According to Gamingdeputy news on February 9, CATL announced on the evening of February 8 that it received notices from the company’s actual controllers Zeng Yuqun and Li Ping, and the two parties unanimously signed the “Termination Agreement of the Persons Acting in Concert Agreement” after consultation. It was decided to terminate the “Concert Acting Persons Agreement” signed by both parties on October 23, 2015.
Gamingdeputy learned from the announcement that after Zeng Yuqun and Li Ping terminated their concerted action relationship,The actual controller of the company was changed from Zeng Yuqun and Li Ping to Zeng Yuqun. This time Zeng Yuqun and Li Pingjun are not involved in the reduction of shareholdings.
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Ningde Times stated that Zeng Yuqun and Li Ping reached an agreement through friendly consultations and decided to terminate the relationship between persons acting in concert. This move is to better adapt to changes in the internal and external environment, further improve the company's decision-making mechanism, and promote the sustainable development of the company's business.
Before the concerted action relationship was terminated, Zeng Yuqun served as the company's chairman and general manager, and indirectly held 23.29% of the shares of CATL through Xiamen Ruiting, making him the company's largest shareholder; Li Ping served as the company's vice chairman, accounting for 10% of the company's shares. 4.58% of the current total share capital;The two parties jointly control 27.87% of the company's current total share capital.
After the termination of the concerted action relationship, Zeng Yuqun and Li Ping's employment status in the company has not changed, nor has the number of company shares each directly or indirectly held.
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Official disclosure of the background of the signing of the “Concerted Acting Persons Agreement”:
Due to their mutual optimism about the development prospects of the power battery business, Xiamen Ruiting Investment Co., Ltd. (hereinafter referred to as “Xiamen Ruiting”) controlled by Mr. Zeng Yuqun and Ningde Yongjia Investment Co., Ltd. (hereinafter referred to as “Yongjia Investment”) controlled by Mr. Li Ping In October 2012, they jointly increased capital of the company's predecessor, CATL New Energy Technology Co., Ltd. (hereinafter referred to as “CATL Co., Ltd.”). In the early stage of the company's development, considering that Mr. Zeng Yuqun, as a leader in the lithium battery industry, has accumulated rich experience in the production, operation and management of lithium-ion battery companies, and has a deep understanding of the lithium battery industry; Mr. Li Ping has rich experience in investment, entrepreneurship, management With experience in market development and extensive network of contacts and deep industry resources, we are a reliable partner.With complementary backgrounds, the establishment of a concerted action relationship between the two parties is conducive to giving full play to their respective advantages, promoting the development of the company's power battery business, enhancing control over the company and ensuring unified business decision-making.
Based on the above background, Xiamen Ruiting controlled by Mr. Zeng Yuqun and Yongjia Investment controlled by Mr. Li Ping jointly signed the “Concert Acting Persons Agreement” in January 2013. In October 2015, as Yongjia Investment transferred its equity in the company to Mr. Li Ping, Mr. Zeng Yuqun and Mr. Li Ping jointly signed the “Concert Acting Persons Agreement” on October 23, 2015.It is agreed that both parties shall maintain unanimous opinions when exercising their rights to propose proposals, nominations, voting rights, etc. directly or indirectly to the general meeting of shareholders and the board of directors in the company's daily production and operation and other major decision-making matters. If there is still any disagreement after full consultation between the two parties, If there are different opinions, both parties agree that the opinion of Mr. Zeng Yuqun shall prevail., this agreement shall terminate from the date when either party no longer directly or indirectly holds shares of the company, and shall not be unilaterally terminated or revoked by either party. For matters not covered in this agreement, both parties may sign a written supplementary agreement.