Gansu Hailiang New Energy Materials Co., Ltd announced a placement of common shares for gross proceeds of CNY 3,300,000,000 on November 24, 2023. The transaction will include participation from returning investor, Zhe Jiang Hai Liang Co., Ltd for CNY 1,100,00,000 changing its stake from 100% to 48.60%, new investors, Shenzhen Capital Group Manufacturing Transformation and Upgrading New Materials Fund (L.P.), a fund managed by, Shenzhen Capital Group Co., Ltd. and Shenzhen Capital Group Hongtu Private Equity Investment Fund Management (Shenzhen) Co., Ltd. for CNY 1,500,000,000 for 35.05% stake, Gongrong Financial Investment (Beijing) Emerging Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) for CNY 300,000,000 for 7% stake and Hailiang Group Co., Ltd. for CNY 400,000,000 for 9.35% stake. The transaction has been approved at the 10th session of Zhe Jiang Hai Liang Co., Ltd's 8th directorate.

Upon the closing, the company's registered capital will increase from CNY 980,000,000 to CNY 4,280,000,000.