Zhenyu Science and Technology plans to invest no more than 1.6 billion yuan in the construction of 900 million pieces of new energy power lithium battery top cover project.

Zhenyu Technology (300953) (300953.SZ) issued an announcement that on the same day, the company announced that it planned to spend no more than 70 million yuan to buy Ningdong 20Muk land in the coastal economic development zone in the south of Ningbo. based on the fact that after the company won the land use rights of the above-mentioned plots, the company planned to use its own or self-raised funds to build a new 900 million new energy power lithium battery cover project on the above-mentioned land. The total investment of the project is expected to be no more than 1.6 billion yuan (including the purchase of land use rights not exceeding 70 million yuan mentioned above).

The construction period of the project is about 36 months. the purpose of this investment is to improve the production capacity of the company in the field of precision structure manufacturing of power lithium battery, expand effective production capacity, and better meet the needs of customers' production capacity. enhance the company's market share and brand influence.