Weifu Hi-Tech announced on July 10 that it plans to subscribe for 450 million yuan of Shanghai Xien Technology Co., Ltd. with an additional registered capital of 231 million yuan. After the capital increase is completed, the company will hold 33.83% of Shanghai Xi'an's shares, and Shanghai Xi'an will be included in the scope of the company's consolidated financial statements. Shanghai Xi'an is mainly engaged in comprehensive recycling of waste lithium batteries, research and development, production and sales of lithium battery materials, and hazardous waste disposal services. Driven by the triple drive of continued rapid growth in demand for lithium battery cathode materials, the advent of lithium battery decommissioning, and industry policy guidelines related to battery recycling, the lithium battery recycling industry has entered a strategic window of rapid development. The company will expand the layout of the emerging industry circuit on top of the existing core competency base, seize the development opportunities of new energy vehicles, green and low-carbon development of new energy storage, and the comprehensive recycling industry of key metal recycling resources, and build the company's core strategic support sector for the transformation of new energy sources.

Weifu Hi-Tech announced on July 10 that it plans to subscribe for 450 million yuan of Shanghai Xien Technology Co., Ltd. with an additional registered capital of 231 million yuan. After the capital increase is completed, the company will hold 33.83% of Shanghai Xi'an's shares, and Shanghai Xi'an will be included in the scope of the company's consolidated financial statements. Shanghai Xi'an is mainly engaged in comprehensive recycling of waste lithium batteries, research and development, production and sales of lithium battery materials, and hazardous waste disposal services. Driven by the triple drive of continued rapid growth in demand for lithium battery cathode materials, the advent of lithium battery decommissioning, and industry policy guidelines related to battery recycling, the lithium battery recycling industry has entered a strategic window of rapid development. The company will expand the layout of the emerging industry circuit on top of the existing core competency base, seize the development opportunities of new energy vehicles, green and low-carbon development of new energy storage, and the comprehensive recycling industry of key metal recycling resources, and build the company's core strategic support sector for the transformation of new energy sources.