Ganzhou Tengyuan Cobalt Industry New Material Co., Ltd.
Announcement on Investment in Construction of 160,000 Tons/Year Sulfur Acid and Supporting Power Generation Project
The company and the entire board of directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
I. Investment Overview
-
Ganzhou Tengyuan Cobalt Industry New Material Co., Ltd. (hereinafter referred to as "the Company") plans to invest in the construction of a "160,000 tons/year sulfur acid and supporting 0.5 million tons/year sulfur dioxide and 5.3MW steam turbine power generation project" within the factory area of Heshan New Energy Mining Simple Joint Stock Co., Ltd. (hereinafter referred to as "Heshan New Energy," a holding subsidiary of the Company, in which the Company indirectly holds 60% through its wholly-owned subsidiary Tengyuan New Material (Hong Kong) Investment Holding Co., Ltd.) in Kolwezi, Lualaba Province, Democratic Republic of Congo. The project investment amount is USD 18 million, with a construction period of approximately 13 months. The sulfuric acid unit is expected to be put into operation in 11 months, and the power generation unit in 13 months. Production of acid is expected in August 2027, and power generation in October 2027.
-
The funds for this investment will come from the Company's own funds. If the source of funds needs to be changed later, it will be subject to the relevant approval procedures.
-
This external investment does not involve related-party transactions and does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies" issued by the China Securities Regulatory Commission.