YOUNGY Co., Ltd. (002192.SZ) plans to invest 100 million yuan to establish a subsidiary engaged in the business related to lithium-ion battery negative electrode materials.

YOUNGY Co., Ltd. (002192.SZ) has announced that, in accordance with strategic planning and business development needs, the company plans to invest 100 million yuan to establish a wholly-owned subsidiary named Lanzhou Rongjie Materials Technology Co., Ltd. (name subject to final approval by the industrial and commercial administrative authorities), to engage in business related to lithium-ion battery negative electrode materials. The establishment of this wholly-owned subsidiary aims to leverage the company's resource industry base, assist the company in advancing the deepening development of the lithium industry chain, improve the company's planning for the upstream and downstream of the lithium battery materials industry chain, and continuously build a chain-based new energy industry pattern. Additionally, this move will help to enhance the company's economic efficiency and overall competitiveness.