Pino Becomes Largest Shareholder of C&P Advanced Materials Technology

Pino has acquired 1,405,752 shares of C&P Advanced Materials Technology (C&P Advanced Materials) for 28.2 billion won, becoming its largest shareholder.

According to Pino on June 11, this transaction was carried out by acquiring the stake from an existing shareholder, CNGR Hong Kong. Through this acquisition of existing shares, Pino's stake in C&P Advanced Materials has increased from 29% to 75%. The stake held by the former largest shareholder, CNGR Hong Kong, has decreased from 51% to 5%, while POSCO Future M maintains its existing 20% stake. The payment for the transaction is scheduled to be made on the 16th.

C&P Advanced Materials is a joint venture established as a dedicated production base for lithium iron phosphate (LFP) cathode materials, jointly founded by CNGR, the world's leading precursor company, and POSCO Future M. By becoming the largest shareholder, Pino has secured strategic leadership in the domestic LFP cathode material production business. The C&P Advanced Materials entity will be included in Pino's consolidated financial statements going forward, and its performance will be meaningfully reflected in the results.

A Pino official stated, "As the largest shareholder of C&P Advanced Materials, we will directly lead the LFP cathode material business and further strengthen collaboration with our partners." The official continued, "With this share acquisition, we will begin to enhance our business execution capabilities as a specialized secondary battery material company. We will proactively respond to the growing demand in the global LFP battery market and secure a stable supply chain by establishing a domestic production base."

This content was produced with the assistance of AI translation services.