Jiangsu Ruitai New Energy Materials (301238.SZ) plans to increase capital in Tai Ri Lianteng, a subsidiary of Tonze New Energy Technology, to promote the second phase of the 15,000-ton lithium hexafluorophosphate project.

Jiangsu Ruitai New Energy Materials (301238.SZ) announced that the company plans to increase its capital by 200 million yuan to Jiangsu Tairui Lianteng Materials Technology Co., Ltd. (referred to as "Tairui Lianteng") through its wholly-owned subsidiary Jiangsu Xintai Material Technology Co., Ltd. (referred to as "Xintai Material") which is an affiliate of Tonze New Energy Technology, using monetary funds. The additional registered capital in this round of funding is calculated based on 1 yuan per share. Xintai Material will contribute 150 million yuan, while the company will contribute 50 million yuan. According to the announcement, the main purpose of this capital increase is to advance and complete the construction of the 15,000-ton lithium hexafluorophosphate project in the second phase of Tairui Lianteng.