TSAKER NE (01986.HK): Proposes establishment of joint venture with Zijin Lithium to develop iron phosphate business, with registered capital of RMB 93.2 million
NewTimeSpace News: Tsaker New Energy Tech Co., Limited (stock code: 01986) published a discloseable transaction announcement, announcing that on 6 August 2026, Shandong Tsaker New Materials, an indirect non-wholly-owned subsidiary of the Company, entered into a joint venture agreement with Fujian Zijin Lithium Materials Technology Co., Ltd. to establish a joint venture with a registered capital of RMB 93.20 million, in which Shandong Tsaker New Materials will contribute RMB 51.26 million in cash for a 55.00% interest and Zijin Lithium will contribute RMB 41.94 million in cash for a 45.00% interest.
The joint venture, proposed to be named Fujian Tsaker Zijin New Materials Co., Ltd., will engage in the research, development, production and sales of iron phosphate, the principal product of the Group's battery materials segment, and will lease Zijin Lithium's existing iron phosphate assets with an annual production capacity of approximately 20,000 tonnes, with expansion and upgrading works to be carried out on the iron phosphate production line; the paid-in registered capital will be used exclusively for such expansion and upgrading project. Upon establishment, the joint venture will become a subsidiary of the Company, with its results, assets and liabilities consolidated into the Group's financial statements.
As one or more applicable percentage ratios in respect of the establishment of the joint venture exceed 5% but are below 25%, the establishment constitutes a discloseable transaction of the Company, subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules but exempt from the circular and shareholders' approval requirements. Zijin Lithium is an indirect wholly-owned subsidiary of Zijin Mining Group Company Limited (stock code: 2899) and is an independent third party.
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