Ganfeng Lithium (SHE:002460, HKG:1772) said its board approved a proposal for an investment of 200 million yuan in Luoteng (Hangzhou) Equity Investment Partnership.
The investment aims to expand Ganfeng Lithium's lithium storage business and enhance its presence in the overseas energy storage market, according to a Wednesday filing with the Shenzhen bourse.
Shares of the lithium producer slipped 3% in recent trade on the Shenzhen and Hong Kong bourses.
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