On September 3, Ningde Times announced that the company intends to co-invest RMB 3.6 billion to establish Ningbo Bongpu Times Co., Ltd. (tentative name, hereinafter referred to as "joint venture company") with the holding subsidiary Guangdong Bongpu Circulation Technology Co., Ltd. (hereinafter referred to as "Guangdong Bongpu") to invest in cathode materials and related resources. And operation.



The announcement shows that the scope of operation of the joint venture company is to invest in new materials industry; to sell battery materials, nickel, cobalt and other related materials; to develop, consult and transfer technology; and to operate and act as an agent for import and export business of various commodities and technologies. Among them, Ningde Times contributed 1.764 billion yuan, holding 49% of the shares; Guangdong Bongpu contributed 1.836 billion yuan, holding 51% of the shares.



Ningde Times said that the company and its holding subsidiary, Guangdong Bongpu, jointly invested in the establishment of joint ventures, mainly for the investment and operation of cathode materials and related resources. This outward investment conforms to the company's overall development strategy and helps to further guarantee the supply of cathode materials. In the long run, it will have a positive impact on the company's future financial situation and operating results.



It is understood that this is the second investment in the field of cathode materials in Ningde era this year. In April this year, Ningde Times disclosed that Ningde Bangpu, a subsidiary of Ningde Holding Company, intends to invest in the construction of cathode material industrial park in Fuding Eco-synthetic Leather (Longan) Industrial Park, Ningde City. The proposed investment of the project is not more than 9.13 billion yuan.



It is reported that the construction project of Ningde New Material Industrial Park of Bangpu Cycle is located in the ecological synthetic leather (Longan) Industrial Park of Fuding City, Fujian Province. The construction unit is Ningde Bangpu Cycle Technology Co., Ltd. The project covers an area of about 750 Mu and will produce 100,000 tons of lithium nickel cobalt manganate (lithium ion battery cathode material) including cathode material precursor. It weighs 100,000 tons. The project is divided into two phases and the overall construction period is five years.