Snowsky Salt plans acquisition of Kuntian New Energy

On August 29, Snowsky Salt Industry announced that it is planning to acquire a controlling stake in Hebei Kuntian New Energy Co., Ltd. through a combination of share issuance and cash consideration. The Company also intends to raise additional matching funds by issuing shares to no more than 35 designated investors in a private placement.

Kuntian New Energy is a research, development, and production enterprise specializing in lithium-ion battery anode materials. Its core business focuses on the R&D, manufacturing, and sales of artificial graphite products for lithium-ion batteries. These products are primarily used in automotive power batteries and consumer batteries, with indirect applications spanning buses, passenger vehicles, energy storage systems, power tools, mobile phones, laptops, and other electronic devices.