Ximei Resources announced on May 19 that it signed a framework share subscription agreement with GFL Investment (Hong Kong) Limited, a wholly-owned subsidiary of Ganfeng Lithium, aiming to introduce Ganfeng Lithium as a strategic investor. GFL Investment will subscribe 60 million shares of private placement at HKD4 per share for a total amount of HKD240 million, accounting for 16.7% of the total shares of this round of private placement, and then become the second largest shareholder of Ximei Resources. The capital raised will be used as supplement working capital and fixed asset investment.

Ximei Resources is trying to be the world's leading tantalum-niobium manufacturer to achieve the integrated development of tantalum-niobium industry, while Ganfeng Lithium is also the leading enterprise in the same industry. The cooperation of the two enterprises is conducive to ensuring the stable supply of raw material, further expanding production scale and industrial chains. In addition to the equity cooperation, both parties would further discuss cooperation in mineral resource development and smelting technology so as to establish long-term and steady strategic cooperative relationship.