Shanghai Emperor of Cleaning Hi-Tech Co LtdCompany's subsidiary is raising capital and investing in a solid-state battery project, but impact on the parent is indirect and uncertain.

Shanghai Xiba announced that its controlled subsidiary Keyuan Guneng will introduce investor Jinyun Litai through a targeted capital increase, with the latter planning to contribute 40 million yuan to subscribe to Keyuan Guneng's newly increased registered capital. Meanwhile, the company plans to implement a 0.5 GWh solid-liquid hybrid battery cell and 500 tonnes per year solid-state electrolyte powder industrialization project in Jinyun County, Zhejiang Province, through a wholly-owned subsidiary of Keyuan Guneng, with a planned investment of 100 million yuan.
Shanghai Emperor of Cleaning Hi-Tech Co LtdCompany's subsidiary is raising capital and investing in a solid-state battery project, but impact on the parent is indirect and uncertain.
Keyuan Guneng receives a 40 million yuan capital increase from Jinyun Litai, directly boosting its capital.
Jinyun Litai invests 40 million yuan to subscribe to new registered capital of Keyuan Guneng, gaining an equity stake.