Ganfeng Lithium Group (01772): Ganwang Digital Industry Fund increases capital by 500 million yuan to Ganfeng Lithium Power in Nanchang and acquires 83.33% of its shares.

Ganfeng Lithium Group (01772) announced that at the 85th meeting of the fifth board of directors held on October 30, 2024, and at the 2024 third extraordinary general meeting held on November 25, 2024, the proposal on the increase in capital and expansion of shares of the holding subsidiary Nanchang Ganfeng Lithium Battery involving the introduction of an industrial fund with guarantees was approved. The company's holding subsidiary Jiangxi Ganfeng Lithium Technology Co., Ltd. (referred to as "Ganfeng Lithium")'s wholly-owned subsidiary Nanchang Ganfeng Lithium Technology Co., Ltd. (referred to as "Nanchang Ganfeng Lithium" or "target company") plans to introduce an industrial fund established by Nanchang New Construction District Platform Company to increase capital by 500 million RMB in cash for the construction of Nanchang Ganfeng Lithium new energy project in the new construction district. Before the implementation of this capital increase and share expansion, Ganfeng Lithium holds 100% equity in Nanchang Ganfeng Lithium. After the implementation of this capital increase and share expansion, Ganfeng Lithium will hold 16.67% equity in Nanchang Ganfeng Lithium. In the event of fulfillment of the repurchase clause, Ganfeng Lithium will repurchase the shares held by the industrial fund in Nanchang Ganfeng Lithium, and the company will provide guarantees for this repurchase, while Ganfeng Lithium will provide counter-guarantees to the company. Recently, the industrial fund has completed the registration with the market supervision and administration department, under the registered name of Nanchang New Construction Development Zone Ganwang Wisdom New Energy Equity Investment Fund (Limited Partnership) (referred to as "Ganwang Wisdom Industrial Fund"). Ganwang Wisdom Industrial Fund, the investment entity, has invested 500 million RMB in Nanchang Ganfeng Lithium, acquiring 83.33% equity. In the event of fulfilling the repurchase conditions, Ganfeng Lithium will repurchase the shares of this capital increase, and the company will provide joint liability guarantees for the repurchase obligation of Ganfeng Lithium, while Ganfeng Lithium will provide counter-guarantees to the company.