Xiangtan Electric plans to issue no more than 487 million yuan of convertible bonds to invest in lithium manganese oxide battery material projects

Xiangtan Electric announced plans to issue convertible corporate bonds to unspecified parties, raising no more than 487 million yuan, mainly for investment in its "30,000 tons per year spinel lithium manganese oxide battery material project" and to supplement working capital. As one of the key materials for lithium batteries, lithium manganese oxide has a great impact on the core performance and manufacturing cost of lithium batteries. In recent years, due to the advancement of material modification technology, manganese-based positive electrode materials have begun to attract the attention of new energy companies and have become an important direction for mainstream companies' battery research and development and large-scale application.