Shanghai Xiba (603200.SH) plans to jointly establish a joint venture company with Yoyan Rare Earth to develop advanced materials for lithium-ion solid-state batteries.

Smart Finance App News, Shanghai Washing Empire (603200.SH) announced that the company plans to jointly establish a limited company with Yoyan Rare Earth New Materials Co., Ltd. (referred to as "Yoyan Rare Earth"). The registered capital of the newly established subsidiary is 200 million yuan, with the company contributing both monetary and non-monetary assets, with a total capital contribution of 165 million yuan, accounting for 82.5% of the registered capital, and Yoyan Rare Earth contributing 35 million yuan in monetary assets, accounting for 17.5% of the registered capital. The non-monetary assets are related to the lithium sulfide business acquired by the company through the Beijing Property Exchange, including technology, equipment, and other assets.