Fangyuan shares plan to issue convertible bonds to raise no more than 660 million yuan for the annual production of 50, 000 tons of high-end ternary lithium precursors and 10, 000 tons of battery lithium hydroxide projects

Fangyuan shares (688148.SH) announced a preliminary plan to issue convertible corporate bonds to unspecified targets. The total amount of funds to be raised by the proposed issuance of convertible corporate bonds shall not exceed RMB 660 million (including capital). The specific amount of funds to be raised shall be determined by the company's board of directors authorized by the general meeting of shareholders (or by persons authorized by the board of directors) within the above limits.

The amount of funds to be raised by issuing convertible corporate bonds to non-specific objects will not exceed 660 million yuan (including capital). After deducting the issuance costs, the net funds raised will be used for the annual production of 50,000 tons of high-end ternary lithium precursors (NCA, NCM) and 10,000 tons of battery lithium hydroxide projects.