Ganfeng Lithium Group Co. Ltd.

Ganfeng Lithium Group Co. Ltd. is a senior lithium producer headquartered in Xinyu, China, operating primarily in South America and China. The company's portfolio consists of 6 projects, comprising 3 operating mines and 3 development projects. Key assets include Cauchari-Olaroz, Mount Marion, Goulamina, and Mariana. The company operates as a vertically integrated lithium ecological enterprise, managing a comprehensive value chain from upstream resource development to midstream processing and downstream battery manufacturing and recycling. Its business model is designed to gather market intelligence, develop proprietary technologies, and create operational synergies across its business segments to enhance efficiency and profitability. The organization offers one of the industry's most extensive product suites, with over 40 lithium compounds and metal products across 5 major categories, addressing diverse customer needs in sectors such as electric vehicles, aerospace, and pharmaceuticals. A key differentiator is its early and significant investment in next-generation battery technology, including the in-house development and production of advanced materials like oxide and sulfide electrolytes for solid-state batteries. This technological focus is complemented by a robust recycling operation that provides a sustainable, closed-loop solution for key metals, further strengthening its integrated ecosystem.

Strategic priorities are centered on consolidating its position as a leading lithium ecological enterprise through a multi-faceted approach. A core objective is to secure and expand a diversified, low-cost global resource base by advancing existing projects and exploring new acquisition opportunities, with an emphasis on increasing the self-sufficiency rate. The organization plans a significant expansion of its midstream processing capacity, aiming to establish a total lithium product supply capability of no less than 600,000 tons of LCE annually by 2030, encompassing various extraction methods. Technological innovation remains a key pillar, with a focus on accelerating the research, development, and commercialization of high-value products, particularly solid-state batteries and their core components like lithium metal anodes. The strategy also involves aggressively growing the lithium battery recycling business by expanding its network, enhancing dismantling efficiency, and developing intelligent, low-carbon production lines. To deepen customer relationships, the enterprise aims to function as an integrated solutions provider, leveraging its vertical structure to offer a stable and comprehensive supply chain.

Governance is structured around a 10-member Board of Directors, comprising 4 executive, 2 non-executive, and 4 independent non-executive directors, ensuring a balance of internal expertise and external oversight. The Chairman, Li Liangbin, is the company's founder and largest shareholder, responsible for guiding overall business strategy and operational management. The President, Wang Xiaoshen, oversees the company's comprehensive daily work, with a particular focus on overseas business and investment. Board oversight is facilitated through 5 specialized committees: Audit, Remuneration, Nomination, Strategy, and Sustainable Development, with key committees chaired by independent directors to ensure impartiality. The company utilizes multiple equity-based incentive mechanisms, including share option schemes and an employee stock ownership plan, to align the interests of management and employees with those of shareholders. This governance framework is designed to support long-term strategic execution while maintaining robust internal controls and accountability.

The organization's sustainability approach is embedded in its vertically integrated business model, with a core focus on creating a closed-loop industrial ecosystem. A key initiative is the comprehensive recycling business, which recovers valuable metals from decommissioned batteries, thereby promoting resource circularity and reducing reliance on primary extraction. The company is committed to advancing its recycling capabilities by developing intelligent, safe, and low-carbon production lines to enhance efficiency and explore the added value of recycled products. Governance of sustainability is overseen by a dedicated Sustainable Development Committee, chaired by the President, which is tasked with formulating strategic goals and supervising their implementation across all business segments. Strategic priorities include strengthening ESG governance capabilities, introducing additional renewable energy sources into its operations, and increasing support for surrounding communities to foster positive local relationships and ensure long-term operational stability.

The corporate structure is defined by its vertical integration across the lithium value chain, supported by strategic investments and ownership arrangements. In 2024, the organization expanded its upstream control by agreeing to acquire the remaining 40% equity in Mali Lithium B.V., making it an indirect wholly-owned subsidiary. The company also subscribed for a 14.8% equity interest in Proyecto Pastos Grandes S.A. to further secure resource access. A significant structural adjustment involved an agreement to transfer a 35% equity interest in its subsidiary Lithium du Mali SA to the government of Mali, aligning with local partnership objectives. The company utilizes an Employee Stock Ownership Plan, purchasing its own A-shares from the secondary market to facilitate employee equity participation, rather than issuing new shares.