Yongxing material plans to invest nearly 1 billion yuan in ultra-long-life lithium battery project.

Recently, Yongxing Special Materials Technology Co., Ltd. (hereinafter referred to as "the Company" or "Yongxing Materials") agreed to invest in the construction of an ultra-wide temperature zone and long-life lithium-ion battery project with its own funds or self-raised funds to the holding subsidiary Huzhou New Energy Co., Ltd. (hereinafter referred to as "Huzhou New Energy") and increase capital to the holding subsidiary Huzhou New Energy.

Huzhou New Energy is the main platform for the company's lithium power new energy business to extend from lithium salt materials to battery manufacturing, and plans to invest in the construction of 2GWh/a ultra-wide temperature zone ultra-long-life lithium-ion battery project, with a total investment of about 1 billion yuan; the first phase invests in the construction of 0.2GWh/a ultra-wide temperature zone ultra-long-life lithium-ion battery project, with an investment of 279.9 million yuan.

Huzhou New Energy is a subsidiary of Yongxing material holding Company, with a registered capital of 10 million yuan, of which the company contributed 7 million yuan in monetary capital, accounting for 70% of the registered capital. Ningbo Meishan Free Trade Port Litai Enterprise Management Partnership (limited partnership) contributed 3 million yuan in monetary capital, accounting for 30% of the registered capital. The company will invest in Huzhou New Energy to build an ultra-wide temperature zone and ultra-long-life battery project. In order to effectively protect the capital, technology, talents and other factors needed for the construction and operation of the project, the company and Litai partnered to increase the capital of Huzhou New Energy according to their respective shareholding proportions, of which the company increased its capital by 98 million yuan with monetary funds. Litai enterprise partnership increased capital by 42 million yuan with monetary funds or intellectual property rights. After the completion of the capital increase, the registered capital of Huzhou New Energy will increase from 10 million yuan to 150 million yuan, and the proportion of shareholders will remain unchanged.

After the ultra-wide temperature zone ultra-long-life lithium-ion battery project is completed and put into production, the company's lithium new energy business will stride from the preparation of raw materials upstream to the core field of downstream lithium-ion battery manufacturing, greatly extending the industrial chain in the field of new energy and realizing new great-leap-forward development. At the same time, the manufacturing of downstream products can promote the research and development and quality of lithium salt products, enhance the overall core competitiveness, and build the company into a comprehensive development, utilization and processing of lithium ore resources. and lithium-ion battery research and development, manufacturing and sales as the core business of the new energy industry leader. In addition, ultra-wide temperature range ultra-long-life lithium-ion battery can meet the needs of more application scenarios, speed up the popularization of lithium-ion battery, and make its own contribution to the development of lithium-ion new energy industry.