【Black Sesame: Company Postpones Investment and Construction of Energy Storage Projects Based on Prudent Principles of Investment Risk Management】On October 14, Black Sesame stated on an investor interaction platform that, given the current external development situation and business environment of the energy storage lithium battery industry, and adhering to the prudent principle of investment risk management, the company has decided to temporarily suspend the investment and construction of the project, currently focusing its resources on the operation of the greater health food industry.
It is understood that in 2023, Black Sesame intended to transform its wholly-owned subsidiary, Jiangxi Xiaohei Xiaomi Food Co., Ltd., to operate in the energy storage lithium battery sector and scale up the construction of an energy storage lithium battery production base. According to the announcement, the budgeted investment for related projects reached RMB 3.5 billion. The project was planned to be constructed in two phases, with the first phase expected to reach full production capacity in January 2025 and the second phase anticipated to achieve the same in October 2025.
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