Fengyuan shares plan to increase capital in Qinghai Juzhiyuan

On November 28, Fengyuan issued an announcement that the company signed the "Equity Investment Framework Agreement" with Liu Bingsheng, Cai Xianwei, Tianyu Ecology and Qinghai Juzhiyuan, intending to invest
in Qinghai Juzhiyuan through capital increase.
After the completion of this capital increase, the company is expected to hold 35% of the equity of Qinghai Juzhiyuan, and Qinghai Juzhiyuan will become a shareholding subsidiary
of the company.

Fengyuan Co.
, Ltd.
said that the company intends to further integrate resources through its participation in Qinghai Juzhiyuan, realize the company's overall strategic layout in the new energy lithium battery industry chain, promote the company's sustainable development, and conform to the company's long-term development strategy
.

It is reported that Qinghai Juzhiyuan is engaged in the production and sales of lithium hexafluorophosphate new energy materials enterprises, has been approved by the management committee of Qaidam circular economy pilot zone 6000 tons / year high-end lithium hexafluorophosphate project, and 8000 tons / year high-end lithium hexafluorophosphate project, of which the first phase of 2000 tons / year lithium hexafluorophosphate production line has been officially put into operation, other lithium hexafluorophosphate production lines are still under construction
.