CATL chairman Zeng donates $291 million to alma mater Shanghai Jiao Tong University

(ECNS) - Robin Zeng Yuqun, chairman of Contemporary Amperex Technology (CATL), the world's largest battery maker, has donated shares worth more than 2 billion yuan ($291 million) to Shanghai Jiao Tong University, marking one of the largest gifts in the university's history, according to a company filing.

The donation, announced on Monday, involves 5 million A-shares, with all proceeds to be directed to an education fund supporting the university's development.

Based on the closing share price on March 31, the donation's value exceeds 2 billion yuan, setting a new record for the university, according to Chinese media reports.

Zeng, a 1989 graduate in marine engineering, has maintained close ties with his alma mater and has been a major donor in recent years.

In 2021, CATL disclosed that a related entity planned to donate 2 million shares to the university, valued at about 1.4 billion yuan at the time.

CATL said Zeng's cumulative donations to the university have exceeded 3.4 billion yuan over the past six years.

Beyond financial support, Zeng has promoted academic collaboration between CATL and the university, including research in clean energy technologies, and has held an honorary role at its Future Technology Institute.

The latest donation came as Shanghai Jiao Tong University marks its 130th anniversary this year.

(By Zhang Jiahao)