Xiamen Tungsten New Energy plans to launch Kechuang Board to raise 1.5 billion yuan to expand the production of cathode materials

Published: Aug 6, 2020 17:00

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According to the public information, Xiamen Tungsten New Energy is mainly engaged in the research and development, production and sales of cathode materials for lithium-ion batteries. At present, the main products are lithium cobalt oxide, nickel-cobalt-manganese ternary materials and so on. The company, formerly known as the Battery Materials Division of Xiamen Tungsten Industry, began to focus on the R & D and production of cathode materials for lithium-ion batteries since 2004, and set up a new company to operate independently in December 2016. It has become a subsidiary of Xiamen tungsten industry specializing in the R & D, production and sales of cathode materials for lithium-ion batteries.

According to the data of China Chemical and physical Power Industry Association, in 2018 and 2019, Xiamen tungsten new energy lithium cobalt oxide cathode materials ranked first in China's lithium cobalt cathode materials industry, and in 2018 and 2019, the company's NCM ternary materials production, sales and market share ranked among the top five in China's NCM ternary materials industry. In 2019, the company's overall production, sales and market share of cathode materials for lithium-ion batteries continue to rank first in China's lithium-ion battery cathode materials industry.

In the field of power lithium battery, the company has established stable cooperative relations with well-known battery companies such as Panasonic, BYD, Ningde Times, AVIC Lithium, Yiwei Lithium Energy and Guoxuan Hi-Tech.

It is understood that Xiamen Tungsten New Energy 40, 000 tons of lithium-ion battery material project has a total investment of 1.848 billion yuan, and plans to raise 900 million yuan. "after the completion of the first and second phases of the project, a production line with an annual capacity of 20000 tons of cathode materials for lithium-ion batteries will be formed. the main products are high-nickel NCM ternary materials, including Ni6 series and above high-nickel NCM ternary materials (with a nickel content of more than 60%), covering the mainstream high-nickel NCM products in the market."

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