Jiangxi Feng Jin Lithium Co., Ltd. announced that it has signed an agreement to issue common shares for gross proceeds of CNY 26,030,000 on February 24, 2023. The transaction will include participation from new investor, YanTai Yuancheng Gold Co., Ltd for 51% stake in the company. The transaction has been approved at the 18th meeting of the company's 13th directorate. The transaction is still subject to the approval of shareholders. After the completion of the transaction, the company's registered capital will increase from CNY 25,000,000 to CNY 51,030,000.

On March 13, 2023, the company announced that the transaction has been approved at the First Extraordinary General Meeting of Shareholders in 2023 of the investor.