February 5, 2023

Chinese language lithium battery fabrics maker Shanshan Company introduced on Monday that it plans to win extra funding from its 4 strategic traders thru its wholly-owned subsidiary.

Further investments in its subsidiary Shanghai Shanshan Lithium Battery Subject material Generation Co. Ltd. had been made through Wending Funding, BYD, Amperex Generation Restricted (ATL) and the Kunlun Fund.

The whole capital raised totaled 3.05 billion yuan ($477 million), and the brand new registered capital subscribed for Shanghai Shanshan Lithium Battery is 305 million yuan, amongst which BYD higher its capital through 150 million yuan and ATL through 100 million yuan.

After the final touch of this capital building up, the registered capital of Shanghai Shanshan Lithium Battery will exchange from 877 million yuan to at least one.182 billion yuan, and the shareholding ratio of Shanshan Company in Shanghai Shanshan Lithium Battery shall be lowered from 89.99% to 87.08%. Shanghai Shanshan Lithium Battery will stay a maintaining subsidiary of Shanshan Company.

Shanshan Company was once established in 1992 and is basically engaged within the analysis and building, manufacture and distribution of lithium battery fabrics. The corporate may be concerned within the new power car and effort control companies whilst additionally having pursuits in non power companies comparable to clothes, mission capital and monetary leasing. Amongst those companies, the brand new power trade has develop into the primary motive force of its luck the point of interest of its long run building.

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As well as, Shanshan Company disclosed its 2021 annual document on Tuesday. Within the 2021 fiscal yr, the corporate completed an working source of revenue of 20.699 billion yuan, a year-on-year building up of 151.94% whilst the online benefit attributed to the father or mother corporate was once 3.34 billion yuan, a year-on-year building up of 2320%. The pointy year-on-year building up in efficiency was once basically derived from the power within the new power car business right through the yr and the robust call for from downstream customers. Additional, Shanshan Company sped up its manufacturing free up for its lithium battery fabrics companies after seeing its general gross sales quantity and benefit ranges building up considerably yr on yr.

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