Tianqi Lithium (09696) plans to strategically invest 150 million yuan to subscribe for additional shares in Sunwoda Power

Zhitong Finance App News, Tianqi Lithium (09696) announced that according to the company's strategic development needs, the company's wholly-owned subsidiary Tianqi Lithium (Shehong) Co., Ltd. (Shehong Tianqi) plans to sign the “Sunwoda Power Technology Co., Ltd.” with Sunwoda Power Technology Co., Ltd. (Sunwoda Power or target company), Sunwoda Huizhou Renewable Energy Co., Ltd. (the largest shareholder of the target company), Wang Mingwang, and Wang Wei (collectively known as the “actual controller of Sunwoda Power”) to sign a capital increase agreement of RMB 150 million Funds to subscribe for additional shares in Sunwoda Dynamics 792.181.06 million shares. Sunshine Power Co., Ltd., the other capital increase party participating in the target company's capital increase, plans to subscribe for 34,591.9064 million additional shares of Sunwoda Power.

According to reports, Sunwoda Power is a world-leading comprehensive new energy technology enterprise integrating production, marketing and research of batteries, modules, power management systems (BMS), and battery packs (PACK). It is committed to providing scenario-based power batteries and energy storage solutions.

According to the announcement, the transaction is in line with the company's vertical integration development strategy and the upstream and downstream linkage development trend of the industrial chain. Furthermore, this transaction will deepen cooperation between the company and the downstream industrial chain, expand new reach and channels for the company to develop its business, and help the company explore opportunities for circular development of the industrial chain while implementing a vertically integrated development strategy. In terms of the strategic direction of the company's long-term development, this transaction is expected to have a positive impact on the company's future business development.