　　Midea Energy announced on the evening of March 20 that recently, Mido Energy and the original shareholders of Ruifu Lithium signed the "Midu Energy Co., Ltd. and the original shareholder of Ruifu Lithium Industry, Wang Mingyue and the management team to terminate the acquisition of Shandong Ruifu. The agreement of the equity of Lithium Industry Co., Ltd., the agreement of 9 people including Meidu Energy Co., Ltd., Yan Liang and Guo Chengyun on the termination of the acquisition of the equity of Shandong Ruifu Lithium Industry Co., Ltd., the main content is to consider the current market environment and other aspects. The parties intend to terminate the "Agreement on the Acquisition of the Equity of Shandong Ruifu Lithium Industry Co., Ltd. by Mido Energy Co., Ltd."， and the original management team of the target company repurchased the above 56.18% equity. After the completion of the transaction, Mido Energy also holds 14.86% of the equity of the target company. Mido Energy said that the company has started to negotiate with other original shareholders of the target company, and will completely withdraw from the equity of Ruifu Lithium after the agreement with other parties.

　　On March 23, 2018, Mido Energy passed the resolution on the agreement of Mido Energy Co., Ltd. to acquire the equity of Shandong Ruifu Lithium Industry Co., Ltd., and proposed to acquire 2.9 billion yuan in cash for Shandong Ruifu Lithium Industry Co., Ltd. 98.51% equity. The two sides of the transaction in the 2018, 2019 and 2020 set gambling performance of not less than 420 million yuan, 450 million yuan and 480 million yuan.

　　Mido Energy said that Wang Mingyue and the management team are required to pay 2018 performance compensation to listed companies. According to the preliminary audit of the listed company in 2018, the performance compensation for this performance is about 900 million yuan. According to the agreement of the original "Cash Acquisition Agreement", Midea Energy still has a 1 billion yuan equity transfer payment to be paid to Wang Mingyue and the management team within the next three years.

　　For the specific reasons for the termination of the acquisition, Mido Energy explained that since the company signed the relevant equity purchase agreement with the relevant counterparty in March 2018, the market environment has undergone major changes, and the company has terminated the acquisition and considered The target company and the current market environment and other factors, after the argumentation and research decisions, and have reached a consensus with the counterparty to fully communicate and friendly negotiations.

　　On the same day, Mido Energy announced that it received the "Inquiry Letter on the termination of the acquisition of Ruifu Lithium Industry by Mido Energy"， the SSE's reasonableness in terminating the acquisition, the performance of Ruifu Lithium Industry, and the high premium purchase of the listed company in the previous period. Ask for an inquiry.

　　It is worth noting that Midea's energy business covers real estate, petroleum, finance, new energy, commerce, hotels, etc. On the evening of July 25, 2018, Midea Energy announced that the company intends to put 12 major players in its real estate business segment. The company's equity was transferred to Deqing Wanli Real Estate Development Co., Ltd. in cash; the equity of Mido Energy （Singapore） Co., Ltd. held by it was transferred to Deqing Finance International Trading Co., Ltd. in cash, and the new energy business will be focused on in the future.

　　According to the information of Meidu Energy's official website, in the field of new energy, the company has initially completed the layout of the industrial chain from the "three-dimensional cathode material of lithium carbonate-lithium battery-three-dimensional power lithium battery" in the upstream of the new energy automobile industry chain.

　　The company has acquired a 60% stake in Haichuang Lithium, which currently has a precursor capacity of 12,000 tons and a cathode material capacity of 6,000 tons. Another 20,000 tons of ternary precursor project and 20,000 tons of ternary cathode materials are under construction. In March 2018, Meidu Haichuang Lithium Power Plant has started construction of a new 50,000-tonne new energy lithium battery material project. After the completion of the project, the annual production capacity of ternary precursors is 54,000 tons, the annual output of ternary cathode materials is 50,000 tons, and 80,000 tons of anhydrous sulfuric acid is produced.

　　The company's acquired Delangeng Power is mainly engaged in the lithium battery business. At the end of 2017, Delang can own three production bases in Zhangjiagang, Shanghai and Ningbo, with a total production capacity of 2.5Gwh.

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