Highpower International (HPJ) Reports Q2 EPS of $0.15

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Go back to Highpower International (HPJ) Reports Q2 EPS of $0.15

Highpower International (HPJ) to Take 50% Stake in EV Battery Solutions Provider Huizhou Yipeng

August 12, 2016 7:07 AM EDT

Highpower International, Inc. (Nasdaq: HPJ) announced that its wholly-owned subsidiary, Huizhou Highpower Technology Co., Ltd, has entered into an agreement ("Agreement") to acquire up to 50% equity interest in Huizhou Yipeng Energy Technology Co., Ltd. ("Huizhou Yipeng"), an electric vehicle power battery system solutions provider specializing in the plug-in hybrid electric vehicle (PHEV) and electric vehicle (EV) bus market in China.

Pursuant to the Agreement, the Company will invest RMB114.75 million (approximately $17.3 million) consisting of an aggregate of $5.2 million in cash and $12.1 million of power battery equipment into Huizhou Yipeng for a 50% equity interest. On... More