Xtc New Energy Materials (688778.SH) Plans to Invest 1.525 Billion Yuan in 50,000-Ton High-Performance Battery Materials Project

Stock News11-18

Xtc New Energy Materials (Xiamen) Co., Ltd. (688778.SH) announced that with rapid technological advancements in the battery industry, higher demands have been placed on battery materials. The surge in demand for high-performance batteries from new energy vehicles, energy storage, and consumer electronics has prompted the company to seize market opportunities and enhance its core competitiveness.

The company plans to invest 600 million yuan to establish a wholly-owned subsidiary, tentatively named Xiamen Canghai New Energy Materials Co., Ltd. (subject to approval by registration authorities, referred to as "Canghai New Energy"), which will construct an annual production capacity of 50,000 tons of high-performance battery materials. The total investment for the project is estimated at 1.525 billion yuan (final investment amount subject to actual expenditures), funded by internal capital and loans.

This project aims to expand production capabilities for high-performance battery materials, further consolidating the company's leading position in the battery materials industry. It will strengthen technological innovation, extend market advantages, and reinforce the company's competitive edge.

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