Longbai Group plans to build a joint venture to build 100000 tons of iron phosphate production line to continuously generate new energy and new materials.

On the evening of July 25th, Longbai Group (002601) announced that the 23rd meeting of the Seventh Board of Directors of the company had examined and passed the proposal on establishing a joint venture with Hubei Wanrun New Energy to build a 100000-ton iron phosphate production line.

With the promotion of new energy technology, the application market of lithium iron phosphate battery is growing rapidly, and the precursor iron phosphate market of lithium iron phosphate has a broad prospect. at the same time, Hubei Wanrun New Energy Technology Co., Ltd. (hereinafter referred to as "Hubei Wanrun New Energy") has the advantages of iron phosphate industrialization, technology and market, in order to seize the opportunity of the new energy market and improve the added value of the company's by-products such as ferrous sulfate heptahydrate, Henan Bailey New Energy Materials Co., Ltd. (hereinafter referred to as "Bailey New Energy"), a subsidiary of the company, plans to set up a joint venture with Hubei Wanrun New Energy to build a 100000-ton iron phosphate production line.

According to the announcement, the registered capital of Hubei Baili Wanrun New Energy Co., Ltd. (provisional name) is 100 million yuan, Bailey New Energy subscribed registered capital is 51 million yuan, and Hubei Wanrun New Energy subscribed registered capital is 49 million yuan. Both parties contributed in cash.

Longbai Group said that iron phosphate as the core raw material for the production of lithium iron phosphate, there is a gap in iron phosphate production capacity due to the rapid increase in demand and production capacity of lithium iron phosphate. The implementation of this project is to expand the production capacity of the company to meet the market demand for iron phosphate in the future. after the completion of the project, it will help the company to seize the opportunity of market development, expand the scale of production and operation, and improve market competitiveness.

Battery Network noted that on July 6 this year, Longbai Group completed the registration procedures for industrial and commercial change of registered capital and company name, and obtained the business license issued by Jiaozuo Market Supervision Administration. Longbai Group extends from titanium dioxide business to sponge titanium and high-end titanium alloys, and actively expands titanium derivatives such as "vanadium, zirconium, iron, scandium, cobalt" and emerging industries such as intelligent manufacturing and new energy materials. in order to guide investors to accurately understand the company's business and strategy, the Chinese name of the company has been changed from "Longpang Bailian Group Co., Ltd." to "Longbai Group Co., Ltd.".

Due to the continued prosperity of the titanium dioxide market, a few days ago, Longbai Group estimated that the net profit attributed to shareholders of listed companies in the first half of this year would reach 2.327 billion yuan to 2.973 billion yuan, an increase of 80 percent over the same period last year, and basic earnings per share would be 1.04 yuan per share-1.33 yuan per share. In addition to the rise in performance, the company continued to announce new actions in the first half of this year:

On March 24th, Bailey New Energy, a wholly-owned subsidiary of Longbai Group, plans to acquire 100% stake in China carbon New Materials held by Zhongzhou carbon Co., Ltd. in Jiaozuo City in cash at a transaction price of 292 million. After the completion of this acquisition, the company will make use of the advantages of new carbon materials in talent and technology to enter the graphite negative electrode industry, officially enter the field of new energy, and prepare for the coordinated development of R & D and production of positive and negative materials for new energy batteries.

On February 27th, the Qinyang municipal government and Longbai Group held a signing ceremony, and the Longbai New Energy Battery material Industry Park project with a total investment of 2 billion yuan was settled in Qinyang. The project plans to build a new energy battery material project with an annual output of 150000 tons, which will be built in three phases. after reaching the production standards in an all-round way, the annual sales income will exceed 3 billion yuan, tax payment will reach 110 million yuan, and more than 1000 people will be employed.

On February 18, according to the needs of the company's business and strategic development, in order to speed up the implementation of innovation-driven green development strategy, the company's wholly-owned subsidiary, Bailey New Energy, plans to invest 300 million yuan to establish Henan Longbai New Materials Technology Co., Ltd. in Qinyang City, Henan Province. The joint venture company is mainly engaged in battery manufacturing, battery sales, research and development of electronic special materials, manufacturing of electronic special materials, sales of electronic special materials, recycling of waste power batteries for new energy vehicles (excluding hazardous waste management), etc.