High-lift on the torch of “power batteries”

First post by: www.batterystores.ca
Through asset Toshiba PA3399U-1BRS Battery reorganization, the company projects the successful introduction of motive power, goals against electric vehicles

Shanghai news in high-Ju (600,872) announcement today that, at present, Zhongshan City Zhongshan TOPSTAR Battery Co., Ltd. and the restructuring of high-tech company is progressing well. To December 2, 2003, the new company made TOPSTAR the Trade and Industry Bureau, Zhongshan City, the capital and re-issued business license after the merger. The new process is being TOPSTAR renamed “in Zhongshan Torch High-tech Co., Ltd.” procedures, is expected to be completed in January 2004.

It is reported that May 23, 2003, in the fourth high-tech torch the eighth meeting of the Board of Directors considered and adopted the “green on the high-tech materials with the National Center for the development of new companies and TOPSTAR motion to restructure the company,” and authorized management team for the Toshiba PA3395U-1BRS Battery signing of contracts, capital reduction, absorption merger, capital and changed its name specific issues.

According to the disclosure of the restructuring plan at the time showed that: in the torch high-tech enterprises, the reorganization of new energy is high the torch of a new wholly-owned company as a platform TOPSTAR to green materials center as a technology based on the merger through absorption Zhongshan, the introduction of green materials Center for the assessed power battery technology and some of the key production equipment, to absorb the key management and technical personnel to increase funding to complete the torch high in the reorganization of the new energy Toshiba PA3250U-1BRS Battery industry.

Information shows that the new TOPSTAR company was founded in July 1993, the registered capital of 80 million yuan, is the torch high and new wholly-owned subsidiary, operates mainly in the scope of the production of hydrogen for nickel, nickel-cadmium battery product line, mobile phone batteries, mobile phone accessories, rechargeable batteries and battery accessories and marketing materials. Zhongshan company was founded in March 1992, 14 million yuan registered capital, paid-up capital of 21,300,000 yuan, in 1000 the actual high-Ju million, representing 49% company has been responsible for the establishment of the “863″ Ni-MH battery products in the test tasks, the promotion of China’s nickel-hydrogen batteries have contributed to Toshiba PA3356U-1BRS Battery industrialization.

Ni-MH battery as a productive enterprise, the new company’s R & D capability TOPSTAR weak, with the development of new technologies and applications, new industries TOPSTAR company risk and market risk and gradually increase. Through the absorption of green materials center power battery technology, enterprises will be an extension of product lines, technology and development will be strengthened, the forefront of the industry on behalf of the battery power battery technology will further enhance the core competitiveness of enterprises, and promote healthy and rapid development of business Toshiba PA3291U-1BRS Battery continuity.

Notice that, according to the new TOPSTAR corporate restructuring in four major steps. First, in the torch high-tech company to recover the new TOPSTAR part of the idle plant and equipment net book value 27.23 million yuan, and its book value of net assets to 43.91 million yuan from 16.68 million yuan, and in October 27, 2003 completed procedures owned by the registered capital. Second, green materials and first-yi, respectively, 4.55 million yuan in cash and 3.6 million yuan to buy the plate in the torch high-tech workshop, power distribution room, and some land-use rights. TOPSTAR three new companies to increase the registered capital of 45 million yuan. In the torch to a new high-tech companies TOPSTAR registered capital of 16.68 million yuan investment, together with the torch of a new integrated high-tech building, the first 25 and the price of electricity supply and distribution projects funded 7.62 million yuan of assets, together with part of the company’s Toshiba PA3506U-1BRS Battery accounts receivable 1.8 million yuan debt financing, funded a total of 26.1 million yuan, accounting for 58% stake; green materials center to power batteries proprietary technology investment 10,750,000 yuan price agreements to the transferee in the Ju-funded high-tech plant 4.55 million yuan of assets, invested a total of 1530 million, representing 34% equity; new operators TOPSTAR company to the transferee in the first Ju-yi’s high-tech plant assets 3,600,000 yuan, accounting for 8% stake. Fourth, the new company to receive full TOPSTAR assets, bear the torch to remove in the high-tech capital have been made 180 million yuan debt other than debt claims equivalent combined company to absorb.

Notice that this new energy enterprise restructuring is to integrate high-tech torch resources, enhance the enterprise’s core competitiveness of an important measure. Through the recovery of the original high-tech torch into the new company’s idle TOPSTAR property for investment and property leasing, will effectively put the stock of assets, create new benefits. At present, the part of the rental properties have all been filled. The torch of the reorganized company is expected within three years sales revenues and net profit will be 25 percent annually -30%, and the battery as a power in the reorganized company’s strategic torch project, with the promotion of electric vehicles, power battery will become the torch high in the new profit Toshiba PA3591U-1BRS Battery growth point.