Xiamen Tungsten New Energy plans to invest 990 million yuan to build a 30,000-ton expansion project for lithium-ion battery positive electrode materials

The company's main expansion project currently under construction is the "Haijing Base 40,000 tons per year lithium-ion battery material industrialization project". The first and second phases of the project (with a total annual production capacity of 20,000 tons) are one of the company's initial public offering and listing projects, and are currently being invested and constructed as planned. In order to give play to the scale effect and meet the needs of the downstream market, the company invested RMB 620.066 million to start the third phase of the project's capacity construction while constructing the fundraising project, and carried out the Haijing Base's 20,000 tons per year lithium-ion battery positive electrode material production line equipment procurement and installation project.

With the sharp increase in the demand for the company's ternary material product orders, the company's existing and under-construction ternary material product production capacity can no longer meet future order demand. In order to meet market demand and increase the company's market share and competitiveness, the company plans to invest in the construction of a 30,000-ton expansion project for lithium-ion battery positive electrode materials in workshop 9 at the Haijing base (the name is subject to the actual project establishment). After the completion of the 40,000-ton annual lithium-ion battery material industrialization project (Phase I, II, and III) and this project, the company's Haijing base will reach a total annual production capacity of 70,000 tons of lithium battery positive electrode materials.

The company plans to invest a total of RMB 990 million (the final total investment is subject to the actual investment). The funds will come from the company's own and self-raised funds, including RMB 126 million for working capital, RMB 254 million for infrastructure costs, and RMB 610 million for the purchase and installation of production equipment. A new 9# plant will be built at the company's Haijing base, and corresponding equipment will be purchased to form a production capacity of 30,000 tons of lithium-ion positive electrode materials.