On September 5th, Rongbai Technology and Xiantao Municipal People's Government signed a strategic cooperation agreement, which was presided over by Sun Daojun, Deputy Secretary of Xiantao Municipal Party Committee and Mayor. Li Yan, a member of the Party Working Committee of Xiantao High-tech Zone and Deputy Director of the Management Committee, and She Shengxian, Co-President of Rongbai Group, represented both sides to sign the contract. Chen Ping, Deputy Governor of Hubei Province, met with Bai Houshan, Chairman of Rongbai Group, and witnessed the signing of the contract.

According to the agreement, the company will build a 100,000-ton manganese-iron-lithium phosphate and a 50,000-ton sodium positive electrode material capacity in Xiantao High-tech Development Zone, with a total investment of about 3 billion yuan, and is expected to be completed and put into production by 2026. This cooperation is a further upgrade based on the Strategic Cooperation Investment Agreement signed by both parties at the end of 2021, which will help Xiantao's economic and industrial high-quality development.