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LONDON, UK / ACCESSWIRE / November 9, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cleantech Solutions International, Inc. (NASDAQ: CLNT) ("Cleantech"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=CLNT. The Company announced on November 07, 2017, that its wholly-owned subsidiary, EC Power Technology Ltd ("EC Power"), has signed a memorandum of understanding (MOU) with the shareholders of Shenzhen Xinsheng NewEnergy ("NewEnergy") to acquire at least 51% the shares of NewEnergy. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Growth in Cleantech's New Business Line
Cleantech operates its business through its affiliated companies and subsidiaries. Its main business is to design, manufacture, and distribute a line of proprietary high and low-temperature dyeing and finishing machinery for the textile industry. However, its recent business initiatives have been focused on developing online platforms and rental business partnerships to drive the global development of sharing through economical rental business models.
Parkson Yip, Chief Operating Officer (COO) of Cleantech, expressed that the Company's new mobile phone power charger rental business is picking up rapidly. Therefore, the Company is moving ahead with its plans of aggressively expanding into other areas.
At present, around 20,000 portable power chargers are available for rent through Cleantech's convenience store networks in Hong Kong and Macau, and the demand is still further increased.
Thus, to keep up with the high demand, the Company intends to expand its footprint into other types of retail outlets such as restaurants, hotels, and shopping malls. In fact, it is already in discussion with potential partners to launch the service in new regions around the world.
NewEnergy Has Daily Production Capacity of 300,000 Units
NewEnergy was established in 2008, primarily in the business of designing and manufacturing lithium-ion aluminum case batteries. It produces batteries for mobile phones and other digital equipment using its advanced automated production equipment. In fact, the Company has invested around RMB30 million to set up its advanced automated production and quality control systems, and it also maintains an in-house laboratory for safety testing of the battery.
Its production factory covers over 10,000 square meters with over 300 employees and a daily production capacity of approximately 300,000 units. NewEnergy is ISO9001 certified and has UL, IEC62133, FCC, CE, ROHS certifications. Moreover, it owns 15 patents covering the technologies.
Strategic Rationale for Acquisition
The demand for on-the-go mobile phone charging is expected to remain strong, as worldwide mobile phone users are projected to increase from 4.8 billion in 2017 to over 5.0 billion in 2019.
With regard to the acquisition, Yip stated that NewEnergy's production capabilities, advanced technology, and quality control processes are quite impressive. These days, quality and safety is the most important concern for most mobile phone users. The acquisition of NewEnergy would help Cleantech have control over the actual production of chargers, which would eventually help the Company to confidently deliver products to the market.
Cleantech's Recent Activity in the Acquisition Space
This announcement marks Cleantech's third acquisition within a month.
On October 27, 2017, Cleantech declared that its wholly-owned subsidiary, EC Technology & Innovations Ltd, had entered into a sale and purchase agreement with the shareholders of Inspirit Studio, to acquire a 51% ownership of the latter. Inspirit Studio has developed a mobile application platform, which provides instant errand services in a peer-to-peer model. This move was intended to boost Cleantech's community sharing concepts.
Cleantech announced on October 12, 2017, that its wholly-owned subsidiary, Sharing Economy Investment Ltd ("SEI"), has signed an exclusivity agreement with 3D Discovery Co. Ltd ("3D Discovery") wherein SEI would acquire not less than 51% of 3D Discovery. 3D Discovery has developed an interactive virtual tour technology application that enables users to create interactive virtual spaces where people can get a first-hand experience of a physical place. This revolutionary technology can be extremely useful for various industries such as property management, hospitality, tourism, and event venues.
Last Close Stock Review
Cleantech Solutions Intl.'s share price finished yesterday's trading session at $3.72, falling 2.11%. A total volume of 151.96 thousand shares have exchanged hands. The Company's stock price soared 7.51% in the last three months and 36.76% in the previous twelve months. Additionally, the stock skyrocketed 40.91% since the start of the year. The stock currently has a market cap of $7.44 million.
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