* ST Salt Lake and Koda Manufacturing plans to increase investment in Lanke Lithium Industry by 620 million to speed up the construction of Lithium Carbonate Project

* ST Salt Lake announced on the evening of December 25 that shareholders of its subsidiaries intend to increase their capital by a total of 620 million yuan in the same proportion. Among them, * ST Salt Lake plans to increase the capital of Lanke Lithium Industry by 319 million yuan according to the equity ratio of 51.42%; two subsidiaries of Koda Manufacturing, Koda Lithium Industry and Qinghai Power, plan to increase the capital of Lanke Lithium Industry by 48.58%. In total, the capital of Lanke Lithium Industry will be increased by 301 million yuan.

The announcement shows that the price of this capital increase is 3.55 yuan per share, of which 175 million yuan is included in the registered capital and 445 million yuan in the capital reserve. After the completion of the capital increase, the share capital of Lanke Lithium Industry will be changed from 343 million shares to 518 million shares, and the registered capital will increase from 433 million yuan to 518 million yuan.

This time, the main business of Lanke Lithium Industry is the production and sales of lithium carbonate. It currently has a production capacity of 10,000 tons of industrial-grade lithium carbonate and is implementing an expansion project of 20,000 tons of battery-grade lithium carbonate per year.

* ST Salt Lake said that on the one hand, the company's capital increase in Lanke Lithium Industry will help to ease the financial pressure of Lanke Lithium Industry, speed up the construction of 20,000t / a battery-grade lithium carbonate project, and enhance its core competitiveness; on the other hand, it will help to improve the company's return on investment, which is in line with the company's strategic development and long-term planning.

Data released by SMM show that lithium carbonate turnover last week, Sichuan and Jiangxi manufacturers mainstream transaction price has reached 51000 yuan / ton, some downstream material manufacturers feedback, the recent transaction price and small and medium-sized material price difference narrowed, the first quarter of next year lithium plant overhaul superimposed Spring Festival logistics outage, the year before the purchase demand increased, procurement inquiry reached 55000 yuan / ton.