67% stakes marked Topband shares

Topband lithium battery company a controlling stake in lithium battery concept of transfer of shares shine As last year's acquisition of Shenzhen Xin Yu city power technologies limited (hereinafter referred to as Xin Yu City) 67% stakes marked Topband shares (002139, closed at $ 11.07) formal transformation into the lithium battery industry. Later introduced the programme of additional the old republic power leveling, intends to raise up to $ 330 million in funding for lithium battery project construction. However with the issuance of this yearAbortion, Topband shares on the development of lithium-ion battery seemed to have lost confidence. Company announcement today, abandoning Xin Yu city added registered capital contributions funding priority, Zhang Enrui of natural persons will become the new master Xin Yu city. Topband shares disclose in the notice, the company adopted the abandoning of the Board for Shenzhen Xin Yu City Power Technology Ltd added registered capital contributions funding priority of motions, Agreed to by a natural person Zhang Enrui unilaterally funded $ 20 million, increase the registered capital of the Xin Yu city from $ 25 million to $ 45 million. After the capital increase and share expansion is completed, Zhang Enrui 44.44% Xin Yu city stake, became the controlling shareholder, Topband shareholder 37.23%, relegated to the second. Notice also showed that Zhang Enrui and Topband shares not associated relationship.Topband shares, said the capital increase and share expansion is completed, Xin Yu city will be majority-owned subsidiaries into shares of subsidiaries will not be included in the consolidated financial statements of the company-wide, however, the companies ' ability to continue as a going concern and financial conditions of no significant impact. Public information displays, in 2010, Topband shares take acquired 67% shares in Xin Yu city, officially enter the lithium battery industry. ButXin Yu city 2010 year of losses, failed to bring real benefits to the company. Topband shares had introduced the programme intends to raise up to $ 330 million of additional funds for lithium battery project construction. However, with the shares of the company remained in the doldrums, the directional add-issuance programme eventually stranded. Issue not raise investment and funding of the project allows for a substantial reduction in, which sought to transition Topband stakes in lithium-ion battery-freeSuspect is a setback. Now hand over control of transfer, also marks the lithium battery concept of Topband shares shine a lot.