On January 18, 2022, Suining Chengxin held the commissioning ceremony, and the annual output of 30,000 tons of lithium hydroxide project was officially ignited and launched, and entered the trial production stage.
In October 2020, Chengxin Lithium signed an investment agreement with the Management Committee of Shehong Economic Development Zone in Sichuan to invest and construct an annual output of 30,000 tons of lithium hydroxide project in Shehong city, which is one of the key projects supported by the local government. At the end of 2020, the project started construction. After a year of construction, it has built a domestic first-class and international leading lithium hydroxide production line.
Suining Chengxin lithium hydroxide project with an annual output of 30,000 tons was put into operation
We are pleased to announce that Chengxin’s non-public offering project is approved by the Issuance Examination Committee of the China Securities Regulatory Commission on October 31! BYD is introduced as the strategic investor in this non-public offering, and fully subscribes the raised funds (not more than 2.3 billion yuan), which will be used to supplement working capital and repay debts.
As one of the leaders in the global new energy vehicle industry, BYD has the world's leading battery, motor, electronic control and vehicle core technologies, and occupies a large market share of new energy vehicle market. BYD and Chengxin will deepen cooperation in the fields of raw material purchase, sales and processing, technical cooperation, cooperative development of lithium resources, and industrial chain resource coordination.
Under the background of "carbon peaking and carbon neutrality", the world's major economies are actively promoting sound economic system with green, low-carbon and circular Development. The new energy vehicle industry is booming, and the demand for energy storage is growing rapidly, driving the rapid development of the lithium battery and lithium battery new energy materials industry. The funds raised from this non-public offering will supplement the working capital required for the Company’s business expansion, enhance the Company’s financial strength and anti-risk ability. The funds are conducive to the Company's optimization in business layout, financial capabilities, talent introduction, etc., and help the Company grasp opportunities for the rapid development of the lithium battery new energy industry to accelerate the realization of the strategic goal of " To Be The World’s Leading Li-ion Battery Materials Producer".
Under the background of the global clean energy revolution and China's promotion of the "dual carbon" goal, the strong consumer demand for new energy products has been overwhelming, and the explosive growth of the new energy industry is profoundly reshaping the industrial pattern of the world. As a listed company deeply focused on lithium new energy metals, ChengxinLithium Group Co., LTD. (hereinafter referred to as "Chengxin Lithium") is located in the upstream lithium resources and lithium products, becoming a pivotal link in the new energy industry chain.
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