LAS VEGAS, Sept. 19, 2022 /PRNewswire/ -- Ionix Technology, Inc. ( ticker symbol: IINX, hereinafter referred to as IINX or the Company) announces on its website that the management from IINX and from Legend Ecological Aquaculture (Changhai) Co. Ltd (hereafter referred to as Legend) reached and signed an agreement, on August 29, 2022, on the acquisition of 51% equity of the latter, and that the implement of agreement and acquisition process would come in the next step.
Legend engages in ecological farming, focusing on aquaculture technology and environmental protection, with an annual turnover of about US $18 million. "After several months of investigation and negotiation, we can conclude that Legend's products, technologies and services have gained wide recognition and shares in the market. With high technological content and forward-looking insight, Legend is bound to grow geometrically in the very near future and to become IINX's new profit growth point from its formed scale economic effect, which suits the Company's purpose on rapid development. Legend's carbon neutralization concept is up to IINX's idea of developing towards energy conservation, environmental protection and clean energy. The cooperation will certainly become a highlight in the future development, leading to a brilliant prospect for both parties ." said Li Cheng, CEO of IINX, at the signing ceremony.
Ocean carbon neutrality, put forward and applied by Legend, aims to purify the marine farming environment and to improve the aquaculture efficiency through algae farming, shellfish farming and artificial reefs, to conserve and restore blue carbon ecosystems in coastal zone, furthermore, to mitigate the impact on ecosystem from climate change. Carbon sink fishery, developed based on the concept of ocean carbon neutrality, helps attain the three-dimension development of marine space resources, as well as realizes the coordinated growth of economic benefits, social benefits and environmental benefits.
In recent years, the oil and natural gas-oriented energy products have fluctuated sharply in price, which brings pressure on the development of enterprises on many aspects, but pushes the new energy develop and gives the infinite growth space to the new energy at the same time. IINX launches the project on the new energy products under this circumstance. Among the Company's two major business sectors, the new energy sector includes the business in the lithium battery materials, the lithium compounds and the derivatives. Lithium-ion products, the key material for power batteries, have seen a more than tenfold increase both in volume and price over the past year since from the early 2021, as such, IINX has gained a greater portion in new energy market and the Company's performance has been greatly improved. Now, the cooperation between IINX and Legend has blazed another new path in the high-tech business sector, which securely leads the Company on track for a historic breakthrough in 2023.
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