Zhejiang Narada Power Divests Lead Recycling Business to Focus on AIDC Lithium-ion Energy Storage
Zhejiang Narada Power Source Co., Ltd. announced a strategic transformation to focus on AIDC lithium-ion energy storage by divesting its lead recycling business. The company will transfer 100% of Anhui Huabo Renewable Resources Technology Co., Ltd. to Anhui Houji Lianeng for 1.415 billion RMB. This move aims to enhance Narada's competitiveness in lithium-ion technology and improve cash flow, with expected returns of 2.565 billion RMB. Additionally, Narada plans to launch a financial leasing business to support its strategic focus.
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On March 12th, Zhejiang Narada Power Source Co., Ltd. announced a strategic shift towards AIDC lithium-ion energy storage by divesting its lead recycling business. The company will transfer its wholly-owned subsidiary, Anhui Huabo Renewable Resources Technology Co., Ltd., to Anhui Houji Lianeng Operation Management Partnership for 1.415 billion RMB.
This decision aims to optimize asset structure and improve cash flow, with total returns expected to reach 2.565 billion RMB. Narada also plans to use equipment assets to launch a financial leasing business, enhancing its financial stability while focusing on lithium-ion energy storage.
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