Xinzhoubang (300037.SZ) plans to invest about US$260 million in the construction of the Middle East Xinzhoubang lithium-ion battery materials project

According to the Zhitong Finance App, Xinzhoubang (300037.SZ) announced that the company plans to use CapchemMiddle East Company (hereinafter referred to as “Middle East Xinzhoubang”), the company's current wholly-owned company, as the implementing entity to invest in the construction of the Middle East Xinzhoubang lithium-ion battery material project in Yanbu Heavy Industrial Park in Saudi Arabia. The total planned investment of the project is about US$260 million.

After the project is put into operation, it will further improve the company's global production capacity layout and overseas collaborative supply chain system construction, ensure the stable supply of core raw materials in overseas electrolyte plants such as Poland, effectively reduce cross-regional logistics costs and supply chain risks, and further enhance service response efficiency and cooperation with international core customers. The project will also supply electrolyte solvents to overseas markets and expand the industry's third-party customer markets and overseas revenue channels.