Lixin Energy's founding background and equity structure

Lixin Energy was founded in 2016. In 2022, Geely Technology took over from CITIC and became the company's largest shareholder. Tianyancha information shows that Geely Technology Group Co., Ltd. holds 60% of Lixin Energy. Equity penetration shows that Li Shufu, the founder of Geely Automobile, is the largest beneficiary of Lixin Energy, with a proportion of 50.37%. Sources said that due to the limitations of battery technology, Lixin Energy's power battery production line currently provides batteries for commercial vehicles and only supplies to the Geely system. Due to the cross-influence of various reasons, the number of commercial vehicle power batteries purchased by Geely's commercial vehicle business from Lixin Energy is limited, which also leads to Lixin Energy's current construction capacity being less than 30% of full production.