According to news from Zhitong Finance APP, Youngy Co., Ltd. (002192.SZ) announced that the company, based on its global strategy and operational development needs, plans to invest 0.1 billion yuan to establish a wholly-owned subsidiary, Lanzhou Youngy Material Technology Co., Ltd. (provisional name, subject to approval by the industrial and commercial administration), to engage in business related to lithium-ion battery anode material.

The purpose of this investment to establish a wholly-owned subsidiary is to leverage the company's resource industrial base, assist in advancing the deep development of the lithium industry chain, improve the company's planning of the lithium battery material upstream and downstream industry chain, and continuously create a structured new energy fund industry pattern. At the same time, it is beneficial to enhance the company's economic efficiency and overall competitiveness.