Yunnan Energy New Material (SHE:002812) subsidiary Jiangsu Energy New Material Technology will purchase the entire stake in SK IE Technology (KRX:361610) subsidiary SK IE Battery Materials Technology (Jiangsu) for 400 million yuan, according to a Thursday filing with the Shenzhen bourse.
The South Korean battery separator company will offload its loss-making assets in China due to weak market expansion and low utilization.
SK IE Battery Materials Technology (Jiangsu) has been posting losses in 2024 and 2025, Yicai Global reported separately.
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