Yuntianhua plans to set up a subsidiary in 1 billion to promote the 500000 t / an iron phosphate battery new material precursor project.

On the evening of November 26th, Yuntianhua (600096) announced that in order to speed up the construction of 500000 tons / year iron phosphate battery new material precursors and supporting projects, the company plans to invest in the Caopu Chemical Park of Anning Industrial Park in Yunnan Province to set up a wholly-owned subsidiary Yunnan Yuntian Energy New Materials Co., Ltd. (tentative name, subject to the name approved by the administrative department for industry and commerce), and the company will contribute 1 billion yuan in cash. According to the progress of the project, it will be used to undertake the construction and operation of the new material precursor and supporting project of 500000 t / an iron phosphate battery.

It is reported that on October 29th, Yuntianhua announced that the company plans to invest 500000 tons / year iron phosphate battery new material precursors and supporting projects in Caopu Chemical Park, Anning Industrial Park, Anning City, Yunnan Province, with a total investment of 7.286 billion yuan. Among them, it is planned to build 500000 tons / year battery new material precursors and supporting projects. Among them, it is estimated that about 2.247 billion yuan will be invested in the construction of 100000 tons / year iron phosphate project and supporting facilities, including 100000 tons / year iron phosphate project, 100000 tons / year wet process phosphate refining project and 200000 tons / year H "O" project. It is estimated that about 5.039 billion yuan will be invested in the construction of 2 × 200000 tons / year iron phosphate project and supporting facilities.

The announcement shows that the 100000 ton / year iron phosphate project and supporting facilities are expected to be completed in June 2022, and it is planned to invest in a new 2 × 200000 ton iron phosphate project and supporting facilities, which is expected to be completed in December 2023.

Yun Tianhua said that the company's investment in setting up a new company will undertake the construction and operation of the company's 500000 tons / year iron phosphate and supporting projects, which will help the company to concentrate superior resources and speed up the construction progress of the company's transformation and upgrading projects. and form an efficient management model for the integration of construction, research and development, production and sales.