Zhongchuang Xinhang also established its production base of 10 billion-class power battery and energy storage system in Sichuan.

According to news released from Meishan, Sichuan, on March 22, the people's Government of Pengshan District, Meishan City, Sichuan Province, and China Chuangchuang Xinhang Technology Co., Ltd. held a contract signing ceremony for the Meishan base project of innovative aviation power battery and energy storage system in Chengdu.

It is reported that the above project is the second power battery and energy storage system production base landed by Sinovel in Sichuan, and it is also the second project invested by the company in Meishan City after the power battery cathode material project. The total investment of the project is about 10 billion yuan. after settling down, it will contribute to the chain development of lithium power industry cluster in Meishan City, and is of great significance to building 100 billion-level lithium power industry cluster and speeding up the construction of "1-3" modern industrial system.

According to reports, the lithium power industry is the top priority for Meishan to take the lead in developing new energy and new materials industry. at present, 39 lithium power projects have been introduced, such as Yabao and Chinese fir science and technology in the United States, with a total investment of nearly 100 billion yuan. covering the middle and upper reaches of lithium salts, electrolytes, positive and negative materials, diaphragms and other key links of the industrial chain. The landing construction of the Meishan base project of the power battery and energy storage system of China New Airlines is of groundbreaking significance to Meishan and is a key step in the extended chain and strong chain of the lithium power industry, which will accelerate the pace of Meishan's march into the lithium power industry chain. to inject strong momentum into the creation of hundreds of billions of lithium power industry clusters.

In addition to Meishan base, Battery Network also noted that on January 25th and 26th, the Guangzhou base project and Jiangmen base project of China Chuangchuang Xinhang Power Battery and Energy Storage system were successfully signed, planning to increase 100GWh production capacity.

After the landing of the above three bases, there will be as many as 10 production bases for power batteries and energy storage systems of Sinovel, including Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, Hefei, Heilongjiang, Guangzhou, Jiangmen and Meishan. In terms of production capacity, the company plans to exceed 500GWH in 2025 and is expected to reach 1TWh in 2030.

In addition, in terms of capital, on March 11, Sinovel formally submitted a prospectus to the Hong Kong Stock Exchange for listing on the Hong Kong main board. The fund-raising plan of IPO, is for the construction and expansion of industrial bases for a number of power batteries and energy storage systems; the development of core technologies for advanced materials, advanced batteries and battery life cycle management; experimental, pilot capacity building and advanced manufacturing technology development; working capital and general corporate uses. What is noteworthy is that it has been reported that Sinotrans is expected to become the largest IPO, in Hong Kong so far in 2022, with a total fund-raising of US $1.5 billion.