Xiangtan Electrochemical: Controlling shareholder and indirectly controlling shareholder reduce their holdings of "electrochemical convertible bonds"

Xiangtan Electrochemical announced that the company will issue 4.87 million convertible corporate bonds to unspecified parties in 2025, raising a total of 487 million yuan for the "annual production of 30,000 tons of spinel-type lithium manganese oxide battery materials project" and "supplementary working capital". Controlling shareholder Electrochemical Group and indirect controlling shareholder Zhenshang Guotou had previously subscribed to 1,438,339 and 617,993 "Electrochemical Convertible Bonds", accounting for 29.53% and 12.69% respectively. During the period of 2026, Electrochemical Group reduced its holdings by 208,339, accounting for 4.28%; Zhenshang Guotou reduced its holdings by 617,993, accounting for 12.69%. After the reduction, neither party holds any "Electrochemical Convertible Bonds". This reduction will not have any adverse effects on the company's debt repayment and operations.