Xiangtan Electric and Chemical shareholding Co., Ltd. Hunan Yuneng plans to build iron phosphate and lithium iron phosphate projects.

On June 25, 002125.SZ announced that Hunan Yuneng New Energy Battery Materials Co., Ltd. (referred to as Hunan Yuneng) will invest in projects in Fuquan City, Guizhou Province and Anning City, Yunnan Province in the near future. Project 1: annual production of 300000 tons of iron phosphate and 300000 tons of lithium iron phosphate, the total investment of the project is expected to be 7 billion yuan; Project 2: annual output of 350000 tons of iron phosphate and 350000 tons of lithium iron phosphate, with a total investment of 10 billion yuan.

Hunan Yuneng plans to invest in two new production bases through the above two projects, which will help it seize the market opportunity to expand its production capacity, enhance its supply capacity of lithium iron phosphate products, and meet customer demand.