According to a report by "Qilu Evening News Yantai Media," on the morning of February 24, the Shandong Province Major Project Investment Expansion and Stable Growth Promotion Conference and the 2025 Spring High-Quality Development Major Project Construction On-Site Promotion Conference were held in Jinan, Shandong. Sub-venues were set up in various cities, with Yantai's sub-venue located at the site of the Wanhua Chemical New-Generation Battery Materials Industrial Park project in Haiyang City.
The report indicates that the Wanhua Chemical New-Generation Battery Materials Industrial Park project is being developed by Wanhua Chemical (Yantai) Battery Industry Co., Ltd., located in Haiyang, Yantai. The project involves a total investment of 16.8 billion yuan, with 700 million yuan expected to be invested in 2025. Covering an area of 1,850 mu, the project primarily includes the construction of production facilities for battery cathode and anode materials and related supporting infrastructure. It is expected to commence production of a 100,000 mt LFP production line by June 2026 and achieve full production by December 2032.
Additionally, the project includes the construction of 870,000 kW of green electricity capacity to achieve integrated "generation-grid-load-storage" power supply. It will adopt Wanhua Chemical's world-class LFP cathode material technology and self-developed new-type graphite anode material production equipment, which significantly reduces energy consumption in key processes and shortens production cycles, providing a clear competitive advantage in the market.
According to available information, Wanhua Chemical (Yantai) Battery Industry Co., Ltd. was established in 2022 and is a subsidiary of Wanhua Chemical (600309). The company focuses on the R&D, production, and sales of upstream battery materials and chemicals, aiming to build a battery materials ecosystem.
Battery Network noted that on February 7, Wanhua Chemical successfully held a signing ceremony with the Haiyang Municipal Government for the "Wanhua Green Electricity Industrial Park Project Investment Agreement" and the "Wanhua Green Electricity Industrial Park Green Electricity Development Investment Agreement."
Wanhua Chemical Chairman Zengtai Liao stated that Wanhua Chemical is cultivating battery materials as a 100-billion-yuan business to create a new Wanhua. Currently, Wanhua Chemical has built a battery materials R&D team of over 500 members and achieved a series of groundbreaking innovations. The Wanhua Green Electricity Industrial Park in Haiyang is a critical step in fostering a second growth curve. The project will accelerate the development and mass production of fourth- and fifth-generation LFP products, driving technological advancements in LFP products.
