Invested 245 million shares 49% BYD co-founded a new company in Qinghai

On March 15th, BYD Co., Ltd. released an announcement on the progress of cooperation with the new company. The announcement shows that in order to secure the lithium battery requirements for the upstream raw material lithium carbonate in the strategic goal of the new energy industry, the BYD advantage will be closely integrated with the salt lake lithium resource. BYD will cooperate with Qinghai Salt Lake Industry Co., Ltd. and Shenzhen Zhuo Yucheng Investment Co., Ltd. The company established the "Qinghai BYD Divine Resources Development Co., Ltd.".

The new company completed business registration on January 3, 2017 and obtained a business license issued by the administrative department for industry and commerce. For details, please refer to the “Notice on the Progress of Cooperatively Establishing a New Company” by CNINFO (Announcement No. 2017- 002).

The new company’s registered capital of RMB 50,000 million was invested by shareholders in cash. Among them, BYD holds 49% of shares, cash contributes RMB 245 million, Qinghai Salt Lake Industry Co., Ltd. holds 49.5% of shares, and cash contributes RMB 24,750. Ten thousand yuan, Shenzhen Zhuo Yucheng Investment Co., Ltd. holds 1.5% of the shares, and its cash contribution is 7.5 million yuan.