[LBM TECH] LBM received CATL investment
Release time:
2021-10-19
On the evening of October 18th, LOPAL TECH announced that in order to further enhance the comprehensive strength of its holding subsidiary LBM in project research and development, market expansion, product mass production, and other aspects of the lithium iron phosphate cathode material industry chain, LOPAL TECH and CATL's wholly-owned subsidiary Ningbo Meishan Bonded Port Area Wending Investment Co., Ltd., as well as CATL's equity investment partnership enterprise Fujian Times Mindong New Energy Industry, plan to increase the capital of the company's holding subsidiary LBM by 100 million yuan, 165 million yuan, and 180 million yuan respectively. After the capital increase is completed, LOPAL TECH、 Wending Investment and Times Mindong respectively hold 53.81%, 9.57%, and 10.43% of the equity of LBM; The registered capital of LBM will be changed from 357 million yuan to 481 million yuan.
It is reported that CATL is currently an important supplier for LBM. Along with CATL's investment, LBM will also acquire 100% equity of LBM Sichuan, a wholly-owned subsidiary of LOPAL TECH, for 100 million yuan. After the completion of this acquisition, LBM will become the sole entity engaged in the lithium iron phosphate cathode material business within the LOPAL TECH system.
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