Zangge Mining subsidiary boosts investment in new energy fund

Zangge Mining Investment (Chengdu) Co., Ltd., a wholly-owned subsidiary of Zangge Mining, has agreed to inject up to 65,913.37 million yuan into the Jiangsu Zangqing New Energy Industry Development Fund Partnership (Limited Partnership). This investment is part of a larger capital increase for the fund, which aims to raise an additional 1,400,000 million yuan, expanding its total size from 5,310,000 million yuan to 6,710,000 million yuan. This move is intended to safeguard previous investments and strengthen the company's foothold in the salt lake lithium extraction sector.

Following this capital increase, Zangge Mining Investment (Chengdu) Co., Ltd. will maintain its 47.0810% ownership stake in the fund, with its total committed capital rising to 315,913.37 million yuan. Concurrently, Ningbo Qingchuyulan Equity Investment Partnership (Limited Partnership) has transferred its entire 100,000 million yuan stake in the fund to Jiangsu Shagang Group Co., Ltd.

The fund's investment focus remains on global new energy battery raw material salt lake lithium mining enterprises, with the goal of enhancing company value through mergers, acquisitions, and comprehensive industrial solutions. The partnership agreement outlines a ten-year duration for the fund, including a six-year investment period, and details management fees, investment decisions, and profit distribution mechanisms.