According to Zhitong Finance App, Caike New Energy (01986) issued an announcement. On August 6, 2026 (after the trading period), Shandong Caike New Materials, an indirect non-wholly-owned subsidiary of the company, signed a joint venture agreement with Zijin Lithium Yuan. Based on this, the contracting parties agreed to establish a joint venture with a registered capital of RMB 93.2 million. After establishment, the joint venture will own 55.00% and 45.00% of the shares of Shandong Caike New Materials and Zijin Lithium, respectively. Among them, Shandong Lottery New Materials will invest RMB 51.6 million in cash, and Zijin Lithium will invest RMB 41.94 million in cash.
The joint venture will become a subsidiary of the company, and its operating performance, assets and liabilities will be consolidated into the Group's financial statements.
The contracting party decided to establish a joint venture to engage in R&D, production and sales of iron phosphate, the main product in the Group's battery materials sector. The joint venture will lease its existing iron phosphate assets (including land, buildings and equipment) with an annual production capacity of about 20,000 tons from Zijin Lithium, and will expand and upgrade the iron phosphate production line.
The purpose of establishing a joint venture is to integrate the respective strengths of the contracting parties, specifically:
(1) Give full play to the Group's advantages in iron phosphate production process, technology research and development and operation management, and the capital advantages of Zijin Mining to jointly promote the development of the Group's iron phosphate business;
(2) Relying on the expansion and upgrading of the existing iron phosphate production line with an annual output of 20,000 tons, the initial plan is to increase production capacity to 100,000 tons of iron phosphate products per year, and further expand production capacity in due course according to future market demand;
(3) Relying on the advantages of the industrial cluster where the project is located, strengthen collaboration with upstream raw material suppliers and downstream customers to improve supply chain efficiency and operational efficiency; and
(4) Improve the layout of the Group's iron phosphate production base, and add a production base in Shanghang, southern Fujian to the existing production base in Dongying, Shandong, and Cangzhou, Hebei, to further cover the southern market, reduce costs, and enhance product competitiveness.
After considering the above situation, the directors believe that the joint venture agreement and the proposed transactions under it will help the Group to seize development opportunities in the new energy battery materials market, enhance the market competitiveness of the Group's iron phosphate business, and are in line with the Group's long-term development strategy, and that the joint venture agreement and the proposed transactions under it are based on general commercial terms, which are fair and reasonable, and conforms to the overall interests of the company and shareholders.