On the evening of Sunway Co.Ltd(603333) 16, the announcement on the first phase of the 40000 ton project and the establishment of a joint venture of the integration project of negative electrode materials for power energy storage batteries with an annual output of 200000 tons was disclosed. The company has cooperated with Leshan Municipal People’s government, the management committee of Leshan high tech Industrial Development Zone China conch venture Holdings Co., Ltd. (hereinafter referred to as “conch venture”) has signed the investment agreement on new energy southwest manufacturing base project and plans to invest in the construction of “new energy southwest manufacturing base project” in Leshan high tech Zone, Sichuan Province. On the same day, Sunway Co.Ltd(603333) and conch venture signed the joint venture agreement on the establishment of Sichuan Haichuang Shangwei New Energy Technology Co., Ltd. with respect to the investment and construction of the first phase 40000 ton project of the 200000 ton power energy storage battery cathode material integration project in the above investment agreement, and it is proposed to jointly contribute to the establishment of a joint venture to operate the investment project.
It is disclosed that the registered capital of the proposed joint venture is 500 million yuan and Sunway Co.Ltd(603333) plans to invest 245 million yuan to invest in the first phase of the 40000 ton project of the integration project of negative electrode materials for 200000 ton power energy storage batteries. It is estimated that the investment amount of the first phase of the project is 1.6 billion yuan, the commencement time is April 2022 and the construction period is 18 months. Both investors plan to invest with self raised funds and project loans. The total construction investment of the negative electrode material integration project of power energy storage battery with an annual output of 200000 tons is 8 billion yuan, which will be implemented by stages. The overall planned capacity of the project is 200000 tons. The project is strongly supported by Leshan Municipal Government’s policies on fixed asset investment incentives, electricity price subsidies, natural gas price support, business contribution incentives, logistics subsidies, etc. at present, the company has signed an investment agreement with the government and reached an intention on land price, electricity price, gas price and other elements. Both investors will start to prepare for the establishment of the joint venture as soon as possible and actively communicate the follow-up energy consumption indicators, energy assessment, environmental impact assessment and safety assessment.
Sunway Co.Ltd(603333) said that the company is not involved in the field of negative electrode materials of power energy storage batteries, and there is no technology and talent reserve in this field. The partner and its related parties provide professional technology and talent guarantee for this investment project, and there are uncertain risks whether it can support the smooth implementation of the project. The joint venture will introduce high-end talents, continuously strengthen brand operation and management, increase product marketing efforts and investment in technology R & D and design, keep up with market changes, continuously improve product market competitiveness and profitability, and lay a solid foundation for effectively reducing market risks.
According to the announcement, the partner conch venture was listed on the main board of the Hong Kong Stock Exchange on December 19, 2013. The company takes the environmental protection industry as the main body, actively arranges the new energy field, and invests in the construction of the lithium iron phosphate cathode material project with an annual output of 500000 tons and the first CKB lithium battery recycling project in China in Wuhu Economic and Technological Development Zone, It has quickly entered the track of new energy materials and lithium battery recycling industry, with corresponding technical reserves and capital advantages. In 2020, the operating income of conch entrepreneurship was 6604.573 million yuan and the net profit was 7617.627 million yuan.
Sunway Co.Ltd(603333) said that the company and conch venture jointly invested in the construction of the negative electrode material integration project of power energy storage battery, mainly to combine the advantages of both sides and jointly expand the new energy material market. The investment project is in line with the company’s strategic development direction and relevant national industrial policies, has good market prospects and economic benefits, and is conducive to promoting the optimization of the company’s investment structure, Improve investment income and provide guarantee for the healthy and sustainable development of the company.
