Lithium battery project settled in Nantong -Lithium - Ion Battery Equipment

Lithium battery project settled in Nantong -Lithium - Ion Battery Equipment

On the evening of December 8, Topbond announced that in order to expand the company's lithium-ion battery production scale, meet the rapidly rising demand for the company's lithium-ion battery application business such as energy storage and light power, and enhance market competitiveness, December 7, 2021 , the company's wholly-owned subsidiary Topbond Lithium Power and Nantong Economic Development Zone Management Committee signed the "Investment Agreement" and "Supplementary Agreement" with effective conditions. The company plans to establish a new company in Nantong City, with its own funds or self-owned funds. Raise funds to invest in the construction of lithium-ion battery projects, and purchase the original Hanwha New Energy plant that has completed infrastructure construction for the construction of square aluminum shell cells, soft-pack cells, large cylindrical cells and battery pACK production lines.(Lithium - Ion Battery Equipment)

The total investment of the project is 5 billion yuan, which is to build a manufacturing base for square, soft pack, cylindrical cells and pACK battery packs. The total designed output of the project is 6GWh of cells and 4GWh of pACK battery packs. The project is implemented in three phases. The first phase has a total investment of 1.6 billion yuan to produce 2GWh batteries and 1GWh battery packs; the second phase has a total investment of 1.7 billion yuan, adding 2GWh batteries and 1.5GWh battery packs; the third phase has a total investment of 1.7 billion yuan, Added 2GWh cells and 1.5GWh battery packs. The first phase was put into production in two phases. The first phase was put into production of 1.3GWh cells, with a total investment of 750 million yuan, including 280 million yuan in equipment investment; the second phase added 0.7GWh of new cells and 1GWh of pACK battery packs.

Topbond stated that this foreign investment is based on the company's strategic layout and business development to meet the rapidly rising needs of the company's energy storage business and light power business. Lithium-ion battery output, seize the development opportunity of lithium-ion battery scale application.

In addition, Topbond stated on the interactive platform of Shenzhen Stock Exchange on December 9 that the project is the company's medium and long-term investment plan in the direction of new energy. The total investment includes land and plant purchase, equipment purchase and working capital investment, of which working capital accounts for a large proportion, including working capital and purchasing raw materials. In the first phase of the first phase, the equipment investment is 280 million, and the production capacity is expanded by 1.3GWH. The company's planned production expansion plan this year includes the increase in the output of battery cells, but because the project is still in the preparatory period for construction, it will take at least 2-3 years from the completion of the construction to the start of production. The plant to be purchased this time has already been built, which can speed up the production of lithium batteries and solve the current production gap. The first phase of the first phase is expected to be put into use in the fourth quarter of 2022.

It is understood that Topbond has been deeply engaged in the field of lithium battery applications for many years. It has the R&D and manufacturing capabilities of multi-type batteries and pACK, and provides customers with various lithium-ion battery energy storage products and system solutions. In the third quarter of 2021, the company's main revenue was 5.619 billion yuan, up 56.21% year-on-year; net profit attributable to the parent was 565 million yuan, up 55.86% year-on-year; non-net profit deducted was 451 million yuan, up 59.8% year-on-year. Under multiple external pressures, the company's revenue in the third quarter rarely achieved rapid growth.



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