According to EnergyTrend, on September 24, Eve Energy announced that it plans to transfer its 45% equity stake in SEMCORP Hubei to SEMCORP Shanghai for RMB 1.15 billion.
It is worth noting that the transferee in this transaction is SEMCORP Shanghai, rather than its parent company Semcorp Group. According to public records, Semcorp Group is the parent of SEMCORP Shanghai, while SEMCORP Hubei is a joint venture previously established by SEMCORP Shanghai and Eve Energy. Upon completion of the transaction, SEMCORP Shanghai will hold 100% equity of SEMCORP Hubei, and Eve Energy will exit the joint venture entity.
As stated in the announcement, this transaction does not constitute a related party transaction nor a major asset reorganization. It only requires review and approval by the board of directors of Eve Energy and does not need to be submitted to the general meeting of shareholders. The transaction consideration will be paid in installments, and the closing date shall be subject to the completion of industrial and commercial change registration for the equity transfer of SEMCORP Hubei.
The equity transfer price is determined through negotiation among all transaction parties, with reference to the appraisal report issued by a qualified asset appraisal institution.
SEMCORP Hubei was founded on December 29, 2021, with a registered capital of RMB 1.6 billion and is registered in Jingmen, Hubei Province. The company was jointly invested by SEMCORP Shanghai and Eve Energy at inception, with plans to build 16 production lines for lithium ion battery separators. Prior to this transaction,SEMCORP Shanghai held a 55% stake in SEMCORP Hubei and Eve Energy held the remaining 45%.
In terms of operating performance, SEMCORP Hubei generated operating revenue of RMB 1.04 billion and a net profit of RMB 226 million in the first half of 2026, compared with a net loss of RMB 4.7698 million for full year 2025. The figures show that SEMCORP Hubei turned profitable in the first half of this year.
As of June 30, 2026, SEMCORP Hubei had total assets of approximately RMB 4.755 billion. Regarding the divestment, Eve Energy stated that the move is mainly intended to optimize its asset structure, concentrate resources on core businesses, recover investment capital and realize partial investment gains.
Eve Energy also pointed out that the transaction will not change the scope of its consolidated financial statements and will not exert any material adverse impact on its financial position. The deal mainly involves an adjustment to SEMCORP Hubei’s equity structure. The announcement did not disclose whether procurement and other cooperation arrangements for separator products between the two sides will be altered after closing.
Following completion of the transaction, SEMCORP Hubei will terminate its joint venture relationship with Eve Energy and become a wholly owned subsidiary of SEMCORP Shanghai.
Source：EnergyTrend