Zongshen Power and Lithium Valley Merger Agreement

May 24th, Zongshen Power and Lithium Valley Co., Ltd. officially signed a merger agreement, marking another significant M&A project in the energy storage industry. The signing ceremony took place at the Lithium Valley facility and was attended by Chairman Zuo Zongshen of Zongshen Industry Group, Executive Director Gao Shaoheng of Lithium Valley, and Deputy Secretary-General Zeng Ming of the Dongguan Municipal Government, among other distinguished leaders.

Zongshen Power, as one of China's top 500 manufacturing companies, has achieved tremendous success in the traditional fuel sector since its establishment in 1982 and has successfully transitioned into the clean energy field. As a global leader in new energy technology, Zongshen Power has been dedicated to the research and production of high-efficiency energy storage systems, gaining significant market recognition.

Lithium Valley is a high-tech enterprise specializing in the field of energy storage. As an industry frontrunner, Lithium Valley has made remarkable achievements in the research, production, and sales of energy storage systems. The company is committed to providing efficient and reliable energy storage solutions for various applications, driving the widespread adoption of clean energy and energy transformation.

According to the agreement, Zongshen Power will become the controlling shareholder of Lithium Valley, marking a crucial step for Lithium Valley in the energy storage field. This collaboration will bring significant strategic advantages and enhance market competitiveness.

During the signing ceremony, Ms. Xu Ting, Deputy General Manager of Lithium Valley, introduced the attendees, including senior management from both companies and relevant government officials. Guest speakers expressed their vision and confidence in the merger and acquisition cooperation.

Chairman Zuo Zongshen of Zongshen Group emphasized the strong alignment between Zongshen Power and Lithium Valley in future development vision and strategic planning. He pointed out that this merger and acquisition collaboration is not only an opportunity but also a challenging task for both parties to face together. Chairman Zuo further highlighted that Zongshen Power will leverage its expertise in clean energy technology, working closely with Lithium Valley to jointly create more outstanding energy solutions.

Zongshen Power and Lithium Valley are highly complementary in the energy storage business, and the merger will generate strong synergies. Both sides will fully leverage their respective strengths, strengthen cooperation and communication, expand the new energy industry chain, accelerate technological research and independent innovation, promote the sharing and application of technological achievements, establish an innovative industrial base, and cultivate a team of professionals with an international perspective. This will actively contribute to the development of clean energy and accelerate the rise of China's clean energy industry.

Lithium Valley will take this merger as an opportunity to integrate internal and external resources, optimize management structures, deepen internal integration, and work hand in hand with Zongshen Power to embark on a new journey in the energy storage industry. We firmly believe that with the joint efforts of both parties, Lithium Valley will become a leading enterprise in the energy storage field and make significant contributions to the development of the clean energy industry.