News and Information

Lithium-ion Battery Separator Startup Raises RMB 1.37 Billion—Post-Investment Valuation of Changzhou Housheng New Energy Reaches RMB 7 Billion

Release Date:

2022-08-28

It has recently been learned that Jiangsu Housheng New Energy Technology Co., Ltd., a rising star in the lithium-ion battery separator industry headquartered in Jintan District, Changzhou City, is on the verge of completing an equity financing round totaling RMB 1.37 billion. The round has attracted participation from 11 prominent investment institutions, including China International Capital Corporation, China Development Bank Fund, Jiangsu Lianquan, Industrial Securities Asset Management, National Investment Fund, Jianxin Fund, GF Qianhe, Cornerstone Capital, and other well-known firms.

[Abstract] It has recently been learned that Jiangsu, a rising star in lithium-ion battery separators headquartered in the Jintan District of Changzhou City— Housheng New Energy The technology company is about to be completed. RMB 1.37 billion in equity financing This round saw the participation of a total of 11 investment institutions, including: CICC Capital, China Development Bank Fund, Jiangsu Lianquan, Industrial Bank Asset Management, National Investment Fund, China Construction Bank Fund, GF Qianhe, and Cornerstone Capital and other well-known institutions.

This capital increase The price per share is RMB 3.98. , following the capital increase, the company’s registered capital will be RMB 1.75 billion, that is, this The post-investment total valuation is RMB 6.965 billion. 。

Housheng’s most recent financing round took place in December 2021, with the subscription price set at RMB 1.5 per share. More than six months, Financing costs have risen by 165.33%. , indicating that the company’s fundamentals have undergone significant changes.

Housheng New Energy is a company specializing in the R&D, production, and sales of wet-process base films and functional coated separators in various specifications. Housheng New Energy was established in Construction officially commenced in 2018, and four base film production lines have now been completed. Production capacity has been gradually ramped up since the fourth quarter of 2021. In 2021, Housheng New Energy established a wholly owned subsidiary in Taiyuan, Shanxi Province—Shanxi Housheng New Materials Technology Co., Ltd.—which is planned to build 16 base-film production lines and several coating-production lines.

From January to April this year, Housheng’s audited financial results were as follows: operating revenue of RMB 105 million and net profit of RMB 10.37 million.

The investor in this capital increase for Housheng New Energy

Financial Summary of Housheng New Energy

Equity Structure Prior to This Capital Increase

Equity Structure After Completion of This Capital Increase

Development History of Housheng New Energy

On October 28, 2017, Collaborative Innovation Investment and Dingying Investment were in Jintan. Establishment of Housheng New Energy Co., Ltd. , the lithium-battery separator project is being implemented. The registered capital totals RMB 500 million, with Xietong Innovation Investment contributing RMB 440 million, representing 88% of the registered capital, and Dingying Investment contributing RMB 60 million, representing 12% of the registered capital.

July 8, 2019, Changchai and Changzhou Investment Group each contributed RMB 50 million. Each party shall separately acquire the right to contribute RMB 50 million in unpaid capital contributions held by Co-Innovation Investment in Housheng New Energy, with each holding a 10% equity interest.

On September 4, 2019, Housheng New Energy, with Increase capital by RMB 100 million at a price of RMB 1 per share. The company has brought in Changjiang Chendao (Hubei) New Energy Industry Investment Partnership (Limited Partnership), increasing its registered capital to RMB 600 million. At the same time, Co-Innovation Investment has transferred its unfulfilled capital contribution of RMB 200 million—valued at RMB 1 per share—to six investors, including Changjiang Chendao and Zhaoyin International Capital Management (Shenzhen) Co., Ltd.

In December 2020, Dingying Investment, Changchai, the Investment Group, Shenzhen Zhaoyin No.1 Innovation and Entrepreneurship Investment Partnership (Limited Partnership), Zhuhai Growth and Win-Win Venture Investment Fund (Limited Partnership), and Changzhou Huajun Industrial Investment Partnership (Limited Partnership) jointly... A total of RMB 273 million was injected into Housheng New Energy at a price of RMB 1.05 per share. A capital contribution of RMB 260 million has been subscribed for the newly added registered capital of Housheng New Energy, increasing its total registered capital to RMB 860 million. Changchai and the Investment Group each contributed an additional RMB 26.25 million, subscribing to RMB 25 million of the new registered capital, resulting in Changchai holding an 8.72% equity stake.

In June 2021 and December 2021, HouSheng New Energy respectively, with A price of RMB 1.50 per share With the participation of investors including Taiyuan Gongying New Materials Investment Partnership (Limited Partnership), China State-owned Enterprises Structural Adjustment Fund Co., Ltd., Beijing Huading Xindongli Equity Investment Fund (Limited Partnership), Yibin Chendao New Energy Industry Equity Investment Partnership (Limited Partnership), Changxing Houpu Equity Investment Partnership (Limited Partnership), Ningbo Meishan Bonded Port Area Chaoxing Venture Capital Partnership (Limited Partnership), and Chongqing Zhaoying Langyao Growth Phase II Equity Investment Fund Partnership (Limited Partnership), Housheng New Energy’s registered capital has been increased to RMB 1,405,622,491.

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Email:JSHS@horizon-tech.cn

Postal Code: 213200

Address: 111 Huaye Road, Jintan District, Changzhou, China