Announcement from Ganfeng Lithium (002460.SZ), the company's wholly-owned subsidiary Jiangxi Ganfeng Circular Technology Co., Ltd. is the controlling shareholder...
According to the Zhongtong Finance APP report, Ganfeng Lithium (002460.SZ) announced that its wholly-owned subsidiary Jiangxi Ganfeng Circular Technology Co., Ltd.'s holding subsidiary Jiangsu Ganfeng Circular Technology Co., Ltd. (referred to as 'Ganfeng Circular') plans to sign a 'Equity Cooperation Agreement' with Nanjing Public Utilities and Nanjing Environmental Group Co., Ltd., aiming to jointly invest in establishing Nanjing Public Utilities Ganfeng Circular Technology Co., Ltd. (tentative name), in order to fully leverage their professional and resource advantages, focusing on promoting the circular economy industry layout around the comprehensive utilization of power battery projects. The joint venture's registered capital is 0.1 billion RMB, with Ganfeng Circular planning to contribute 40 million RMB, accounting for 40% of the registered capital, Nanjing Public Utilities planning to contribute 40 million RMB, accounting for 40% of the registered capital, and the Environmental Group planning to contribute 20 million RMB, accounting for 20% of the registered capital.
The announcement indicates that the 'Equity Cooperation Agreement' signed by Ganfeng Circular and its partners fully integrates the advantages of various aspects such as strategy, capital, resources, and operational management, focusing on promoting the circular economy industry layout around the comprehensive utilization of batteries. It extends to the vertical and horizontal integration of industries related to the secondary utilization/recycling of new energy batteries, waste metals, waste electromechanical equipment, and other recycling resources, through the in-depth development of urban mineral resources, promoting the development of related industries, establishing a circular economy industrial ecosystem for the recycling of waste materials, investing in and operating facilities for the recycling of renewable resources, and creating a system for the recycling of waste materials.
