Baiyu Holdings Unit to Acquire Jintongyuan Energy Storage Technology for $105.3 Million in Cash

08:39 AM EDT, 08/27/2024 (MT Newswires) -- Baiyu Holdings (BYU) said Tuesday that its Shenzhen Baiyu Jucheng Data Technology unit has agreed to acquire Shenzhen Jintongyuan Energy Storage Technology for 750 million Chinese renminbi ($105.3 million) in cash, paid in installments.

The deal is slated to be completed next month.

Jintongyuan is focused on the research and development, design, operation of energy storage batteries for North America.

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