Minmetals and Metallurgy Group Successfully Completes 1 Billion Private Placement Subscription, Boosting High-Quality Development of Lithium Battery Industry

On July 7, Easpring Technology (stock code: 300073), a publicly listed firm under BGRIMM, announced the successful completion of its private placement project. In this private placement, BGRIMM fully subscribed to Easpring Technology's non-publicly issued shares, with a capital injection of 1 billion yuan. After the subscription, BGRIMM's shareholding ratio increased from 23.19% to 28.52%.

During this critical period of deepening state-owned enterprise reform and fostering the development of new quality productive forces, BGRIMM's strategic shareholding increase not only further solidified its controlling position but also set an exemplary model for central state-owned enterprises to empower the development of the NEV materials industry. This marked BGRIMM's second major shareholding increase in Easpring Technology after 2021, demonstrating the central enterprise's firm determination and strategic resolve to serve national strategies.

Shouldering the National Strategic Mission

Leading the High-Quality Development of the Lithium Battery Materials Industry

As a technology-oriented central state-owned enterprise, BGRIMM has always kept in mind the "great interests of the country" and deeply integrated its enterprise development into the overall plan for building a modern industrial system. Easpring Technology, as a leading enterprise in the global lithium battery cathode materials sector, not only maintains a leading position in mainstream technology routes such as multi-component materials and lithium iron (manganese) phosphate but also achieves significant breakthroughs in cutting-edge fields like solid-state batteries and sodium-ion batteries. Its products have successfully entered the international high-end supply chain. BGRIMM's capital injection and shareholding increase is a concrete practice of implementing General Secretary Xi Jinping's important expositions on accelerating the development of new quality productive forces, reflecting a firm belief in Easpring Technology's future development and a commitment to practicing the national new energy strategy.

Building a Comprehensive Empowerment System

Creating New Competitive Advantages in the Lithium Battery Industry

This private placement is an important initiative by BGRIMM to establish a virtuous cycle system of "technology-industry-capital," using capital to empower the integration of technological innovation and industrial innovation, and driving Easpring Technology to further consolidate its advantageous position from technological leadership to industrial leadership.

Empowerment through Technological Innovation: Assisting Easpring Technology in further increasing its technological investment and accelerating the R&D and industrialisation of key technologies for next-generation battery materials such as solid-state lithium batteries and sodium-ion batteries.

Global Layout Empowerment: Accelerating the construction of Easpring Technology's overseas production sites and establishing a new pattern of "localized services + globalized operations."

Industrial Synergy Empowerment: Leveraging BGRIMM's technological advantages in resource fields such as nickel, cobalt, and lithium, driving Easpring Technology to accelerate the construction of an industry chain layout from mineral resources to end-use applications, and achieving new breakthroughs in green and low-carbon development and the expansion of emerging application scenarios.

Demonstrating the Responsibility of Central State-Owned Enterprises

Reshaping the New Coordinates of Capital Market Value

Since 2023, the lithium battery materials industry has undergone periodic adjustments, with some raw material prices experiencing increased fluctuations. BGRIMM Technology Group has always adhered to the philosophy of "long-term investment and value investment," actively fulfilling its responsibilities as a controlling shareholder, focusing on the long-term development and value enhancement of publicly listed firms, and supporting the high-quality development of Easpring Technology. This full subscription of the fixed increase shares not only reflects full confidence in Easpring Technology's management team and business development but also demonstrates a firm belief in the long-term positive outlook of China's new energy industry. It sends a positive signal to the market, helping to boost investor confidence and stabilize market expectations.

BGRIMM Technology Group will continue to fulfill its responsibilities as a controlling shareholder of a central state-owned enterprise, continuously improving the integrated development model of "research, production, sales, and investment," and fully supporting Easpring Technology to become a world-class new energy materials enterprise representing China's strength, making positive contributions to safeguarding the security of the national industry chain and supply chain, and achieving high-level technological self-reliance and strength.