LNE Technology Co. Completes First Round of Financing, Led by China Merchants Capital

(hereinafter referred to as "LNE Technology") completed the first round of financing, which was led by China Merchants Capital. This round of financing was led by China Merchants Capital. The financing will be mainly used for the construction of production lines and the development of new material systems.

The company mainly produces lithium iron phosphate high-capacity polymer solid-state batteries and ternary high-capacity polymer solid-state batteries. Lithium iron phosphate high-capacity polymer solid-state batteries will be mainly used in large commercial vehicles, ships and energy storage field, ternary high-capacity polymer solid-state batteries will be mainly used in passenger cars and 3C digital field.

The high-capacity polymer solid-state battery developed and produced by the company is a new type of battery using polymer electrolyte, which has the advantages of large capacity, high performance, low internal resistance, good low-temperature performance, low comprehensive PACK cost and high safety performance.

The success of this round of financing represents the high recognition and strong confidence of the investment institutions in Lead New Energy's technological accumulation, forward-looking R&D layout and business model in the field of high-capacity polymer solid-state batteries.

Along with the successful completion of this round of financing and the imminent commissioning of the first phase of the construction project, the company will step into a brand new stage of development.

Note: Founded in January 2012, China Merchants Capital Investment Company Limited (CMCI) is a member of China Merchants Group specializing in alternative investment and management business, with its registered office and domestic operation headquarter located in Shenzhen and international operation headquarter in Hong Kong.