SMM January 27th: Jiangsu Cathay Pacific announced that its holding subsidiary Ruitai New Materials Co., Ltd. plans to set up a wholly owned subsidiary Quzhou Ruitai New Energy Materials Co., Ltd., with an annual production capacity of 300000 tons of lithium-ion battery electrolyte, with a total investment of 1.51 billion yuan. According to the announcement, the construction period of the project is 24 months, and it is expected to achieve an average annual net profit of 560 million yuan per year after reaching production.
Public data show that Ruitai new materials, relying on its advantages in capital, technology and talents, is in a dominant position in the field of domestic lithium-ion battery electrolytes. It is a well-known comprehensive manufacturer of lithium battery electrolytes, electrolytes and additives in China and even in the world. The construction of this project is in line with Ruitai's new materials development strategy, which is beneficial for the company to maintain its market share and enhance its competitiveness.
It is worth mentioning that as early as December 2021, Ruitai New Materials and Huarong Chemical planned to jointly invest 1.146 billion yuan to build an annual capacity of 260000 tons of lithium-ion battery electrolyte project. Subordinate company Ningde Huarong plans to invest in the construction of an annual lithium-ion battery electrolyte project with an annual output of 400000 tons, with a total investment of 1.538 billion yuan. Huarong Chemical plans to increase its investment in Ningde Huarong with its own or self-raised capital of 500 million yuan at the price of 1 yuan per yuan.
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