Chengdu Tianqi Lithium Co., Ltd. announced a private placement of 6,200,000,000 shares at an issue price of CNY 1 per share for gross proceeds of CNY 6,200,000,000 on July 19, 2022. The transaction will include participation from existing investor, Tianqi Lithium Corporation. On closing, the investor will retain its 100% stake in the company.

On closing, the registered capital of the company will increase from CNY 2,500,000,000 to CNY 8,700,000,000. The transaction was approved at the 26th meeting of the 5th Board of Directors and the 21st meeting of the 5th Board of Supervisors.