On August 29th, 2024, New Concepts Holdings (02221.HK) announced that on August 29th, 2024, the buyer, Shenzhen Huamingsheng Technology Co., Ltd. (an indirect non-wholly-owned subsidiary of the company), the seller, Shanghai Barkus Superconducting New Materials Co., Ltd., and the target company have entered into a purchase agreement. According to the purchase agreement, the seller has agreed to sell its entire 30% equity interest in Zaozhuang Gaoneng New Materials Co., Ltd., a subsidiary of the target company, to the buyer.

The target company is a limited company established in January 2024 in Zaozhuang City, Shandong Province, China. It is mainly engaged in the production of graphite-related anode materials, carbon, and alloy materials for new energy materials. As of the date of this announcement, the target company has not yet started any construction or business operations.

With the promotion of the 'Dual Carbon' initiative by the government and the new applications of new energy and related materials and electricity storage, the group established the buyer in 2022 to further expand its eco-friendly business portfolio to graphite technology and modified graphite anode materials (i.e., eco-friendly new energy material applications). Currently, the group's footprint in the anode material business is mainly concentrated in the southern region (through the buyer) and the northern region (through Han Tang Mingsheng). In order to achieve a nationwide regional layout and expand into the eastern region and even radiate the northern region market, a purchase agreement is entered into to explore more business opportunities.