Enjie shares: 6.8 billion to build lithium diaphragm and aluminum-plastic film project in Jiangsu Jintan

On the evening of June 18, Enjie (002812) issued an investment announcement on the diaphragm project and aluminum-plastic membrane project. The company's holding subsidiary, Shanghai Enjie New material Technology Co., Ltd. (referred to as "Shanghai Enjie"), signed an investment cooperation agreement with the people's Government of Jintan District of Changzhou City and the Management Committee of Jiangsu Jintan Economic Development Zone. It plans to invest in the construction of lithium battery isolation membrane project, which plans to invest about 5.2 billion yuan in fixed assets. The project funds shall be solved by means of self-financing and self-financing.

In addition, Shanghai Enjie, in cooperation with the people's Government of Jintan District of Changzhou City and the Management Committee of Jiangsu Jintan Economic Development Zone, plans to invest in the construction of aluminum-plastic film projects with fixed assets of about 1.6 billion yuan. The project funds will be solved through self-funded and self-raised funds.

Specifically, the Enjie diaphragm project is implemented in three phases. The first phase of the project invests in the construction of four diaphragm basement membrane production lines and the coating lines that match their production capacity, which are planned to be completed and put into production by March 31, 2024. The second phase of the project plans to reinvest in the construction of four diaphragm basement membrane production lines and coating lines that match their production capacity, all of which are scheduled to be completed and put into production by December 31, 2024. The third phase of the project will reinvest in the construction of eight diaphragm base membrane production lines and coating lines that match their production capacity, which are scheduled to be completed and put into production by June 30, 2026. Shanghai Enjie set up a project company Jiangsu Enjie New material Technology Co., Ltd. (provisional name, subject to enterprise registration and approval name) in Jincheng Science and Technology Park as the main body of the project.

Enjie said that the purpose of this investment project is to further expand the production capacity of the company's wet lithium battery separator, in order to better meet the downstream customer demand for the company's lithium battery separator products, enhance customer viscosity and strengthen the company's competitive advantage.

Enjie aluminum-plastic film project plans to build 8 aluminum-plastic film production lines, with an annual production capacity of about 270 million square meters. Shanghai Enjie wholly-owned project company Changzhou Ruijie New material Technology Co., Ltd. (provisional name, subject to enterprise registration and approval name) is set up by Shanghai Enjie in Jincheng Science and Technology Park as the main body of the project. Within 90 days from the date of completion of registration in Changzhou Ruijie, Changzhou Ruijie acquired 82% of Jiangxi Ruijie, a holding company of Shanghai Enjie holding Company. after the acquisition, Jiangxi Ruijie will become a holding subsidiary of the project company.

Enjie shares said that the purpose of this foreign investment is to better develop the company's aluminum-plastic film business, the layout of aluminum-plastic film production capacity.

Battery Network noted that on June 15, Enjie issued an announcement that the company intends to buy 3.25% and 1.53% of Shanghai Enjie held by YAN MA and ALEX CHENG respectively by issuing shares and paying cash. Up to now, the audit and evaluation of the underlying assets is in progress, and this transaction is not expected to constitute a major asset restructuring. Trading in the company's shares and convertible bonds has been suspended since the market opened on June 16.