking at the forefront
of the industry.

Jiangsu Kyushu Interstellar - high-quality assets

Ultra-high molecular weight polyethylene fiber is mainly used in military equipment, marine industry, security protection, sports equipment and other fields
.
Jiangsu Jiuzhou Xingji New Materials Co.
, Ltd.
, as the largest manufacturer of ultra-high molecular weight polyethylene fiber in China, the quality of bulletproof products prepared by Jiangsu has reached the international level
.

On July 30, Jiangsu Jiuzhou Xingji New Materials Co.
, Ltd.
with an annual output of 20,000 tons of ultra-high molecular weight polyethylene fiber expansion project laid the foundation
in Jiangsu Rudongkou Port Economic Development Zone.
The project will invest CNY 2.
39 billion
.

Whether from the perspective of product competitiveness or market trends, Kyushu Xingji is a high-quality target, and its products are also in line with China's strategic direction, and it itself said that the company has been fully produced in the first half of 2022 and sold nearly 500 million yuan
.
At present, the market share has reached 35%, and the annual sales are expected to reach 900 million yuan
.

Purchaser – less than a month old

The purchaser, Nanjing Jiuzhou Starworld, is a holding subsidiary of Nanjing Interstellar Mixed Reform Enterprise Management Partnership (Limited Partnership), with a shareholding ratio of 99%, and the Nanjing State-owned Assets Supervision and Administration Commission indirectly holds the equity of the company through the
Municipal State-owned Assets Group, Municipal Zijin Group, Municipal Urban Construction Group, Municipal Communications Group, Municipal Xingong Group, Municipal Tourism Group, Municipal Anju Group and Municipal Southeast Group.

According to the announcement, Nanjing Kyushu Starworld was established on November 16, 2022 with a registered capital of 100 million yuan
.

Exchange – Lightning Letter

*ST Bicon (Yan'an Bikang) issued an announcement on November 23, and received a letter of concern from the Shenzhen Stock Exchange the next day, asking the company to explain the reasons for the transfer of Kyushu Xingji's equity, the pricing basis and reasonableness of this transaction, and whether there is any situation
that harms the interests of listed companies.