Yinlong New Energy Storage Business

Who is Yinlong energy?

They are ideally suited to meet all your city, highways, and rural transportation requirements. Yinlong Energy International Pte Ltd, is the international office of Gree Altairnano New Energy (previously know as Yinlong Energy China Ltd). We provide Energy Storage Systems, LTO Batteries, Commercial Electric Vehicles, and Electric chargers.

Will Yinlong energy buy Gree Electric Appliances?

(Yicai Global) Aug. 31 -- Gree Electric Appliances has successfully bid for a majority stake in energy storage device manufacturer Yinlong Energy, after a failed takeover attempt in 2016, as the Chinese home appliance giant looks to diversity its product portfolio.

How much did GREE pay for Yinlong?

Gree has paid CNY1.83 billion (USD282.9 million) for 30.47 percent equity in Yinlong, which also makes electric buses, electric vehicle charging devices and other energy storage systems, the Zhuhai, southern Guangdong province-based firm said today.

Will Yinlong technology boost GREE's market share?

The application of Yinlong technology in Gree’s car products which will also help boost market share, it added. The shares were put up for sale by a local court as Yinlong’s ex-chairman Wei Yincang is wanted by police for allegedly embezzling CNY1 billion (USD154.8 million) of corporate funds.

Did GREE buy Yinlong?

Gree offered to acquire Zhuhai-based Yinlong in November 2016 for CNY13 billion (USD2 billion) but was rejected by majority shareholder Zhuhai Yinlong Investment Holding Group. Sticking to her guns, Dong spent CNY2.6 billion of her own funds to become its second largest stakeholder.

How much did Yinlong lose last year?

Yinlong racked up losses of CNY682 million (USD105.5 million) last year on revenue of CNY4.3 billion (USD669.3 million), it said earlier. The firm’s sales of electric buses ranked fourth in the country in the first seven months. Gree’s share price [SHE:000651] closed up 0.24 percent at CNY41.10 (USD6.40) today.