Greenbeauty: the subsidiary plans to invest 528 million yuan in the high-value recycling project of new energy.

SMM News: recently, the company's wholly-owned subsidiary Green Mei (Wuxi) Energy Materials Co., Ltd. (hereinafter referred to as "Wuxi Greenmei" or "Party B") and Wuxi Airport Economic Development Zone Management Committee (hereinafter referred to as "Wuxi Airport Economic Development Zone Management Committee" or "Party A") signed investment in new energy high-value recycling projects.

The project invests 528 million yuan to form an industrial scale of high-value recycling of 100000 new energy vehicles per year, high-value recycling of 100000 sets of power battery packs per year, and a research and development platform for an engineering research center for high-value utilization of power batteries and new energy vehicles in Jiangsu Province. to build an industrial demonstration base and engineering technology research center for green recycling of power batteries and new energy vehicles in Jiangsu Province. It has become the world's advanced recycling and green disposal center for power batteries and new energy vehicles. Party B plans to start construction of the project before October 2020 and is expected to be completed and put into production by September 2022.

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