Snowsky Salt Industry Group Co LtdXuetian Salt's board approved acquiring 100% of Kuntian New Energy via share issuance and cash, a major asset restructuring that moves it into lithium-ion battery anode materials.

Xuetian Salt announced on September 11 that its board of directors has approved a plan to purchase assets through the issuance of shares and cash payment, along with a related-party transaction plan to raise supporting funds. Trading of its shares will resume on September 14. Under the plan, Xuetian Salt intends to acquire 100% of the shares of Hebei Kuntian New Energy Co., Ltd. from 54 counterparties including Song Zhitao and Liu Gejun through a combination of share issuance and cash payment. It will also issue shares to no more than 35 specific investors, including Hunan Salt Group Co., Ltd., to raise supporting funds. The transaction is expected to constitute a major asset restructuring and a related-party transaction, but not a reverse merger. Audit and valuation work has not yet been completed, and the valuation and pricing of the target company have not been determined. Kuntian New Energy was founded in May 2018 and is a leading enterprise in lithium-ion battery anode materials. It was previously included in the 2026 Hurun Global Unicorn List, and according to data from the UP2026 China Energy Unicorn Enterprises, its valuation is approximately 12.922 billion yuan. Unaudited financial data shows that in 2024, 2025, and the first half of 2026, Kuntian New Energy's operating revenues were 1.29 billion yuan, 1.997 billion yuan, and 1.412 billion yuan respectively, while net profits were negative 66.1727 million yuan, negative 32.5868 million yuan, and 120 million yuan respectively. In the first half of this year, Xuetian Salt achieved revenue of 2.658 billion yuan, down 2.89% year-on-year, with net profit attributable to the parent company of 79.1813 million yuan, down 9.23% year-on-year. The company stated that after the transaction is completed, it will enter the lithium battery anode sector and strengthen its second growth curve. Due to the planning of the aforementioned transaction, trading of Xuetian Salt shares was suspended from the market open on August 31. Before the suspension, the stock price was 6.04 yuan per share, with a total market value of 9.906 billion yuan.
Snowsky Salt Industry Group Co LtdXuetian Salt's board approved acquiring 100% of Kuntian New Energy via share issuance and cash, a major asset restructuring that moves it into lithium-ion battery anode materials.
Kuntian New Energy is the acquisition target, to be bought 100% by Xuetian Salt through share issuance and cash.
Hunan Salt Group is named only as an investor subscribing to the supporting fund-raising share issuance, not a subject of the deal.