Tianqi Lithium (Shehong) Co., Ltd. announced a private placement transaction for increased registered capital of of CNY 326 million through 326,000,000 shares at a price of CNY 1 per registered capital on July 19, 2022. The transaction will include participation from returning investor Tianqi Lithium Corporation to retain its 100% stake in the company. Post completion of the transaction, the capital of the company will increase from CNY 600 million to CNY 926 million.

The transaction has been approved by the board of directors of Tianqi Lithium Corporation in the 26th meeting of the 5th Board of Directors and the 21st meeting of the 5th Board of Supervisors.