Hunan Yuneng: Plan to invest 950 million yuan to build 90,000 tons of lithium battery cathode material project in Malaysia

22, Hunan Yuneng (301358) announced that it planned to set up a new investment company in Singapore and a project company in Malaysia to build a project with an annual output of 90000 tons of lithium battery cathode materials. The construction period of the project is 15 months, with a total investment of about 560 million Malaysian ringgit, or about 950 million yuan.

Hunan Yuneng said that this investment can better serve new energy battery manufacturers in ASEAN and other regions, reduce the risk of international trade friction to a certain extent, help to expand the scale of production capacity, and enhance the global market share of the company's products.

According to its announcement, in recent years, Malaysia and many neighboring ASEAN countries have announced positive energy transformation goals, vigorously promoting the popularization of renewable energy power generation and new energy vehicles, and then driving the rapid development of local energy storage and new energy vehicle related industries. As an important economy in the ASEAN region, Malaysia, with its unique geographical location and trade advantages, provides convenient conditions for international business expansion.

As the leader of lithium iron phosphate, Hunan Yuneng's annual shipment in 2024 was 710600 tons, an increase of 40.2% over the previous year, and its market share ranked first in the industry for five consecutive years. At present, lithium iron phosphate batteries are popular in the global market by virtue of their cost-effective advantages, and the growth momentum is rapid. The company seizes the market opportunities and accelerates the layout of overseas markets. In 2024, Hunan Yuneng's first overseas production base settled in Spain, and plans to build a project with an annual output of 50,000 tons of cathode materials for lithium batteries, which is progressing smoothly. This time, Hunan Yuneng has increased its overseas production capacity in Malaysia, adding weight to the company's globalization strategy.