CBAK Energy to acquire 81.56% of Hitrans for ~$24.5M; aims to close Q3 2021

CBAK Energy Technology, Inc.

Total consideration RMB158.74M (~$24.5M) for 81.56% equity of Hitrans, a lithium battery material supplier.
Acquisition includes 60% from Meidu Graphene for RMB118M ($18.21M) and 21.56% from management for RMB40.74M ($6.29M).
CBAK Power to lend Hitrans RMB131M ($20.22M) to remove existing freezes on shares due to litigation.
Company expects to strengthen supply chain and competitiveness in high-power lithium battery market.
Previous security deposit of $3.05M partially returned; Juzhong Daxin retains RMB5M ($0.77M) as commission.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.