Crystal New Materials is showing strong performance. This is interpreted as being influenced by news of acquiring a Chinese company for the development of graphene lithium batteries.
As of 9:27 AM on the 20th, Crystal New Materials is trading at 1,545 KRW, up 9.65% compared to the previous day.
On the same day, Crystal New Materials announced that its board of directors passed a resolution to acquire 85% of the shares of Pingzhang Co., Ltd. The acquisition price is a total of 250 million yuan (approximately 46.2 billion KRW), of which part will be paid in cash amounting to 50 million yuan (approximately 9.2 billion KRW), and the remainder will be paid through new share allotment.
Pingzhang Co., Ltd.'s subsidiary, Pingzhang Xian Yuefeng Mica New Materials Co., Ltd., established in 2015, is a company specializing in high-temperature insulation materials and mica products. Its main products include mica paper, thermal mica plates, refractory mica films, and special-shaped mica components.
It has customers in industries such as new energy, automobiles, smart home appliances, and special electric cables. Additionally, it holds 20 invention patents and utility model patents.
Crystal New Materials stated that, together with the Yuefeng Mica scientific research team, it plans to realize the layout of graphene carbon crystal heating film products and pioneer package products related to graphene lithium battery modules for new energy vehicle manufacturers such as BYD, thereby laying the foundation for the long-term growth of the mica and graphene industries.
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