30% equity transfer

- Dec 13, 2016-

Youngy shares (002192) announcement that the company intends to 11 million 850 thousand yuan price will be a subsidiary of Wuhu days Battery Systems Co. Ltd. (hereinafter referred to as the "day of battery") 30% equity transfer to Wuhu Tianyi energy science and technology limited company (hereinafter referred to as "Wuhu Tian Yi").          

Data show that the amount of battery is a research and development, production and sales of lithium ion battery control system, consumption of lithium ion batteries, lithium ion battery, lithium ion battery protection board, electric vehicle battery box, storage battery box and a battery management system of high-tech enterprises.          

Wuhu Tianyi main R & D, production and sales of electric vehicles with power lithium ion battery, lithium ion battery, the energy consumption of materials and energy equipment (except those involving pre licensing); new energy technology development; self and agent all kinds of goods and technology import and export business (national companies to limit or prohibit the import and export of goods and technology except).          

Rong Jie said the company shares, the transfer of Wuhu days 30% stake, is due to the lithium battery industry subsidy policy standard has not yet been determined, the market environment of the lithium battery industry will face a significant change, industrial restructuring, developing downstream market uncertainty.

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