Baiyu Holdings, Inc. (BYU), a leading B2B bulk commodity e-commerce platform, announced on Tuesday that its wholly-owned subsidiary, Shenzhen Baiyu Jucheng Data Technology Co., LTD., has signed an agreement with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. Jintongyuan is a renowned Chinese manufacturer of high-performance energy storage batteries.Under the terms of the agreement, Baiyu Holdings will acquire Jintongyuan for RMB 750 million, payable in installments.This strategic acquisition, set to close around September, marks a significant milestone in Baiyu’s strategy to enter the renewable energy storage battery market.Ouyang Renmei, CEO of Baiyu Holdings, stated, “This acquisition signifies substantial progress in our expansion into the energy storage and lithium battery sectors. It aligns perfectly with our vision of a growth model focused on reduction, high efficiency, reuse, and recycling – a strategy of critical importance for global environmental optimization and carbon emission reduction.”The material has been provided by InstaForex Company – www.instaforex.com
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