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Chengxin Lithium Successfully Introduced the Strategic Investors BYD

Chengxin Lithium Successfully Introduced the Strategic Investors BYD

2022-11-10

We are pleased to announce that Chengxin’s non-public offering project is approved by the Issuance Examination Committee of the China Securities Regulatory Commission on October 31! BYD is introduced as the strategic investor in this non-public offering, and fully subscribes the raised funds (not more than 2.3 billion yuan), which will be used to supplement working capital and repay debts.

As one of the leaders in the global new energy vehicle industry, BYD has the world's leading battery, motor, electronic control and vehicle core technologies, and occupies a large market share of new energy vehicle market. BYD and Chengxin will deepen cooperation in the fields of raw material purchase, sales and processing, technical cooperation, cooperative development of lithium resources, and industrial chain resource coordination.

Under the background of "carbon peaking and carbon neutrality", the world's major economies are actively promoting sound economic system with green, low-carbon and circular Development. The new energy vehicle industry is booming, and the demand for energy storage is growing rapidly, driving the rapid development of the lithium battery and lithium battery new energy materials industry. The funds raised from this non-public offering will supplement the working capital required for the Company’s business expansion, enhance the Company’s financial strength and anti-risk ability. The funds are conducive to the Company's optimization in business layout, financial capabilities, talent introduction, etc., and help the Company grasp opportunities for the rapid development of the lithium battery new energy industry to accelerate the realization of the strategic goal of " To Be The World’s Leading Li-ion Battery Materials Producer".


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