Understanding lithium demand, page-379

I don’t think a 9.47% stake from a non state owned enterprise can be deedmed as "control". Huayou has a similar stake at another ASX company owning a cobalt & copper deposit in DRC. But another Chinese company launched a takeover bid for NZC. If a stake held by Huayou at NZC were deedmed as Control, why would another Chinese company need to launch a takeover bid???

Furthermore, if Manono lithium resources were also contolled by Chinese, why would CATL need to muck around Manono and invest in AVZ's neighbour?

It's a basic concept of control, imo.