Hualian Holdings: plans to acquire 100% stake in overseas lithium company for $175 million in cash.

Hualian Holdings announced its plan to acquire 100% of the shares of Canadian company Argentum Lithium S.A. for $175 million in cash, equivalent to 1.235 billion Chinese yuan. The transaction is subject to approval by the shareholders' meeting and the relevant departments such as the Shenzhen Commerce Bureau, the Shenzhen Development and Reform Commission, the State Administration of Foreign Exchange, as well as the Canadian government for national security review and approval. This transaction is an important move for the listed company to promote industrial transformation, and it will synergize with the company's previous layout in areas such as lithium extraction from salt lakes and sorbent production, to help improve the company's investment layout in the new energy industry chain.