On the evening of May 27, Zhuhai CosMX Battery Co., Ltd. announced plans to increase its investment in its shareholding company, Guangdong National Institute of New Energy Storage Co., Ltd., by an amount not exceeding 14.6848 million yuan. This investment will be used to subscribe to 4 million yuan of the institute's newly added registered capital. The move aims to optimize Zhuhai CosMX's industrial layout and enhance its core competitiveness in the emerging energy storage sector.
Currently, Zhuhai CosMX holds a 14% equity stake in the institute. Upon completion of this capital increase, the registered capital corresponding to the company's shareholding will increase from 28 million yuan to 32 million yuan. However, because the institute is simultaneously bringing in other new investors, Zhuhai CosMX's overall shareholding percentage will decrease from 14% to 11.05%.
It is reported that the institute, established in April 2023, serves as the primary business entity of the National Innovation Center for Advanced Energy Storage. It focuses its research and development on high-capacity, highly safe, long-lifespan, and highly efficient energy storage equipment and technologies. Its primary goal is to build an integrated innovation platform encompassing "R&D, testing, pilot production, and empirical demonstration."
Regarding the use of the additional funds, Zhuhai CosMX stated that they will primarily be allocated toward the target company's core business development, capital expenditures, required general working capital, or other purposes explicitly approved in writing by the shareholders involved in this funding round.
Source：EnergyTrend