Tianqi Lithium yesterday signed a "Capital Increase and Share Framework Agreement" with Shanghai Aerospace Power Technology Co., Ltd., and the company will increase its capital in cash with the existing shareholders of Aerospace Power. The funds are mainly used for the construction project of the production and supporting capacity of the power lithium-ion battery core and integrated system with an annual output of 50 million ampere. After the capital increase and share expansion, Tianqi Lithium holds 20% of the aerospace power supply and became its second largest shareholder, and is strongly involved in the new energy vehicle power lithium battery industry.
    According to the announcement, the space power system was jointly established by Shanghai Space Power Research Institute, Shanghai Aerospace Industry Corporation, Shanshan Shares, and Shenzhen Dazu Venture Capital Co., Ltd. in February 2009. The limited liability company has a registered capital of 90 million yuan. The equity ratio is 34% for Shanghai Space Power Research Institute, 30% for Shanghai Aerospace Industry Corporation, 18% for Shanshan, and 18% for Dazu Venture Capital. After this capital increase, the registered capital of aerospace power supply will increase to 350 million yuan.
    Aerospace power is a high-tech enterprise specializing in the development, production and sales of power lithium-ion batteries and system products under the Shanghai Aerospace Science and Technology Corporation. The focus is on new energy vehicles and energy storage. Provides safe, reliable, and advanced power system solutions and related products in areas such as mounting. The core technology comes from the Shanghai Space Power Research Institute (Aerospace 811 Institute). It has become the support platform for China Aerospace Science and Technology Group to develop the aerospace lithium-ion battery technology application industry, and has undertaken the “high” in the high-tech industrialization of Shanghai's new energy vehicles. The key project of the performance of lithium-ion battery and management system industrialization is also the key enterprise of Shanghai's rapid promotion of high-tech industrialization of new energy vehicles.