Sunrise New Energy Acquires Zibo Jinsheng for $20.7M
Ticker: EPOW · Form: 6-K · Filed: Sep 16, 2024 · CIK: 1780731
| Field | Detail |
|---|---|
| Company | Sunrise New Energy Co., Ltd. (EPOW) |
| Form Type | 6-K |
| Filed Date | Sep 16, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, new-materials, shareholder-meeting
TL;DR
Sunrise New Energy just bought Zibo Jinsheng for $20.7M to boost its new materials biz.
AI Summary
Sunrise New Energy Co., Ltd. held an Extraordinary General Meeting on September 16, 2024, where shareholders approved the proposed acquisition of 100% of the equity interests in Zibo Jinsheng New Material Co., Ltd. for a purchase price of RMB 150 million (approximately $20.7 million USD). This acquisition is expected to enhance the company's product portfolio and market competitiveness.
Why It Matters
This acquisition could significantly expand Sunrise New Energy's market presence and product offerings in the new materials sector, potentially leading to increased revenue and profitability.
Risk Assessment
Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and the success of Zibo Jinsheng's operations will directly impact Sunrise New Energy's financial performance.
Key Numbers
- RMB 150 million — Acquisition Price (Cost to acquire Zibo Jinsheng New Material Co., Ltd.)
- $20.7 million — Acquisition Price (USD) (Approximate USD equivalent of the acquisition price)
Key Players & Entities
- Sunrise New Energy Co., Ltd. (company) — Filer and acquirer
- Zibo Jinsheng New Material Co., Ltd. (company) — Target company being acquired
- RMB 150 million (dollar_amount) — Purchase price for Zibo Jinsheng
- $20.7 million USD (dollar_amount) — Approximate USD equivalent of the purchase price
- September 16, 2024 (date) — Date of the Extraordinary General Meeting
FAQ
What was the primary purpose of the Extraordinary General Meeting held on September 16, 2024?
The primary purpose was for shareholders to vote on and approve the proposed acquisition of 100% of the equity interests in Zibo Jinsheng New Material Co., Ltd.
What is the total purchase price for Zibo Jinsheng New Material Co., Ltd.?
The purchase price is RMB 150 million, which is approximately $20.7 million USD.
What percentage of Zibo Jinsheng New Material Co., Ltd. is Sunrise New Energy acquiring?
Sunrise New Energy is acquiring 100% of the equity interests in Zibo Jinsheng New Material Co., Ltd.
What is the expected benefit of this acquisition for Sunrise New Energy?
The company expects the acquisition to enhance its product portfolio and market competitiveness in the new materials sector.
What is the filing form and date?
This is a Form 6-K filed on September 16, 2024.
Filing Stats: 425 words · 2 min read · ~1 pages · Grade level 10.4 · Accepted 2024-09-16 16:10:18
Filing Documents
- ea0214693-6k_sunrise.htm (6-K) — 15KB
- 0001213900-24-078964.txt ( ) — 16KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: September 16, 2024 Sunrise New Energy Co., Ltd. By: /s/ Haiping Hu Name: Haiping Hu Title: Chief Executive Officer and Chairman of the Board of Directors 2