Ganfeng Lithium unit to buy back shares, reinvest

Ganfeng Lithium (SZSE:002460) announced its subsidiary, Ganfeng Lithium Battery, will undertake a targeted capital reduction and share repurchase program. Valued at approximately RMB 160 million, the buyback aims to consolidate Ganfeng Lithium Battery's position within Ganfeng Lithium's integrated lithium ecosystem strategy. The repurchased shares will come from a variety of investors. Concurrently, Ganfeng Lithium plans to increase its capital investment in the subsidiary, contributing an additional RMB 250 million, bringing its total stake to 74.84%. This reinvestment will support Ganfeng Lithium Battery's ongoing operations and key initiatives like the development of energy storage projects. As a result, Ganfeng Lithium's holding in Ganfeng Lithium Battery will rise to 79.34%.