In the evening of September 9, 2014, Dongyuan Electrical, a company which had been delisted for 5 months, announced restructuring plan. It planned to purchase 100% equities (estimated value: RMB3.35 billion) of Guoxuan High-tech Power Energy Co., Ltd.

Listing of Guoxuan High-tech is full of twists and turns. Its first listing application was launched in October, 2012, but had to be terminated since China Securities Regulatory Commission stopped verification of IPO. In April, 2014, Guoxuan High-tech filed listing application again and finally realized back-door listing. 
 
Guoxuan High-tech’s strong demand for capital is a major factor contributing to accelerated listing process. In early 2014, its LiFePO4 battery production and R & D project was built Wuhan Hannan Industry City of Hubei province. With planned investment of RMB3 billion, the project can produce 50-million-Ah LiFePO4 batteries each year upon completion, and may generate annual output value of over RMB5 billion. By the end of 2013, the company’s annual capacity for LiFePO4 battery had reached 100 million Ah.
 
With respect to electric bus field, Guoxuan High-tech’s major customers include JAC, Ankai Bus, King Long, etc. In 2013, the company provided batteries to 1,000 units of electric buses produced by companies like Ankai and King Long, offered batteries to 1,300 units of electric passenger cars produced by enterprises like JAC, and obtained revenue of RMB900 million. In 2012, the company provided 2,700 sets of battery packs to JAC’s iEV3 and 200 sets to Ankai’s electric buses. Mentioned two customers brought revenue of RMB400 million, accounting for 66.7% of Guoxuan’s total in that year.