GAC Group Sells Lithium Stake for 1.92 Billion Yuan
GAC Group's subsidiary Youpai Energy Technology is divesting a 12% stake in Xinjiang Kunlun Lanzuan Mining for 1.92 billion yuan. This transaction, categorized as a related-party deal, is expected to enhance GAC's net profit for 2026.
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GAC Group's subsidiary, Youpai Energy Technology, will sell a 12% stake in Xinjiang Kunlun Lanzuan Mining Development to its controlling shareholder for around 1.92 billion yuan. Following the transaction, Youpai Energy's ownership in Kunlun Lanzuan will decrease from 20% to 8%, diminishing its influence over the mining operation.
The payment for this related-party transaction will occur in installments as per the agreement's terms. GAC anticipates that this sale will positively impact its consolidated net profit for 2026, pending annual audit outcomes. Relevant updates will be provided as required by regulatory authorities.
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