Tianci Materials (002709.SZ): Plans to invest no more than 260 million US dollars to establish a number of overseas subsidiaries

Gelonghui Finance ·  Jan 13, 2023 19:20

Gelonghui January 13th 丨Tianci Materials (002709.SZ) announced that on January 12, 2023, the company held the 45th meeting of the fifth board of directors and the 37th meeting of the fifth board of supervisors deliberated and passed the “Proposal on Investing in the Establishment of Overseas Subsidiaries”, agreeing that the company would establish a wholly-owned Dutch company through Singapore Tianci Investment, and that the Dutch Tianci Company would invest in the establishment of a wholly owned US management company, and the US management company invested in the establishment of a wholly-owned US entity company 1 and US entity 2. After establishment, the US entity company would mainly engage in the production and sale of lithium-ion battery materials. The total investment did not exceed 260 million US dollars, and the source of funding was own funds. After the establishment of overseas subsidiaries, the company will carefully invest capital in stages according to market conditions.

The establishment of overseas subsidiaries is the company's layout based on the prospects for global NEV development and in line with the company's overseas development strategy. The establishment of a Dutch subsidiary this time can further improve the company's overseas equity investment structure and establish a platform for the company's overseas investment and financing. At the same time, the establishment of an American management company and physical subsidiaries is conducive to the development and promotion of subsequent projects, preparing the company to better serve and develop the North American market, and is in line with the company's international development strategy for lithium battery materials.

The translation is provided by third-party software.

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