Ganfeng Lithium Group Co., Ltd. (Ganfeng Lithium) will seek shareholder approval at its 2025 annual general meeting on 20 May 2026 for a special resolution authorising a guarantee of up to RMB2.30 billion for joint-venture subsidiary Luyuan Mining Investment (Hong Kong) Co., Ltd. (Hong Kong Luyuan).
The updated mandate expands the guarantee’s scope beyond bank loans to cover credit facilities, financial leasing, construction-period obligations and day-to-day operational needs. Forms of support may include credit guarantees, mortgages, pledges or any combination thereof. The cap of RMB2.30 billion remains unchanged and the quota can be used on a revolving basis for 12 months from the date of shareholder approval.
Hong Kong Luyuan, incorporated in August 2024, is 100 percent owned by Shenzhen Luyuan Mining Investment Co., Ltd., in which Ganfeng Lithium holds a 50 percent stake. The Hong Kong entity is developing the Mboukoumassi potassic-salt project in Congo (Brazzaville), designed for 2 million tpy of KCl and 40,000 tpy of bromine, with full commissioning targeted for 2027.
Financial snapshot for Hong Kong Luyuan (unaudited): • Total assets: RMB0.04 million at 31 Dec 2025; RMB0.76 million at 31 Mar 2026 • Net assets: –RMB0.01 million at 31 Dec 2025; RMB0.03 million at 31 Mar 2026 • Gearing ratio: 95.86 percent at 31 Mar 2026
Other shareholders of Shenzhen Luyuan will provide counter-guarantees to Ganfeng Lithium in proportion to their equity stakes.
The board states that the facility will accelerate development of the Congo project, reinforce upstream resource integration and is within manageable risk levels. As the highest applicable percentage ratio under Chapter 14 of the Hong Kong Listing Rules is below 5 percent, the transaction does not constitute a notifiable transaction.
The special resolution requires at least two-thirds majority approval by poll. No shareholders are required to abstain from voting.
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