Sichuan Yahua Industrial Group Co. (002497.SZ) on late Monday said Zhonghe (002070.SZ) planned to acquire the stocks Yahua holds in two lithium firms.
Yahua purchased a 37.25 percent stock in Sichuan Guoli Lithium Materials Company Limited in 2013, and a 100 percent stake in Blossom Lithium Industrial limited in 2014.
Yahua intends to sell the lithium assets probably because it has encountered difficulties in the operations of what it is not familiar to, China Securities Journal quoted an unidentified source as saying.
According to the fiscal report of Yahua, Sichuan Guoli Lithium incurred a net loss of 29.42 million yuan in 2014 and further lost 6.24 million yuan in the first half of 2015.
Blossom Lithium lost 6.04 million yuan in 2014 and 8.02 million yuan in the first half of 2015.
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