Grammy to raise 2.951 billion yuan for power battery industry chain project

Grammy（002340）announced on late 5 May that the board of directors meeting decided to terminate the original plan and put forward a new scheme as the financial supervising policy changed.Asian Metal Copyright The new scheme noted that the raising value should be no more than 2.Asian Metal Copyright The new scheme noted that the raising value should be no more than 2.Asian Metal CopyrightGrammy（002340）announced on late 5 May that the board of directors meeting decided to terminate the original plan and put forward a new scheme as the financial supervising policy changed.Asian Metal Copyright951 billion yuan with less than 587 million shares, which shall be deducted of the issuing fee and used for projects such as power battery for green dismantled recycling vehicles, precursor raw martial for recycling ternary material and ternary material for recycling power battery, etc.

Grammy mentioned that the fund raising will help the company to strengthen the integration of businesses including the recycling of waste battery, cobalt-nickel and other precious metals waste; NCM precursor and NCM production; and recycling of scrap cars. The company will fully take advantages of technology and resources to complete and consolidate the industry chain, intensifying the construction of the whole industry chain from scrap battery recovery to power battery recycling, and linking the industry chain from raw material of power battery to battery pack.

.Asian Metal Copyright Grammy mentioned that the fund raising will help the company to strengthen the integration of businesses including the recycling of waste battery, cobalt-nickel and other precious metals waste; NCM precursor and NCM production; and recycling of scrap carsAsian Metal Copyright