A wholly-owned subsidiary of Tianqi Co., Ltd. plans to acquire a 10% stake in Qiantai Technology (Shenshan)

Qiantai Technology Shenshan Company is a subsidiary of Qiantai Technology, which is engaged in the scrapping of new energy vehicles and the recycling and reuse of lithium batteries. Tianqi Co., Ltd. recently announced that the company’s wholly-owned subsidiary, Tianqi Circulation Investment, plans to use its own funds to transfer 10% of the equity of Qiantai Technology (Shenshan) held by Shenzhen Qiantai at a consideration of 54.36867 million yuan. After the completion of this transaction, the company will further cooperate with Shenzhen Expressway Group based on the platform of Qiantai Technology (Shenshan) to develop new energy vehicle scrapping and lithium battery recycling business, and make full use of the resource advantages of all parties to drive the company. The coordinated development of the lithium battery recycling business promotes the company to develop the market in the Guangdong-Hong Kong-Macao Greater Bay Area.

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