Yiwei LiNeng: the business scope of Jingmen Chuangeng, a subsidiary, increases the production, marketing, R & D of battery materials.

SMM News: Yiwei Lithium Energy subsidiary Jingmen Chuangneng due to business development and management needs, its business scope has been changed, other information remains unchanged. After the change, the business scope of Jingmen Chuangneng has increased the "production of battery materials".

Recently, Yiwei Lithium Energy announced that the company had received notice from its subsidiary Jingmen Yiwei Chuangneng Lithium Battery Co., Ltd. (hereinafter referred to as "Jingmen Chuangneng"). Jingmen Chuangneng has changed its business scope due to the needs of business development and management. other information remains the same. After the change, the business scope of Jingmen Chuangneng has increased the "production of battery materials".

The announcement shows that at present, Jingmen Chuangneng has completed the registration procedures for industrial and commercial change and obtained the "Business license" issued by the Market Supervision and Management Bureau of Jingmen High-tech Zone (Qiandao Zone).

It is understood that Yiwei Lithium Energy has a layout in the field of battery materials for a long time. In March 2018, Yiwei Lithium Energy and New Zebang jointly contributed 100 million yuan to set up Jingmen New Zebang New Materials Co., Ltd., Yiwei Lithium Energy contributed 20 million yuan to account for 20% of the registered capital. The two sides take Jingmen Xinzubang New Materials Co., Ltd. as the main body of the project to invest in the construction of a project with an annual output of 20,000 tons of lithium-ion battery electrolyte and 50,000 tons of semiconductor chemicals. The project is implemented in Jingmen, Hubei Province, with an estimated investment of 350 million yuan in two phases, with an investment of 250 million yuan in the first phase, with a construction period of about 24 months, and is expected to be put into production in the first quarter of 2020; the second phase is expected to invest 100 million yuan, and construction is expected to start two years after the first phase is put into production. After the completion of the project, it can achieve an average annual operating income of 1.7 billion yuan and a net profit of 130 million yuan.

Data show that Jingmen Chuangneng was established in September 2017, and in July 2019, Yiwei Lithium Energy raised 500 million yuan in non-public shares to increase capital to Jingmen Chuangeng for the implementation of the Jingmen Yiwei Energy Storage Lithium Ion Battery Project. After the completion of the capital increase, the registered capital of Jingmen Chuangneng will increase from 550 million yuan to 1.05 billion yuan.

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