On the evening of October 21, Shanshan announced that it plans to raise no more than Yuan 4.0 billion through a private placement, which will be fully subscribed in cash by its indirect controlling shareholder, Anhui Conch Group. Of the proceeds, Yuan 2.5 billion will be used for an integrated base project with an annual production capacity of 150,000 tonnes of lithium-ion battery anode materials, and Yuan 1.5 billion will be used to replenish working capital. The project is scheduled to break ground in March 2027 and is aimed at alleviating the Company's capacity shortage.
Edited by Cassie Li, lixiangying@mysteel.com
