Yiwei Lithium Energy: Jiangsu Yiwei Linyang annual 10GWh energy storage battery project officially launched

On June 30th, Yiwei LiNeng (300014) announced that the opening ceremony of Jiangsu Yiwei Linyang Energy Storage Technology Co., Ltd. (hereinafter referred to as "Yiwei Linyang") was officially held in Qidong, Jiangsu Province.

Yiwei Linyang is funded by Hubei Yiwei Power Co., Ltd., a wholly owned subsidiary of Yiwei Lithium Energy Co., Ltd. (hereinafter referred to as "Yiwei Power") and Jiangsu Linyang Energy Co., Ltd. (hereinafter referred to as "Linyang Energy"). It will invest no more than 3 billion yuan to build an energy storage battery project with an annual production capacity of 10GWh.

The registered capital of Yiwei Linyang is RMB100m, of which Yiwei Power contributed 65 million yuan in currency, accounting for 65% of the shares in the joint venture company, while Linyang Energy contributed 35 million yuan in currency, accounting for 35% of the shares in the joint venture company. According to the progress of the project, both parties will increase the registered capital to 500 million yuan according to their respective shareholding ratio.

In terms of energy storage batteries, according to a research report released by Western Securities, Yiwei Lithium Energy won the bid for China Mobile lithium iron phosphate battery procurement project in 2020, with a winning share of 13.04%. In 2020, the company's domestic electrochemical energy storage installed more than 300MWH, ranking fourth. In addition, Yiwei LiNeng overseas companies explore the Southeast Asian market, while opening up high-end communications energy storage markets in Europe and the United States. Energy storage battery business in addition to receiving base station orders, there are wind power photovoltaic energy storage power station business, there have been projects on the ground. The company has developed a special battery for energy storage, and the gross profit margin is expected to rise steadily in the future.