Ganfeng Lithium boosts subsidiary capital, secures financing, adjusts incentive plan

Ganfeng Lithium Battery, a controlling subsidiary of Ganfeng Lithium, will undergo a capital increase and share expansion, introducing new investors. The total capital increase will not exceed 250,000 yuan, aiming to bolster its financial strength and reduce its asset-liability ratio. Ganfeng Lithium will waive its pre-emptive rights, maintaining Ganfeng Lithium Battery as a controlling subsidiary and not altering its consolidated financial statements.

Concurrently, Ganfeng Lithium and its joint venture, Luyuan Des Mines Congo, will act as co-lessees for a new financing lease facility valued at up to 50,000 yuan over six years. This direct lease, involving equipment for the Bugamaixi potash mine in Congo (Brazzaville), is intended to optimize asset allocation and enhance the joint venture's financing channels and operational efficiency.

Furthermore, Ganfeng Lithium will cancel 1,317,750 stock options under its 2022 stock option incentive plan. This includes options from employees who departed, options that expired, and options that did not meet performance targets, ensuring the plan remains aligned with company performance and employee retention.