Abstract: On the evening of December 29, Zijiang Enterprise announced that it planned to terminate the spin-off of its holding subsidiary, Zijiang New Materials, to be listed on the Growth Enterprise Market (GEM) and apply for listing on the National Small and Medium-sized Enterprise Share Transfer System (**).
On the evening of December 29, Zijiang Enterprise (600210) announced that in order to make overall arrangements for the business development and capital operation planning of Zijiang New Material, a holding subsidiary of Zijiang Enterprise, the company intends to terminate the spin-off of Zijiang New Material to be listed on the Growth Enterprise Market of Shenzhen ** Exchange and withdraw the relevant listing application documents after full communication and prudent argumentation with relevant parties.
According to the data, Zijiang New Materials is an independent business operation platform for Zijiang enterprises focusing on the research and development, production and sales of aluminum-plastic composite films for pouch lithium batteries. The company's GEM IPO application was accepted in June 2022 and entered the inquiry stage the following month.
In addition, according to the 2023 semi-annual report released by Zijiang Enterprises, in the first half of the year, Zijiang New Materials achieved sales of 2,558 aluminum-plastic films410,000 square meters, a year-on-year increase of 4198%。In recent years, the company has continuously expanded and deepened cooperation with downstream pouch battery customers, strengthened technical exchanges with large lithium battery manufacturers, and increased the market share of its own products.
Zijiang New Materials said that the termination of the spin-off will not have a substantial impact on the company, will not have a significant adverse impact on the company's existing production and operation activities and financial condition, and will not affect the company's future development strategy.
After the termination of the spin-off and listing, Zijiang New Materials intends to apply for listing in the first place, and in the future, according to the capital market environment and strategic development needs, it will deploy and promote the follow-up listing plan in an orderly manner.