Far East Smarter Energy spent RMB1.2 billion on acquisition of Forster New Energy to wholly own the

     Recently, Far East Smarter Energy Co., Ltd. (abbreviation: Far East Smarter Energy, Stock Code: 600869) and Jiangxi Forster New Energy Group Co., Ltd. held the signing ceremony. Smarter Energy intended to issue shares and make cash payment to 3 shareholders of Forster for acquisition of 100% shares of the subject company, and the procurement price was RMB 1.2 billion, which means that Far East Smarter Energy has wholly owned Forster New Energy.

Signing ceremony field 1

     Jiang Xipei, Chairman of the Board and Chief Executive Officer of Far East Holding Group and Chairman of Far East Smarter Energy, Jiang Huajun, Director of the Group and Managing Director of Far East Smarter Energy, Bian Huatuo, Director of the Group, Director of Far East Smarter Energy and Chairman of HARLYN Capital, Wang Chuanbin, Director of Far East Smarter Energy, Senior Deputy General Manager and Chief Technology Officer of Cable Industry, and Chief Quality Officer, Jiang Chengzhi, Director of the Group and Secretary of the Board and all other directors, supervisors and senior managers of Far East, as well as Cai Daoguo, Cai Qiang and Cai Dong, founder, shareholder and shareholder representative of Forster New Energy took part in the signing ceremony.

Signing ceremony field 2: Cai Qiang, Cai Daoguo, Jiang Xipei, and Cai Dong sitting on the front row

      Forster New Energy since it joined the lithium battery energy storage industry in 2005, has always been committed to research and development, manufacturing and sales of high-quality lithium batteries, battery cells, and new energy power batteries, and has now developed into a national high-tech enterprise with strong operational ability, high level of profitability, and adequate innovation strength. The company mainly operates new energy vehicle battery, solar energy storage battery, wind energy storage battery, base station energy storage battery, notebook power battery, mobile power batteries and other products, with daily lithium-ion battery capacity of up to 1 million, and is 18650 lithium ion battery production enterprise with the largest production scale at home, second only to Samsung and Panasonic. In the context of the state vigorously developing and encouraging new energy, Forster will give play to its position advantage and R & D advantage, integrate teams, focus on layout of new energy power batteries, energy storage base stations and other areas and devote itself to becoming a new energy system service provider.

      Acquisition of Forster is a key aspect of Smarter Energy to improve its strategic map and is also the key path for Smarter Energy to enrich its industrial chain.  The company began to focus on building into "Smarter energy and Smarter city system service provider" in 2013, and got through several key points in the energy field, including design planning and distributed power generation -- Shanghai Intelligence Power; intelligent power transmission and distribution services -- Beijing SEMEUREKA Electrics; this investment was applied to Traffic Data, aiming at entry into Smarter city application data. These important initiatives indicate that Smarter Energy is holding merger opportunities and moving gradually towards the established goals. We are looking forward to the company’s better future.

Signing ceremony field 3