On September 4, Xinwangda Electronics announced that Ideal Automobile intends to increase its subsidiary Xinwangda Power by 2.65 billion yuan, corresponding to 8.79% of the latter's shares after the completion of the capital increase. After the completion of the
transaction, the relevant subjects of Ideal Automobile will indirectly hold 11.17% of the shares of Xinwangda Power and become the second largest shareholder of Xinwangda Power. The two sides will carry out more in-depth long-term collaboration in power battery research and development, manufacturing and quality management.
It is noteworthy that on July 24, Xinwangda announced that Sunshine Power had subscribed for about 346 million new shares of Xinwangda Power with 655 million yuan, and the shareholding ratio increased from 2.46% to 4.77% after the capital increase, making it the third largest shareholder of Xinwangda Power. Tianqi Lithium's Shehong Tianqi invested 150 million yuan and held 0.55% of the shares.
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