Member Info for MegaTron1981

The company now
has a plan to relocate to another province in return for some sort of assistance from that provincial
government. It is unclear if this plan will come to fruition and if it did how this might benefit Origo. We
have recently retained counsel in Beijing to investigate this investment but given that it does not
appear to be a going concern we have valued it at nil....Convertible loans issued to China Rice of US$15,000,000 and Unipower of US$9,000,000 were fully
impaired in 2017."

2018

Searched panjiva for HENAN + HUANYU and got some surprising results

https://panjiva.com/Manufacturers-Of/Henan+huanyu#

"Ryder Electronics (HK)

Hong Kong, Hong Kong

2 shipments match Henan huanyu. [unclear which ones, but I'll mention the 3 shown for free without a panjiva account]

45 shipments total

...LTD BATTERY DG: 3496------264 BOXES /3554 KGS /10 CBM SHIPPER5:HENAN HUANYU POWER SOURCE COMPANY BATTERY DG: 3496------118BOXES /1570KGS /1.81 SHIPPER6:CHENZHOU"

[ Henan Huanyu Power Source Ltd via Ryder Electronics id shipping Lithium battery products to Huanyu New Energy Technology Co Ltd's old client, Tenergy. Interesting. ]

2018-02-09
RYDER ELECTRONICS (HK)

TENERGY CORPORATION 436 KATO

- ECMU1921265 DESCRIPTION- DIGITAL THERMOMETER 9546 CHARGER WITHOUT BATTERY 8412 9524 LI BATTERY+CHARGER 9463 9457 8788 8978 (DG CARGO: 131CTNS/ 879. 2KGS/ 4. 7CBM) THIS MASTER BILL COVERS CMA-CGM NVOCC HOUSE B NO. ATTN: LYNNE PSN: LITHIUM ION BATTERIES UN NUMBER: 3480 - IMDG CLASS: 9 -GENERIC DESCRIPTION- - TTNU3579682 DESCRIPTION- NIMH BATTERY 9497 9354 9462 (DG CARGO: 554CTNS/4460KGS/ 11. 2C...

2018-04-27
RYDER ELECTRONICS (HK)

TENERGY CORPORATION 436 KATO

CLHU4662558 DESCRIPTION- LI BATTERY 9463 9663 9669 8980 8984 9300 LITHIUM MANGANESE DIOXIDE BATTERY : 9455 PART: 30214 30404 30406 30407 BATTERY CHARGER PO9563 9723 9693 PRODUCT PACKAGING BOX (DG CARGO: 424CTNS/3263. 7KGS/15. 6CBM) THIS MASTER BILL COVERS CMA-CGM NVOCC HOUSE B NO. ATTN: LYNNE PSN: LITHIUM ION BATTERIES UN NUMBER: 3480 - IMDG CLASS: 9 -GENERIC DESCRIPTION-

2018-07-19
RYDER ELECTRONICS (HK)

TENERGY CORPORATION 436 KATO

- CMAU2179625 DESCRIPTION- NI-MH BATTERY NO.: 9954 9936 9763 9897 NIMH BATTERY 9558PO 9762 BATTERY CHARGER PO9369 9471 BLACK LED TABLE LAMP P/O NO. 9942 P/N NO. 59114 (DG CARGO: 212CTNS/2118. 7KGS/4. 1CBM) THIS MASTER BILL COVERS CMA-CGM NVOCC HOUSE B NO. ATTN: LYNNE PSN: BATTERIES, NICKEL-METAL HYDRIDE UN NUMBER: 3496 - IMDG CLASS: 9 PSN: BATTERIES, NICKEL-METAL HYDRIDE UN NUMBER: 3496 - IMDG ...

Unipower is currently in discussion with a number of parties, both banks and equity investors, to secure additional capital. While the immediate focus is on financing the company so
it can return to growth, we believe there are reasonable prospects for a bundled transaction which would allow a partial sale and/or refinancing of Origo’s convertible loans to the business."

States that original investment was
US$13,710,000, however 2014 Annual Report states US$4,301,000
This is because 13,710,000 = 4,300,000 original investment, 9,000,000 loan and 409,000 loan

2016 Annual Report

"Unipower
Unipower Battery Ltd ("Unipower") developed two new significant customer relationships which resulted in framework-agreements for the purchase of up to 130
million Ah per annum of batteries during the year. This significantly boosted Unipower's sales in 2H of 2016.
Unipower is now one of few licensed, private suppliers with a certified and proven product portfolio and has 1,000 buses and 2,500 other vehicles equipped with its
llbatteries running on China's roads...

As of December 2015
US$9,000,000 Loan (Convertible Credit Agreement) to Unipower at 6%

As of December 2016
US$9,000,000 Loan (Convertible Credit Agreement) to Unipower at 6%

Convertible loans issued to China Rice Ltd and Unipower Battery Ltd are structured as “bundled investments”, i.e. they have been extended along-side of equity investments. Substantial repayments of loans outstanding are expected to negatively affect the Company’s ability to realise the full value of its combined investment in relevant companies. Consequently, except smaller amounts, the bulk of convertible loan investments are expected to be realised (whether through repayment in cash or conversion into and subsequent sale of equity) with the disposal of the relevant portfolio company as a whole, or through divestments of the Company’s equity positions. The
Company has a reasonable expectation to be in a position to realise the full value of these loans over next 12 months; however, substantial balances may remain outstanding beyond such period."

Huanyu New Energy Technology named as interested party in EU 'Anti-Subsidy Complaint under Article 10 of Regulation 2016/1037
concerning electric bicycles from China'

https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://trade.ec.europa.eu/tdi/notices.cfm%3Fsyear%3D2018%26publication%3D2344%26action%3Dreadfile&ved=2ahUKEwiwodrz1ZXdAhVQW8AKHcfmDLU4FBAWMAh6BAgGEAE&usg=AOvVaw1XxYK1gVlCqz4zR4ifDgaE

2017 Annual Report

"Unipower is or was a battery manufacturer for electric vehicles. The company does not appear to
be operational, has several judgments against it and seems to have legal problems. The company
shares office space with OAL in Beijing. Like China Rice, we are unclear about the circumstances
surrounding the original investment and why the company has fared so poorly. The company now
has a plan to relocate to another province in

https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://www.assaif.org/index.php/content/download/35992/194523/version/1/file/agenda%2Bwith%2Bspeaker-1.pdf&ved=2ahUKEwj-yceE3JXdAhUFOsAKHSqJBc04HhAWMAd6BAgCEAE&usg=AOvVaw1HxY0cUniqFGwNN4p2u9Yu

2014 February - Shipment to Flux
2014-02-16
HENAN HUANYU NEW ENERGY
FLUX POWER INC.
LITHIIUM BATTERY 1 PACKAGE 25 CARTONS HS CODE 

2014 March Annual Report

"In March 2014, the Company extended a short term working capital loan of RMB4,000,000 [approx USD$409 ,000 at 12% interest according to 2015 Accounts] to Unipower Battery Ltd.

States...
As of December 2013
US$9,000,000 Loan (Convertible Credit Agreement) to Unipower at 6%
As of December 2014
US$9,000,000 Loan (Convertible Credit Agreement) to Unipower at 6%

2014 April Shipment to Flux

2014-04-17
HENAN HUANYU NEW ENERGY
FLUX POWER INC.
LITHIIUM BATTERY 58 PKGS 2 PALLETS.

2014 December

Name* Unipower Battery Ltd
Country of incorporation Cayman Islands
Fair
Value hierarchy level 3
Proportion of ownership
interest 16.5%
Cost
US$4,301,000
Fair value
US$12,053,000

2015 (2) February Shipments to Tenergy
2015-02-23
HENAN HUANYU NEW ENERGY TECHNOLOGY
TENERGY CORP
XINU1455129 DESCRIPTION BATTERY DG: 3480 76 BOXES /1335. 37 KGS /2.

2015-02-24
HENAN HUANYU NEW ENERGY TECHNOLOGY
TENERGY CORP
XINU1455129 DESCRIPTION BATTERY DG: 3480 76 BOXES /1335

2015 March Shipment to Tenergy
2015-03-15
HENAN HUANYU NEW ENERGY
TENERGY CORP
TRLU9689840 DESCRIPTION : 4405 NI MH BATTERY RECHARGEABLE 

2015 September Shipment to Tenergy
2015-09-10
HENAN HUANYU NEW ENERGY TECHNOLOGY
TENERGY CORP
- CMAU6004224 DESCRIPTION- NI-MH BATTERY (DRY 

2015

"Unipower
- The performance of Unipower Battery Ltd. (“Unipower”)
during 2015 was negatively impacted by previously announced issues. On the one hand, China’s EV market, and those of related systems and components, including batteries, experienced solid growth. However, Unipower was unable to take advantage of this positive environment due to a dispute over a cross-guarantee issued to a local
bank. While the dispute was ongoing, Unipower was unable to renew its credit facilities. Without sufficient funding, production and sales fell below the break-even point. As a result, Origo’s equity position in the business
was written down by 52 per cent. The dispute was finally resolved in April 2016, paving the way for the Company to resume normal operation. Provided sufficient capital in the short-term, we believe that Unipower will be well positioned for a trade sale,
specifically since the universe of potential suitors is both broad and deep. Unipower produces large polymer batteries used primarily in EVs which could make it an
attractive target for players from a wide range of sectors, including automotive, utilities and industrial.
Based on our introductions and assistance, Unipower is currently in discussion with a number of parties, both banks and eq

Accruing a rolled-up interest of 6 per cent per annum, the notes are convertible into equity, in part or in full, under various scenarios, including at a 20 percent discount to the price of next equity-financing round. Origo intends to subscribe for around US$7.5 million of the offering on its own account and assign the balance (US$7.5 million) to a separate clean tech fund that Origo is in the process of forming."

2012 October - Contract win and change of name?!

prnewswire.com/news-releases/flux-power-engages-with-huanyu-new-energy-to-supply-advanced-lithium-storage-solutions-world-wide-173585031.html

Looks like they renamed the company from Unipower Battery Ltd to Huanyu New Energy Technology Co. Ltd. which makes sense as a) there are lots of 'Unipowers' out there who do niche batteries and this name leverages the Huanyu brand, which is well established (they supply Black&Decker, Bosche etc).

"Headquartered in Beijing, China, Huanyu New Energy is a joint venture by Henan Huanyu Group and Origo Partners PLC"

Here's a write up of Huanyu New Energy Technology

energy-xprt.com/companies/huanyu-new-energy-technology-co-ltd-47427

"... By inheriting Huanyu Group’s 30 year patent technology and experience in rechargeable battery and battery material manufacturing, Huanyu New Energy has developed soft-packaging, electrolyte-starved, large capacity Lithium-ion rechargeable batteries. Huanyu rechargeable batteries are known for the uniformity of the cells, longer cycle life, and enhanced safety. In addition, they could be installed at any direction, which helps improve the utilization of system space. These characteristics have made Huanyu batteries the preferred power sources for electric vehicles and energy storage systems. To meet the demands of domestic and foreign clients for quality green batteries, Huanyu New Energy has developed 7 series of large capacity lithium-ion rechargeable batteries for such applications: pure electric-buses, electric passenger vehicles, electric bikes, electric motorcycles, special utility electric vehicles, energy storage systems for wind and solar power, back-up power for communication system, and mining equipments. Moreover, Huanyu New Energy is capable to offer one-stop power supply services, which includes project consultation, system design, and technical support.

The mission for Huanyu New Energy is to make “GREEN ENERGY SHARED BY ALL PEOPLE”. We challenge ourselves to build a first-class enterprise, to produce first-class products, and to provide first-class services.

20/F,North Tower,SOHO Shangdu,No.8 Dongdaqiao road, , Chaoyang District , China"

2013 Zhongdong Li, President of Huanyu New Energy Technology Co., LTD. Takes part in round table discussion at China-Arab States Energy Cooperation Forum

https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://www.assaif.org/index.php/content/download/35992/194523/version/1/file/agenda%2Bwith%2Bspeaker-1.pdf&ved=2ahUKEwj-yceE3JXdAhU

OPP Unipower Battery Ltd timeline

2010 August

Origo buys 16.5% (USD$4.3m) stake in Unipower Battery Ltd
privateequitywire.co.uk/2010/08/31/59737/origo-acquires-stake-unipower-battery
"The company is in the process of being spun out from the Huanyu Group, one of the largest privately held rechargeable battery manufacturers in China. ... Under the terms of the transaction, Huanyu will transfer its lithium-ion business and related assets (comprising IP, sales and purchase contracts, production lines, R&D facilities and related equipment) to Unipower... At the same time, China Equity International Holdings [CEIH is PE company founded by Wang Chaoyong, Origo Director/Main man crunchbase.com/person/chaoyong-wang#section-recent-news-and-activity] and other private investors are investing a further USD1.7m, bringing the total amount of capital raised in this financing round to USD6m."

Some patent I found...
https://patents.google.com/patent/CN1734825A/zh-TW
https://patents.google.com/patent/CN1734825A/de
https://patents.google.com/patent/CN1435903A/ja
patents.google.com/patent/CN1903707A
https://patents.google.com/patent/CN1903707A/zh

2011 March

Origo makes follow-on investment of up to US$15 million in Unipower Battery Ltd ("Unipower" or the "Company") as part of a US$22 million convertible note offering by the Company... Unipower has performed strongly since Origo's initial equity investment of US$4.3 million in August 2010, with both installed capacity and the revenue run-rate of the business having more than doubled in the last six months... Unipower presently focuses on the public bus sector in China, however the Company's current capacity is not sufficient to meet this year's indicative demand from their largest customer, let alone demand from other existing and prospective customers. Unipower estimates that less than 500 pure electric buses and 1,500 hybrid buses were produced in China in 2010, compared to the Chinese Government's target of introducing no less than 20,000 such buses onto Chinese roads by the end of 2012.  In response, the Company is planning an extensive expansion of capacity during the course of 2011. With the proceeds of the current offering, Unipower is expected to double current production capacity to 365,000 kWh per annum by August 2011. By the end of 2011, the Company intends to further increase capacity to approximately 550,000 kWh per annum (equivalent to approximately 2,500 pure electric buses). At that point, Unipower expects to be among China's largest providers of lithium-ion batteries for the domestic EV market... Origo was joined in the offering by affiliates of Huanyu Group, which invested US$4 million, funds managed by China Equity International Holdings Ltd ("China Equity") and other existing shareholders who committed a further US$3,000,000. Under the terms of the transaction, the proceeds of the offering will be disbursed over 10 weeks. Accruing a rolled-up interest of 6 per cent per annum

Re MIRA thoughts on whether he might try to take it private?

MIRA RNS out. Mr Tinajero now has 60%. Looks positive. What's his next move?

Started. China Rice is a right off imho. Unipower is interesting. A collaboration between Origo and Huanyu, a well established battery maker. Will write up findings this evening. Off to the beach now!

The thing about the realisation of assets is that there is a queue in terms of who gets what. Us Ordinary Shareholders are in line for less initially. I don't fully understand it, but this revised proposal (accepted by all parties including Brookes) lays out how monies will be returned RNS from 19 August 2016

"The removal of the requirement for the Company to redeem US$12 million CZDPs and the removal of any final CZDP redemption date.

·    The accreted principal amount per CZDP be reset to US$1.0526.  No rate of return on the CZDPs will begin to accrete until 1 January 2018.  In respect of each CZDP still in issue on 1 January 2018, its principal amount of US$1.0526 shall be subject to the accretion of a rate of return equal to 4% per annum from 1 January 2018 to the date on which such CZDP is redeemed.  Such return will accrue on a simple and not compound basis.

·    Origo's ordinary shareholders ("Ordinary Shareholders") to receive a proportion of all future distributions alongside CZDP Shareholders, as follows:

-      in respect of the first US$15 million of distributions, 80% to CZDP Shareholders and 20% to Ordinary Shareholders;

-      in respect of distributions in excess of US$15 million:

o   until such time as all CZDPs have been redeemed in full, 44% to CZDP Shareholders and 56% to Ordinary Shareholders; and

o   thereafter, 100% to Ordinary Shareholders." The recent impairments to MOLY WORLD and CHINA RICE will have taken bites out of the pie. I haven't worked out what's left and what the value is... But it does still look attractive r2r at that price and those impairments may have legal routes to recover funds. My Next task is to look over their old asset lists and figure out what's left! I noticed any disposals so far had been relatively small and each time the amount recovered was to go into OPP's working capital i.e. Nothing for Shareholders yet... Could that be a clever ploy not to realise any value to shareholders via traditional approach? If all recovered monies went on cost of recovery which somehow indirectly went to mainshareholders?

Hi Cam, been skimming through OPP RNSs since 2011. What a balls up! BOD now exclusively made up of shareholder appointments, debt free and remuneration structure changed so now rewarding and them for asset sales. Re 13:35 and 14:02 comments. I am a bit confused. You worked out the 3.5% value of Heng Yu as £8.5m but in RNS of 23/4/18 it suggests the 3.5% was worth USD$2.4m. Also it states Origo now holds an indirect interest in 3.7% of Heng Yu, not 7.2% "Origo is also pleased to announce that it has also completed the sale of a 3.5% beneficial interest in Jinan Heng Yu Environmental Protection Technology Co., Ltd. ("Heng Yu"), the operating company of Niutech Energy Ltd., to Chinese institutional and other investors, for net cash proceeds of US$2.4 million. The sale price implies a valuation of Origo's interest in Niutech in line with its carrying value as at 30 June 2017. The cash receipts from the Heng Yu disposal will be applied towards Origo's working capital requirements. Origo continues to hold a 3.7 % indirect interest in Heng Yu.

John Chapman, Chairman of Origo commented:

The repayment of the US$2.5 million loan on very advantageous terms to the Company is a major step forward in the Board's efforts to repair the Company's balance sheet so capital can be returned to shareholders. The Company is now debt free and, with the sale of the 3.5% beneficial interest in Heng Yu, has sufficient capital to meet its running costs for the foreseeable future. The Company expects that further asset sales will enable the Company to begin returning capital to shareholders" Am I missing something?

Definitely both in my case. Have a good one. We're off to Devon for the week - can't beat the English Riviera in the sunshine ( well not in UK anyway!)

I did see those buys. They were big, confident and purposeful amidst a trickle of blah. Combined with your sppidey senses, I have taken a small position at .34 which is better than the .45 I was quoted yest! Seems like an interesting OPP....{TUMBLEWEED}... well someone had to.

Yeh but just a bit of fun amongst us and it's not like it really matters. We've no reason to doubt your word.

Good to hear! So, a new 1000% challenge to give you something to aim for?

Yes, I think (hope) so. Especially with the CEO taking 3.7% in open market. NCCL is the one I've gone heavy on, so I'm hoping for good news there following the workshop with Moz Dept. For Energy. I saw you mention MIRA the other day. It was a share I watched for a while 18m back. Had lost track of it and having got up to speed have taken a small position. Looks like good r2r.

I'll put a limit order buy on it for .25 and see what happens. Maybe a double bottom will be forthcoming. In my experience, there is 'usually' a retrace after that kind of increase, but don't go chasing it. Read through last night and it has fallen such a long way in recent years.

.45 to but now Cam Vs your .25 entry. Worth it?

TYM for a re-entry?

Thanks three-putt I guess a lot of those stocks were chosen based on their turn around credentials so long-term dogs yes but signs of green shoots perhaps. I'm interested in ppls views on turnaround credentials... e.g. STAR financials expected to turn positive in near future we there's the unannounced deal with Bosche etc...

For any TYM holders I recommend contacting the company regarding the wording of the recent rns specifically the term 'protected' which for me was not as clear as it could have been. Interesting reply. info@tertiaryminerals.com to save Judith time you should copy my question "So I am able to make an informed decision about my investment, can you explain what 'protected' means in this context?

'the CAB has expressed the view that the proposed TSF location should be protected to secure reindeer husbandry'.

Does this refer to a biotope protection area? Is it an extension of Natura 2000? Or does the term carry less legal weight e.g. put up a fence? Put an airtight cover over it?

This isn't clear and is important. Thanks and kind regards..."

How can you censor the word Sl uut?