BAIYU Enters into Definitive Agreement to Acquire Leading Energy Storage and Lithium Battery Company, Expanding into Renewable Energy Market
BAIYU Holdings (Nasdaq: BYU) has entered a definitive agreement to acquire Shenzhen Jintongyuan Energy Storage Technology, a leading Chinese tech enterprise specializing in energy storage batteries. The acquisition, valued at approximately US$105 million, marks BAIYU's expansion into the renewable energy storage battery market. Jintongyuan focuses on R&D, design, and services for energy storage batteries and lithium battery products, primarily serving the North American market. The company offers customized solutions for large electric power vehicles and aims to become a global leader in energy storage power and lithium battery product operations.
BAIYU's CEO, Ouyang Renmei, emphasized the acquisition's alignment with the company's vision of sustainable development and circular economy. The transaction is expected to close in September 2024, subject to customary closing conditions.
BAIYU Holdings (Nasdaq: BYU) ha firmato un accordo definitivo per acquisire Shenzhen Jintongyuan Energy Storage Technology, un'impresa tecnologica cinese leader specializzata nelle batterie per l'energia di stoccaggio. L'acquisizione, valutata circa 105 milioni di dollari USA, segna l'espansione di BAIYU nel mercato delle batterie per energia rinnovabile. Jintongyuan si concentra su ricerca e sviluppo, design e servizi per batterie di stoccaggio energetico e prodotti a batteria al litio, principalmente servendo il mercato nord americano. L'azienda offre soluzioni personalizzate per veicoli elettrici di grandi dimensioni e punta a diventare un leader globale nelle operazioni di stoccaggio energetico e prodotti a batteria al litio.
Il CEO di BAIYU, Ouyang Renmei, ha sottolineato che l'acquisizione è in linea con la visione dell'azienda di sviluppo sostenibile ed economia circolare. Si prevede che la transazione si concluda a settembre 2024, subordinata alle normali condizioni di chiusura.
BAIYU Holdings (Nasdaq: BYU) ha firmado un acuerdo definitivo para adquirir Shenzhen Jintongyuan Energy Storage Technology, una empresa tecnológica china líder especializada en baterías de almacenamiento de energía. La adquisición, valorada en aproximadamente 105 millones de dólares estadounidenses, marca la expansión de BAIYU en el mercado de baterías de almacenamiento de energía renovable. Jintongyuan se centra en la I+D, el diseño y los servicios para baterías de almacenamiento de energía y productos de baterías de litio, sirviendo principalmente al mercado norteamericano. La empresa ofrece soluciones personalizadas para vehículos eléctricos de gran tamaño y tiene como objetivo convertirse en un líder global en operaciones de almacenamiento de energía y productos de baterías de litio.
El CEO de BAIYU, Ouyang Renmei, enfatizó que la adquisición se alinea con la visión de la empresa de desarrollo sostenible y economía circular. Se espera que la transacción se cierre en septiembre de 2024, sujeta a condiciones de cierre habituales.
BAIYU 홀딩스(Nasdaq: BYU)는 심천진퉁위안 에너지 저장 기술을 인수하기 위한 최종 계약을 체결했습니다. 이 회사는 에너지 저장 배터리 전문 중국의 선도적인 기술 기업입니다. 약 1억 5천만 달러에 해당하는 인수는 BAIYU가 재생 에너지 저장 배터리 시장으로 확장하는 것을 의미합니다. 진통위안은 에너지 저장 배터리 및 리튬 배터리 제품에 대한 연구 개발, 설계 및 서비스를 주로 북미 시장을 대상으로 하고 있습니다. 이 회사는 대형 전기차에 대한 맞춤형 솔루션을 제공하며, 에너지 저장 전력 및 리튬 배터리 제품 운영의 글로벌 리더가 되는 것을 목표로 하고 있습니다.
BAIYU의 CEO인 오양 런메이는 이 인수가 회사의 지속 가능한 발전과 순환 경제 비전과 일치한다고 강조했습니다. 거래는 2024년 9월에 마감될 예정이며, 전통적인 마감 조건에 따라 진행됩니다.
BAIYU Holdings (Nasdaq: BYU) a signé un accord définitif pour acquérir Shenzhen Jintongyuan Energy Storage Technology, une entreprise technologique chinoise leader spécialisée dans les batteries de stockage d'énergie. L'acquisition, d'une valeur d'environ 105 millions de dollars américains, marque l'expansion de BAIYU sur le marché des batteries de stockage d'énergie renouvelable. Jintongyuan se concentre sur la R&D, le design et les services pour les batteries de stockage d'énergie et les produits à batterie lithium, servant principalement le marché nord-américain. L'entreprise propose des solutions personnalisées pour les véhicules électriques de grande puissance et vise à devenir un leader mondial dans les opérations de stockage d'énergie et de produits à batterie lithium.
Le PDG de BAIYU, Ouyang Renmei, a souligné que l'acquisition est en accord avec la vision de l'entreprise en matière de développement durable et d'économie circulaire. La transaction devrait être finalisée en septembre 2024, sous réserve des conditions de clôture habituelles.
BAIYU Holdings (Nasdaq: BYU) hat eine endgültige Vereinbarung über die Übernahme von Shenzhen Jintongyuan Energy Storage Technology, einem führenden chinesischen Technologieunternehmen, das sich auf Energiespeicherbatterien spezialisiert hat, getroffen. Die Übernahme, die auf etwa 105 Millionen US-Dollar geschätzt wird, markiert BAUY's Expansion in den Markt für Batterien zur Speicherung erneuerbarer Energien. Jintongyuan konzentriert sich auf F&E, Design und Dienstleistungen für Energiespeicherbatterien und Lithiumbatterieprodukte und bedient hauptsächlich den nordamerikanischen Markt. Das Unternehmen bietet maßgeschneiderte Lösungen für große Elektrofahrzeuge und strebt an, ein globaler Marktführer im Bereich der Energiespeicherung und des Betriebs von Lithiumbatterieprodukten zu werden.
Der CEO von BAIYU, Ouyang Renmei, betonte, dass die Übernahme mit der Unternehmensvision einer nachhaltigen Entwicklung und Kreislaufwirtschaft übereinstimmt. Der Abschluss der Transaktion wird für September 2024 erwartet, vorbehaltlich üblicher Abschlussbedingungen.
- Acquisition of Jintongyuan for US$105 million expands BAIYU's presence in the renewable energy storage battery market
- Jintongyuan's focus on the North American market provides BAIYU with access to a lucrative new geographic segment
- Acquisition aligns with BAIYU's strategy for sustainable development and circular economy
- Jintongyuan's customized solutions and full-lifecycle services could provide a competitive advantage in the energy storage sector
- Large cash outlay of US$105 million for the acquisition may impact BAIYU's short-term financial position
- Integration challenges and potential cultural differences between the two companies could affect synergy realization
- Expansion into a new industry sector (energy storage) may present operational and market risks for BAIYU
Insights
This acquisition marks a significant strategic shift for BAIYU, diversifying its portfolio into the high-growth renewable energy sector. The
Investors should note that BAIYU's move from a B2B e-commerce platform to a tech-focused energy company represents both opportunity and risk. The success of this pivot will largely depend on how well BAIYU can integrate Jintongyuan's operations and capitalize on the growing demand for energy storage solutions, particularly in North America.
Jintongyuan's focus on high-performance energy storage batteries and their application in large electric vehicles positions BAIYU well in the rapidly evolving clean energy landscape. The emphasis on safety, reliability and system integration in battery technology is important for market acceptance and regulatory compliance.
The company's intelligent services model and customized, all-scenario, full-lifecycle solutions approach could provide a competitive edge. However, reliance on third-party partners for production and installation may present challenges in quality control and scalability. BAIYU will need to carefully manage this aspect to ensure consistent product quality and timely delivery to maintain Jintongyuan's market position.
The energy storage market, particularly in North America, presents significant growth opportunities. With the increasing adoption of renewable energy and electric vehicles, demand for high-performance batteries is set to surge. Jintongyuan's focus on this market aligns with these trends.
However, competition in this sector is intense, with established players and new entrants vying for market share. BAIYU's success will depend on Jintongyuan's ability to differentiate its offerings through technological innovation and superior customer service. The customized sales model and end-to-end solutions approach could be key differentiators, but execution will be critical. Investors should monitor BAIYU's ability to leverage Jintongyuan's expertise to capture a significant share of this growing market.
Pursuant to the Agreement, BAIYU agrees to acquire
Jintongyuan is mainly engaged in the research and development (R&D), design, operation and maintenance, sales, and follow-up services of energy storage batteries, charging piles and lithium battery products, with a commitment to becoming a leading global energy storage power and lithium battery product operation service provider. Leveraging its advantages and expertise in the safety, reliability, and system integration of energy storage and lithium batteries, Jintongyuan now focuses on a new system integration business model supported by intelligent services, to enhance convenience and comfort for user experience. Currently, its energy storage battery products are mainly used in various large electric power vehicles such as electric trams, golf carts, forklifts, etc.
Jintongyuan currently focuses on the North American market, supported by a dedicated team in R&D, design, operation, maintenance, and sales. It secures orders through a customized sales model, overseeing the entire cycle from initial R&D and design to sales, operation and maintenance. Jintongyuan engages third-party partners for production and installation with customers' consent. Equipped with a robust technical management and control system, as well as an end-to-end system integration business system, Jintongyuan offers customized, all-scenario, and full-lifecycle solutions, including planning consultancy, design optimization, smart customization, intelligent operation and maintenance, and energy management.
Ms. Ouyang Renmei, CEO of BAIYU Holdings, Inc., stated: "The acquisition represents substantial progress in our expansion into the energy storage and lithium battery industries. Our goal is to drive Jintongyuan's growth and profitability through technological innovation and industrial upgrades. For years, we have advocated for global cooperation and competition as essential to achieving sustainable development and a circular economy. This acquisition aligns perfectly with our vision of a growth model centered on reduction, high efficiency, reuse, and recycling – an approach of strategically significance for global environmental optimization and carbon emission reduction. "
About BAIYU Holdings, Inc.
BAIYU Holdings, Inc. (NASDAQ: BYU) is a leading B2B bulk commodity e-commerce platform and supply chain service provider. Currently, the Company is focused on expanding its new business in photovoltaic, energy storage power, and fast-charging power stations, along with services for the new energy industry. The Company's business involves investing in fast-charging power stations, commercial power stations, and offering integrated new energy solutions and operations that encompass photovoltaic, energy storage, and fast-charging power stations. It offers comprehensive solutions and operations for global new energy storage systems and specialized sectors. With a central focus on new energy and an orientation towards integrated power systems, the Company is dedicated to fields like clean energy, smart power, intelligent photovoltaic, and the operation and maintenance of fast-charging station outlets. For more information, please visit www.baiyuglobal.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the
For more information, please contact:
BAIYU Holdings, Inc.
Investor Relations Department
Email: ir@baiyuglobal.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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