THXN(SZ:300390) Mei Ri Jing Ji Xin Wen·2025-09-12 15:19Core Viewpoint - Tianhua New Energy plans to acquire 75% equity of Suzhou Tianhua Times New Energy Industry Investment Co., Ltd. from its controlling shareholder Pei Zhenhua for approximately 1.25 billion yuan, aiming to integrate lithium mining assets into its corporate structure [2][5]. Group 1: Acquisition Details - The acquisition is valued at approximately 1.25 billion yuan, based on a professional assessment that values 100% of Suzhou Tianhua Times at around 1.67 billion yuan as of June 30, 2025 [6]. - The transaction requires approval from the shareholders' meeting after being reviewed by Tianhua New Energy's board of directors [4]. - Pei Zhenhua will receive about 1.25 billion yuan for the equity transfer, which corresponds to his 75% stake in Suzhou Tianhua Times [5]. Group 2: Financial Performance of Suzhou Tianhua Times - As of June 30, 2025, Suzhou Tianhua Times reported total assets of approximately 1.816 billion yuan and net assets of about 1.67 billion yuan, with a net profit of 86.437 million yuan despite zero revenue for the first half of the year [3]. - The net profit is primarily derived from the reversal of bad debt provisions and returns from idle fund investments [3]. Group 3: Future Commitments and Risks - Pei Zhenhua has made a forward-looking commitment regarding potential impairment of the equity value, agreeing to compensate Tianhua New Energy in cash if a valuation impairment occurs by December 31, 2027 [6]. - The company has highlighted the uncertainties associated with the lithium mining investments, urging investors to be aware of the risks involved [3].