Recently, Weiming Environment Protection signed a joint venture agreement with Shenzhen Capchem Technology Co., Ltd., Yongqing Co., Ltd., and GEM Co., Ltd. It is planned to build a project with an annual output of 100,000 tons of battery electrolyte in Dongtou District, Wenzhou City. The estimated total investment is 400 million yuan, and the company will participate in the investment and construction of this project in the form of equity participation.
The four shareholders plan to jointly establish a joint venture company, Zhejiang Capchem Materials Co., Ltd., as the investment entity of the project. Among them, Shenzhen Capchem Technology Co., Ltd. holds 68% of the equity of the joint venture company, Yongqing Co., Ltd. holds 20%, and Weiming Environment Protection and GEM Co., Ltd. each hold 6%. This project is planned to be implemented in two phases. In the first phase, a battery electrolyte production line with an annual output of 50,000 tons will be built. The construction of the second phase with an annual output of 50,000 tons of battery electrolyte will be launched according to the market situation. The products can be used as production raw materials for battery manufacturing enterprises. The holding company under Yongqing Co., Ltd., an equity participating party in the project, has established multiple battery production bases in Zhejiang Province.
Shenzhen Capchem Technology Co., Ltd. is a leading enterprise in the domestic battery electrolyte industry, with advanced production technology and mature operation experience, providing a strong guarantee for the smooth implementation of the project. This equity participation investment in the battery electrolyte project is an extension of Weiming Environment Protection's new energy material industrial chain after its investment in the high-grade matte nickel project in Indonesia and the lithium battery cathode material project in Wenzhou. It further improves the company's layout in the field of new energy materials, enriches the company's industrial resources, and adds new business opportunities.