【Nandu Power Announces 750 Million Yuan Increase in Capital for Energy Storage and Lithium Battery Recycling】

【Increased capital of 750 million! Nandu Power increases investment in energy storage and lithium battery recycling】

On December 26, Nandu Power announced that it plans to increase its capital to its subsidiaries Jiuquan Nandu Power Co., Ltd. (hereinafter referred to as "Jiuquan Nandu") and Anhui Nandu Huatuo New Energy Technology Co., Ltd. (hereinafter referred to as "Huatuo New Energy") by 200 million and 550 million yuan respectively. After the capital increase, the company will still hold 100% equity in Jiuquan Nandu and Huatuo New Energy.

Regarding the reasons for the capital increase, Nandu Power stated that it is mainly based on the company's strategic development and the operational needs of its subsidiaries, to further strengthen its financial strength, improve overall operational capabilities and industry competitiveness, and facilitate the steady development of its subsidiary businesses.

The good prospects for the development of the power storage industry have become a market consensus, prompting Nandu Power to further increase its capacity for energy storage system construction. Jiuquan Nandu and Huatuo New Energy, the targets of this capital increase, are both important subsidiaries for the company's development of the energy storage business.