Ganfeng Lithium (01772) announced that the company signed a “strategic cooperation agreement” with Guizhou Anda Technology Energy Co., Ltd. (hereinafter referred to as “Anda Technology”) in October 2023. Based on their respective industrial advantages, the two parties will jointly establish a joint venture to invest in the construction of a lithium iron phosphate cathode material manufacturing project with an annual output of 20,000 tons. The joint venture has a registered capital of 50 million yuan, the company holds 40% of the shares, and Anda Technology holds 60% of the shares. In the same month, the joint venture Inner Mongolia Autonomous Region Anda New Energy Technology Co., Ltd. (hereinafter referred to as “Inner Mongolia Anda”) completed industrial and commercial registration.
Recently, based on the development plan between the company and Anda Technology, and after friendly negotiations, the company signed an “Equity Transfer Agreement”. Anda Technology transferred 60% of its shares in Inner Mongolia Anda (unpaid investment) to the company at a price of 1 yuan. The corresponding registered capital of 60% of the shares is 30 million yuan. The company will later assume funding obligations. After the transfer is completed, the company will hold 100% of Inner Mongolia Anda's shares.