Entering the field of battery electrolyte, Shida Shenghua plans to invest 2.16 billion yuan to build two projects

On the evening of November 7, Shida Shenghua issued an announcement that its wholly-owned subsidiary Shenghua New Energy Technology (Dongying) Co., Ltd. plans to invest in a 300,000 tons/year electrolyte project with an estimated total investment of 1.6 billion yuan. In addition, Dongying Shida Shenghua New Energy Co., Ltd., a 51%-owned subsidiary of the company, plans to invest in a 100,000 tons/year liquid lithium salt project with an estimated total investment of 560 million yuan. The construction sites of the two projects are located at No. 198 Tongxing Road, Kenli District, Dongying City, Shandong Province, and are expected to be completed and put into production in February 2023.

Shida Shenghua is a leading enterprise in the field of lithium battery electrolyte solvents. Its main products have a market share of up to 40%, and it is a high-quality raw material supplier for many lithium-ion battery manufacturers at home and abroad. At present, the company focuses on carbonate solvent series products and lithium battery materials as its main business. It has corresponding industrial layouts in Dongying, Jining and Quanzhou, and plans to build an integrated lithium battery material project in Wuhan to meet the needs of the central and western regions of China.

In recent years, affected by the rapid development of the downstream new energy vehicle industry, the demand for lithium battery materials has continued to increase, among which electrolyte is one of the four key materials for lithium-ion batteries.

As an electrolyte raw material manufacturer, this investment is the first time that Shida Shenghua has entered the downstream electrolyte production field. Shida Shenghua said that the investment in the electrolyte project can meet the company's strategic layout needs in the field of new energy materials and give full play to the company's existing technology and marketing advantages.

Shida Shenghua further stated that in the future it will extend the industrial chain structure, enter the field of battery raw material supply, continue to strengthen the company's core competitive advantages, improve the company's profitability, and lay a more solid foundation for the company's future long-term and high-quality development.