Ganfeng Lithium acquires 60% stake in Inner Mongolia Anda New Energy for RMB 1

Ganfeng Lithium announced on May 9 that it had acquired 60% of the equity of Inner Mongolia Anda New Energy from Anda Technology for RMB 1. Anda Technology is a company specializing in the production of positive electrode materials for lithium iron phosphate batteries, while Inner Mongolia Anda New Energy is a joint venture established by Ganfeng Lithium and Anda Technology, aiming to invest in the construction of a 20,000-ton annual production of lithium iron phosphate positive electrode material project. After the completion of this transaction, Ganfeng Lithium will own all the equity of Inner Mongolia Anda New Energy and will fully control the above-mentioned lithium iron phosphate material project.