On March 18, Fulin Precision announced that its subsidiary, Jiangxi Shenghua New Materials Co., Ltd., has signed a Capital Increase Agreement with Beijing QianYuan HuiZhi New Energy Technology Co., Ltd., Shanghai Jiebao Investment Management Co., Ltd., and the target company, Inner Mongolia Fulin Times New Materials Co., Ltd. The agreement proposes a capital increase of Yuan 1.004 billion in the target company to advance the construction of a project with an annual production capacity of 500,000 tonnes of high-end lithium iron phosphate for energy storage applications.
Prior to this capital increase, the target company's registered capital was Yuan 1 million, wholly owned by Jiangxi Shenghua. Upon completion of the capital increase, the target company's registered capital will change to Yuan 1.005 billion, with shareholding ratios of 77.6119% for Jiangxi Shenghua, 14.9254% for QianYuan HuiZhi, and 7.4627% for Jiebao Investment.
Edited by Cassie Li, lixiangying@mysteel.com
