Lishen (Qingdao) signed the agreement for additional financing in first run of B-round Financing.

10/19

.2023


On August 23, the signing ceremony of Lishen (Qingdao) New Energy Co., Ltd. (hereinafter referred to as "Lishen (Qingdao)") for additional financing of RMB2.9 billion in first run of B-round financing was convened in Tianjin. Important industries and financial investors including China Southern Power Grid Energy Storage Co., Ltd., China Southern Power Grid Fund, Guotiao Fund Phase II, Quanchai, Chuzhou Xinneng Fund, Jinyang Shares, Kunlun Xinyuan Fund. They provide important safeguard and resources for Lishen Battery’s future capacity expansion, cutting-edge technology R&D and industrial chain expansion. Investor representatives and Tong Laiming, member of China Chengtong Party Committee and vice president of Chengtong, secretary of Party Committee and managing director of Lishen Battery, and Zhang Qiang, deputy secretary of Party Committee and president of Lishen Battery, secretary of Party Committee and president of Lishen (Qingdao), attended the signing ceremony.

At the signing ceremony, Tong Liming said that this strategic financing was a milestone of new opportunities of cooperation between Lishen Battery and its partners and an opportunity of challenging new achievement. Being an important firm under China Chengtong to practice the national new energy strategy, Lishen Battery aims to building a new energy industry flag among central government owned companies and, together with all partners, continuously builds a strong industrial collaboration platform around new mission and task under "double carbon" strategy.

Zhang Qiang pointed out that the seven investors introduced in the financing had close strategic synergy, and in the future, Lishen (Qingdao) would intensify strategic cooperation with investors and important industrial partners, take capital as a link, proceed with cooperation and development in wider areas and at deeper higher level.

Liu Guogang, secretary of the Party Committee and chairman of China Southern Power Grid Energy Storage Co., Ltd., highly recognized the achievements of Lishen Battery as a key manufacturing link in the industrial chain and the role of new energy sci-tech innovation platform. He said that Lishen (Qingdao) was the first project China Southern Power Grid Energy Storage invested around the industry upstream and downstream, the investment was significant, and hoped that the two sides would give full play to synergistic advantage among central government owned enterprises, take strong steps from technical supply sides and demand sides, strengthen sci-tech innovation, transformation and application of achievements, accelerate the pace of new technology routes and products shift to market, and jointly promote high quality development of new energy storage industry.

Fu Yiding, general manager of Southern Power Grid Fund, said that battery industry in which Lishen (Qingdao) was in was a green industry and strategic emerging industry supported by national policies, and Southern Power Grid Fund would work together with its shareholders to promote the development and growth of Lishen (Qingdao), and strive to build Lishen (Qingdao) into a golden business card of the new energy industry of central government owned enterprises, and jointly contribute to the realization of national double carbon goal.

This signing urged Lishen (Qingdao) to establish a more far-reaching strategic partnership with these shareholders., They would explore the possibility of close cooperation in capital, technology and industrial ecological building in future. In particular, in view of the fact that Southern Power Grid Energy Storage is the sole pumped energy storage and new energy storage operating platform under Southern Power Grid, the first domestic listed firm that is mainly engaged in pumped storage and the first player to carry out research and construction of large-scale battery energy storage power stations in China, its strategic synergy with Lishen (Qingdao) is high. On the basis of equity cooperation, the two sides will give full play to the synergistic advantage between them, work together in the new round of state-owned enterprise reform deepening and upgrading actions, conduct intensive cooperation around business expansion, technological innovation and business model innovation, strengthen sci-tech innovation and the transformation and application of achievements, and jointly promote the high quality development of new energy storage industry.

Lishen (Qingdao) is about to launch B+ round of financing, and will work together with those investor that are closely contacted to deepen the cooperation ecosystem for win-win.

Tang Zhongliang, member of the Party Committee and chief accountant of Southern Power Grid Energy Storage, Tang Jianliang, assistant general manager and chief legal advisor of Southern Power Grid Energy Storage, Xu Mingyu, member of the Party Committee and director of Quanchai, Lian He, executive general manager of Kunlun Xinyuan Fund, Zhou Zengguang, secretary of the Board of Directors of Jinyang Shares, Zheng Zheming, member of the Party Committee and deputy president of Lishen Battery, Mao Dawei and Huang Hui, assistant general manager, heads of relevant departments of Lishen Battery attended the signing ceremony.