Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 30, the latest announcement issued by Ningde Times shows that the company's new proposal agrees that Guangdong Bangpu Circular Technology Co., Ltd., a holding subsidiary, intends to invest and build an integrated new materials industry project in Datang New Materials Industrial Park, Fobeizhan New Industrial Park, Foshan City, Guangdong Province.

CTOnews.com briefly summarizes that Ningde Times, a holding subsidiary, has decided to build an intensive and large-scale production base with 500000 tons of waste battery materials for recycling (including compatible process materials) and corresponding lithium iron phosphate cathode materials, ternary cathode materials and anode recycled graphite. According to reports, the planned land area of the base is about 2965 mu, the construction period of the project is 4 years, and the total investment amount of the project does not exceed 23.8 billion yuan.

Ningde Times said that the implementation of this project will help to further improve the overall strategic layout of the company's lithium power new energy industry chain and battery recycling business, take advantage of the location advantages of the new energy market in the Greater Bay area, promote the development of the company's lithium battery materials and recycling business, ensure the supply of upstream key resources and raw materials, and reduce production costs and enhance the company's core competitiveness through synergy. The investment and construction of this project will increase the company's capital expenditure and cash expenditure, but it will have a positive impact on the company's business layout and operating performance in the long run, in line with the interests of all shareholders of the company.

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