Haotian International Construction Investment (01341) plans to acquire SEV Holding Pte. Ltd. Total 55% of total issued share capital

Zhitong Finance App News, Haotian International Construction Investment (01341) and Xinming Life Technology (00474) jointly announced that Haotian International Construction Investment has signed a non-legally binding letter of intent with the current shareholders (sellers) of the target company (see definition below). Based on this, Haotian International Construction Investment indicated its intention to acquire, and the seller indicated its intention to sell SEV Holding Pte. Ltd. (target company) has a total of 55% of the total issued share capital. The target company mainly provides one-stop solutions for electric vehicle sales, leasing, and electric charging in Singapore.

Xinming Life Technology Group and Haotian International Construction Investment Group seek investment opportunities from time to time to diversify and enhance their asset portfolios, expand their revenue sources, and accelerate the further growth of the Group as a whole. If implemented, the proposed acquisition will help the business development of Xinming Life Technology Group and Haotian International Construction Investment Group.

In recent years, many countries have promoted more aggressive new energy policies to stimulate the application of green energy around the world. Singapore clearly and vigorously promotes the electrification of Singaporean automobiles in the “2030 Green Development Blueprint” policy to help Singaporean automobiles achieve the goal of using 100% green energy by 2040. The target company is based in Singapore and is committed to gradually promoting the development of the green energy industry in Thailand and other countries, establishing one-stop service centers including electric vehicle sales and leasing, intelligent charging and switching networks, and photovoltaic solar energy to achieve integrated green energy cycle operation, and inject green impetus into social development and economic growth.

Considering the social benefits brought by the future green energy industry, the board of directors of Xinming Life Science and the board of directors of Haotian International Construction Investment believe that the proposed acquisition is a good opportunity for Xinming Life Technology Group and Haotian International Construction Investment Group to expand their business into the video energy market. The board of directors is optimistic about the future development and long-term returns of the target company of the acquisition.