EVE Energy (SHE:300014) will transfer its 45% stake in Hubei Enjie New Material Technology to Shanghai Enjie New Material Technology for 1.15 billion yuan, according to a Friday disclosure on the Shenzhen bourse.

With the transaction, the lithium-ion battery manufacturer will no longer hold any equity interest in Hubei Enjie New Material Technology while Shanghai Enjie New Material Technology will hold a whole stake.

Shares of EVE Energy fell more than 2% in recent trade.