According to the Zhitong Finance App, Jinshan Technology Industry (00040) announced that it has entered into a subscription agreement with ZincFive Inc. (target company), a private limited company established in Delaware, USA, through the company's wholly-owned subsidiary Asset Link Asia Limited (Asset Link). Under the subscription agreement, Asset Link agreed to invest $1.5 million in the target company as part of the target company's Series D financing.

According to reports, the target company is a limited company established under the laws of the US state of Delaware, which is mainly engaged in developing nickel-zinc battery technology and applications.

As stated in previous announcements, the Group signed a contract production agreement with a customer to supply nickel-based batteries for energy storage systems. At the same time, the Group is committed to developing sustainable energy storage solutions and will continue to invest in strengthening the Group's R&D capabilities in nickel-based battery systems. The company actively seeks investment opportunities in sustainable energy storage technology, particularly those that are forward-looking and likely to generate synergies with the company's existing business.

It is anticipated that the investment will provide a reasonable financial return to the company. If the target company obtains meaningful share capital from senior investors to develop its business through qualified financing, the company will be able to become a stakeholder in a leading global nickel-zinc battery and components company in the ever-evolving market for sustainable energy storage technology and nickel-zinc batteries and components. Investment terms are reached after fair negotiations between the group and the target company in accordance with normal business practices.