B[Shanshan Co., Ltd.: Plans to raise no more than 4 billion yuan in additional capital from indirect controlling shareholder Conch Group] On October 21, Shanshan Co., Ltd. (600884.SH) announced that the company plans to issue A shares to specific targets. The target of the issuance is the indirect controlling shareholder Conch Group, and Conch Group plans to subscribe in full with cash. The total amount of funds planned to be raised in this issuance will not exceed 4 billion yuan, part of which will be used to support the construction of lithium battery anode material integration projects and supplement working capital. The issuance price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date, and shall not be lower than the audited net assets per share at the end of the most recent period before the issuance. This issuance constitutes a related transaction, which still requires approval from the state-funded enterprise, review and approval by the shareholders' meeting, review by the Shanghai Stock Exchange, and registration with the China Securities Regulatory Commission.
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