YTH plans to invest CNY 80.85 million to support its affiliated company in advancing the lithium iron phosphate project
Yunnan YTH Co., Ltd. announced that it plans to provide financial assistance of 80.85 million yuan to its 49%-owned subsidiary, Yunnan YouTian New Energy Technology Co., Ltd., for a period of 1 year, with the interest rate calculated based on the one-year LPR on the actual loan disbursement date, to be used for paying project costs, equipment costs, etc. This matter has been approved by the fourth meeting of the tenth board of directors of the company and is subject to review by the shareholders' meeting. YouTian New Energy is constructing a 100,000 tons/year lithium iron phosphate project in phase one, and both shareholders will provide a total loan of 165 million yuan according to their shareholding ratios. YTH stated that this financial assistance will not have a significant impact on the company's normal production and operations and will accelerate the project construction of the subsidiary. Currently, the cumulative financial assistance provided by the company to entities outside the consolidated financial statements amounts to 157.85 million yuan, accounting for 0.64% of the most recent audited net assets, with no overdue amounts unrecovered
