Hubei Haigesi Lithium Battery New Material Project Kicking Off the Construction

Hubei Haigesi Lithium Battery New Material Project Kicking Off the Construction

On September, 22nd, Hubei Haigesi lithium battery new material project, boasting the investment of RMB 18.6 billion, kicked off the construction in Hubei Yidu Chemical Industry Park. This is the biggest industry project with the biggest single investment scale introduced by Yidu so far. Eastern Shenghong, the new leading private refining enterprise, announced the investment and construction in last November. Eastern Shenghong is the listed subsidiary of Shenghong Holding Group. The project plans to invest in the construction of supporting raw material and iron phosphate and lithium iron phosphate new energy material project. After completion, the project will provide the annual capacity of 500000 tons of iron phosphate and 300000 tons of lithium iron phosphate, and contribute annual output value of RMB 27.8 billion. The project has two phases, and Phase One plans to construct 100000 tons of iron phosphate and 100000 tons of lithium iron phosphate and supporting equipment. It is estimated the project will be completed and reach design capacity by October, 2024.

As a matter of fact, this is the second time Shenghong Holding Group makes big investment in new energy field. On as early as October, 29th, 2022, Shenghong Holding Group announced the investment of RMB 20 billion in the construction of Shenghong energy storage HQ project with the capacity of 50GWh of energy storage lithium ion battery. On December, 15th, the same year, Shenghong Holding Group officially signed Shenghong novel energy storage battery and system integration project, with total investment of RMB 12 billion and total capacity of 25GWh. The construction includes high-performance lithium ion battery and system production line and so on.

In 2023, Shenghong Holding Group again implements huge investment in energy storage battery project. On January, 31st, Shenghong Holding Group signed and implemented energy storage battery super factory and new energy battery research institute (capacity of 60GWh) in Zhangjiagang of Suzhou, boasting a total investment of RMB 30.6 billion. Information has that Shenghong Group was established in 1992. It is an international company engaged in building a world-class new energy and new material high and new technology industrial cluster. The Group owns one listed company (Eastern Shenghong), over 30 entity companies and 50000 employees. Its business covers over 100 countries and areas all around the globe. Shenghong is a TOP 500 company, and ranked 222nd place and 66th place in China in 2023. The Company has constructed a new pattern of integrated development of the entire industrial chain covering petrochemical refining, new energy, new material and high-end textile. The Company also has broken foreign monopolies in multiple subdivisions, and filled domestic blanks, making it a decisive role in the industry. Centering on national strategic directions and relying on core raw material big platforms, currently, Shenghong is actively promoting new energy and new material (1+N) strategic deployment. The Company is making full efforts in building a high-tech industry group featuring strong safeguarding ability for basic raw material, and world-class new energy and new material R&D and supplying ability, so as to accelerate the construction of a competitive world-class enterprise.

Information has that Hubei Haigesi project is one of the core projects of Shenghong to build “1+N” new pattern of diversified industrial chain covering new energy, new material, electronic chemistry and green environment protection.