Greenbeauty: subordinate companies plan to build circular economy industrial projects with ternary precursors, cobalt tetroxide and matching nickel, cobalt, manganese and lithium raw materials.

Greenbeauty announced that the company's wholly-owned subsidiary, Greenbeauty (Jiangsu), and Taixing Economic Development District Management Committee signed an investment agreement on the circular economy industry project of ternary precursors, cobalt tetroxide and supporting nickel, cobalt, manganese and lithium raw materials, with an investment of 1.8 billion yuan. Dominated by scrapped battery raw materials, the circular economy model is adopted. To form a multi-component precursor for lithium battery with an annual output of 30,000 tons, a high-performance cobalt tetroxide of 10,000 tons, an annual output of 25000 tons of high-purity nickel, cobalt-manganese raw materials and 3000 tons of lithium phosphate raw materials, and a by-product of 50,000 tons of anhydrous sodium sulfate. it is expected to complete the construction of 30,000 tons of multi-component precursors for lithium batteries by June 2022, and all projects will be completed in December 2023.

After the completion of this project, the Taixing Park of the company will have an annual output of 30,000 tons of ternary precursors, 20,000 tons of cobalt tetroxide, 5000 tons of lithium cobalt oxide, 2000 tons of cobalt sheets, 25000 tons of high-purity nickel, cobalt and manganese raw materials, and 3000 tons of lithium phosphate raw materials. the annual output value of the park will reach more than 10 billion. At the same time, the subsidiary company and Wuxi Airport Economic Development Zone signed Wuxi power battery low-carbon cycle project capital cooperation. In order to repay the pledged loans and reduce the pledge rate, the controlling shareholders and concerted actors and some senior executives plan to reduce their holdings of no more than 1.5% of the total shares in the company by means of centralized bidding or bulk trading.