Rongbai Technology (688005.SH) intends to invest in and acquire a controlling stake in Guizhou Xinren, which currently owns a production line capable of producing 60,000 tons of lithium iron phosphate annually.

Financial APP news, Evergrand Technology (688005.SH) announced that the company plans to use its own funds of 342 million yuan to acquire 54.9688% of the shares of Guizhou Xinren New Energy Technology Co., Ltd. (hereinafter referred to as "Guizhou Xinren"), and to use its own funds of 140 million yuan to increase the capital of Guizhou Xinren. After the completion of this transaction, the company will hold a 93.2034% stake in Guizhou Xinren, making it a subsidiary of the company and included in the company's consolidated financial statements.