Jiangxi Lingneng Lithium Industry Co., Ltd. announced that entered into capital increase agreement for proceeds of CNY 600 million on September 26, 2022. The transaction will include participation from returning investor, Yichun You Lithium Technology Co., Ltd. for CNY 300 million of which CNY 240 million will go to registered capital and the remaining amount to capital reserve, and hold 50.2941% stake, and Ganfeng Lithium Co., Ltd. for CNY 300 million of which CNY 240 million will go to registered capital and the remaining amount to capital reserve, and hold 35.29% stake. After the completion of this capital increase, the registered capital of the company will increase from the CNY 200 million to CNY 680 million.

The company will issue common shares in the transaction. The transaction was approved in the 33rd session of the companyÆs 6th directorate and the 29th session of the companyÆs 6th supervisory board.