Xinda New Materials officially changed its name to Yicheng Xinneng

In order to give full play to the advantages of listed companies' platforms, optimize the internal resources allocation of China Pingmei Shenma Group, accelerate the layout of new and new materials and emerging industries, reflect the company's strategic integration and industrial planning layout, and promote the integration and coordination of the company's overall operations and strategies. According to the actual needs of the company's business development and brand building, on November 17, 2015, the company's second extraordinary shareholders meeting in 2015 reviewed and approved the “Proposal on Changing the Name of the Company and Increasing the Business Scope” and “On the Revision and Related Systems”. The company's name plan, the meeting decided: the company's Chinese name was changed to "Henan Yicheng New Energy Co., Ltd."; the English name was changed to [Henan Yicheng New Energy Co., Ltd.]; the company's securities abbreviation was changed to "Yi Cheng New energy"; the changed company's English abbreviation is: YCXN.
Approved by the company and approved by the Shenzhen Stock Exchange, the Chinese name of the company has been changed to “Henan Yicheng New Energy Co., Ltd.” since November 27, 2015; the English name is [Henan Yicheng New Energy Co., Ltd. 】, the company's securities abbreviation changed to "Yi Cheng Xin Neng". The company's securities code remains unchanged and remains "300080".

Comments: From the company name alone, the change from “Xinda New Materials” to “Yicheng Xinneng” can be seen that the company's strategic development direction has changed from “new materials” to “new energy”. From the acquisition announcement issued by Xindaxin on the evening of November 17, it plans to acquire 40% equity of Zhongping Zibo (R&D and sales of lithium ion battery anode materials, etc.) and Lienergy Photovoltaic (development, construction and operation management of photovoltaic power station projects) 100% of the shares can be seen, the new large new materials will achieve a comprehensive and comprehensive layout from the supply of basic materials to the new energy field.
From the perspective of Xindaxin Materials Co., Ltd., as a leading enterprise of photovoltaic blade (silicon carbide), the glory of the company has been obvious, but the company's product application is relatively simple (the main products include new sand, recycled sand and diamond wire). External factors, over-reliance on the photovoltaic industry, due to the instability of the photovoltaic industry, the company's profitability decline, especially this year's performance is more obvious, although the diamond line project is profitable but can not reverse the company's overall loss situation, new big new material Announcement disclosed that the net profit attributable to shareholders of listed companies in the first three quarters of 2015 was -915.98 million yuan; from the internal factors of the industry, the development of photovoltaic industry in the past few years, the explosive growth of silicon carbide cuttings enterprises, bringing the current peers Compared with the small and medium-sized enterprises, the cost disadvantage of listed companies is undoubted, which hinders the development of enterprises. In order to find a way out, new and new materials must be strategically adjusted. At this time, the renaming of new and new materials is actually a change of strategic direction. The company’s announcement also pointed out that the scope of business has increased “research and development of photovoltaic power generation technology”, indicating new Daxin Materials is extended from photovoltaic blade suppliers to the photovoltaic new energy industry chain. Expanding the scope of business, extending the industrial chain, and taking a diversified development path will enhance the ability to resist risks. In the future, Yicheng Xinneng will accelerate the strategic layout of emerging industries such as “new materials, new energy, energy conservation and environmental protection”.
From the perspective of the Group's head office, China Pingmei Shenma Energy Chemical Group Co., Ltd., the strategic change is also a must. Pingmei Shenma is a state-owned large-scale enterprise group led by energy and chemical industry. It owns three listed companies, namely Pingmei, Shenma and Xindaxin. However, in the first three quarters of this year, the performance of the three listed companies showed different degrees of decline. From the perspective of national policies and macroeconomic situation, the coal industry has entered a downward cycle, and the pressure on coal enterprises to survive is increasing. It is difficult to achieve the expected results by simply adjusting internal structure and reducing cost. It is necessary to focus more on expanding the coal industry. Chain and development of non-coal business, in order to find a longer-term way out. Pingmei Shenma will shift its development direction to new materials, new energy, energy conservation and environmental protection, which will help improve the profitability of the group.
Xinda New Materials, the benchmark enterprise of silicon carbide photovoltaic cutting material industry, we have witnessed its glorious history; now renamed Yicheng Xinneng, we also hope that it will continue to exert its strength in new materials, new energy, energy conservation and environmental protection. To achieve the second take-off of the enterprise. (grinding orange)

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