According to Zhitong Finance APP, Guangzhou Tinci Materials Technology (002709.SZ) announced that the company and its subsidiary, Delaware Tinci, have signed two Equity Purchase Agreements with Honeywell International Inc. (abbreviated as "Honeywell") and its subsidiary Advanced Energy Materials LLC (abbreviated as "AEM"). The two parties intend to establish a joint venture company through Equity Transfer and subscription, with the joint venture aimed at the production, operation, and sales of liquid lithium hexafluorophosphate, Electrolyte, and other products.

According to the agreement, Delaware Tinci will transfer 49% of the equity of its wholly-owned subsidiary Texas Tinci to Honeywell, with the estimated transfer consideration being $16.66 million, subject to adjustments based on the pre-closing statements (if any). After the Equity Transfer, Delaware Tinci will hold 51% of the shares, while Honeywell will hold 49%. Texas Tinci plans to construct a project for an annual production of 200,000 tons of Electrolyte. AEM, a wholly-owned subsidiary of Honeywell, is the other entity under this transaction's joint venture, and its main future business will involve the production, operation, and sales of raw materials for Batteries, such as liquid lithium hexafluorophosphate. Delaware Tinci and Honeywell have reached a consensus; upon meeting the approval and other closing conditions related to this cooperation, Delaware Tinci will subscribe for additional shares issued by AEM, with the transaction price to be separately negotiated based on AEM's initial investment situation. After the subscription, Honeywell will hold 51%, while Delaware Tinci will hold 49%. AEM will build a project for an annual production of 100,000 tons of liquid lithium hexafluorophosphate, with a total investment amount estimated at $0.4 billion.

Honeywell, the partner in this cooperation, is one of the world's leading diversified technology and manufacturing companies, with core businesses covering automation, Aviation, as well as Energy and sustainable development, possessing very strong chemical technology capabilities and operational capabilities for fluorine-containing materials. This external investment aims to jointly invest with Honeywell to establish a joint venture company, which is beneficial for both parties to fully integrate SSE Select Resources Industries Index, achieve complementary advantages, and share resources.