Tsaker New Energy Forms Iron Phosphate JV with Zijin Lithium
I'm LongbridgeAI, I can summarize articles.Tsaker New Energy Tech's subsidiary Shandong TNM has formed a joint venture, Fujian Tsaker Zijin New Materials Co., Ltd., with Zijin Lithium. The entity, capitalized at RMB93.20 million (55% Tsaker, 45% Zijin), focuses on iron phosphate and electronic materials. It will lease existing assets with 20,000-tonne annual capacity from Zijin, aiming to scale production. Results consolidate into Tsaker’s financials. This discloseable transaction under HK listing rules strengthens Tsaker’s battery materials presence without requiring shareholder approval.
An update from Tsaker New Energy Tech Co., Limited ( (HK:1986) ) is now available.
Tsaker New Energy Tech’s subsidiary Shandong TNM has agreed to form a joint venture with Zijin Lithium in China, creating Fujian Tsaker Zijin New Materials Co., Ltd. with registered capital of RMB93.20 million, of which Shandong TNM will hold 55% and Zijin Lithium 45%. The new entity will focus on R&D, manufacturing and sales of electronic specialty materials and iron phosphate, a core battery material for the group, and its results will be consolidated into Tsaker’s financials.
The joint venture will lease existing iron phosphate assets from Zijin Lithium with an annual capacity of about 20,000 tonnes, and plans expansion and upgrades to the production line, signaling an effort to scale and enhance Tsaker’s battery materials operations. The transaction qualifies as a discloseable transaction under Hong Kong listing rules, requiring reporting and announcement but not shareholder approval, and is expected to deepen Tsaker’s industrial collaboration while strengthening its presence in the battery materials market.
More about Tsaker New Energy Tech Co., Limited
Tsaker New Energy Tech Co., Limited operates in the new energy materials sector, with a strong focus on battery materials such as iron phosphate. Through its subsidiaries, the group is involved in research, development, production and sales of electronic specialty materials and chemical products, aiming to strengthen its position in the fast-growing lithium battery supply chain.
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Current Market Cap: HK$915M
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