Xinlun Technology

Xinlun Composite Technology (Changzhou) Co., Ltd., a subsidiary of Xinlun Technology, signed a strategic cooperation and procurement framework agreement with Fenergy Technology (Ganzhou) Co., Ltd. From May 2018 to December 2020, Fenergy will purchase lithium-ion battery aluminum-plastic film products totaling at least 19 million square meters, with an estimated value of no less than CNY 500 million.

Xinlun Technology and Akron Polymer Systems will establish a joint venture, Julun Materials Technology (Shenzhen) Co., Ltd., with Xinlun investing 35 million yuan (70% stake) and Akron contributing proprietary technology valued at 15 million yuan (30% stake). Total planned investment is about 125 million yuan.

Xinlun Technology's Hong Kong subsidiary will acquire 45% of Akron Polymer Systems for $9.9 million, becoming the largest shareholder. The deal includes a joint venture to form a polymer materials technology incubation platform in Shenzhen.

Xinlun Technology's subsidiary Xinlun Composite Materials signed a raw material procurement framework contract with Do-fluoride (Jiaozuo) New Energy Technology for aluminum-plastic film products. The contract covers a total demand of 2.31 million square meters from July 2017 to June 2018.