On September 18, GEM released an announcement saying that based on the "Investment Framework Agreement on the Construction of Power Battery Materials and Circular Economy Industrial Park and Other Projects" signed by the People's Government of Ningde City, the People's Government of Fu'an City, GEM and Qingtuo Group, GEM's subsidiaries Fu'an Qingmei Energy Materials Co., Ltd., a joint venture established by Jingmen Greene New Materials Co., Ltd. and Yongqing Technology Co., Ltd., a subsidiary of Qingshan Iron and Steel Group, intends to engage in research and development, production and sales of new energy materials and their products in Wanwu Town, Fuan . In order to speed up the implementation of the ternary materials project in the investment framework agreement, Fu'an Municipal People's Government (hereinafter referred to as "Party A") and Fuan Qingmei Energy Materials Co., Ltd. (hereinafter referred to as "Party B", a subsidiary company of the company) according to relevant laws And regulations, in accordance with the principles of equality, mutual benefit and common development, and through friendly negotiations, signed the "Investment Agreement for Power Battery Ternary Positive Material Project" on September 18, 2018.
It is understood that the total investment of the project is about 1.85 billion yuan, and the annual output of 50,000 tons of power ternary material precursor materials and 20,000 tons of ternary cathode material project will be constructed.
GEM said that the signing of this investment agreement is to implement the relevant three aspects of the "Investment Framework Agreement on the Construction of Power Battery Materials and Circular Economy Industrial Parks" signed with the Ningde City Government, Fuan City Government, and Qingtuo Group Co., Ltd. Meta battery material project content. The signing of this agreement will effectively promote the implementation of the power battery material projects in the above agreement, focus on local policies, markets, resources and technological advantages, accelerate the speed of strategic hand-in-hand nickel resources and downstream markets, and accelerate the realization of "resources + technology + markets" "The dramatic change effect will accelerate the company's core competitiveness in the acquisition of front-end resources and back-end market share in the field of ternary material manufacturing, and accelerate the creation of a world-competitive cycle from nickel resources to ternary materials to ternary materials to venous circulation. Complete industrial chain manufacturing system, accelerate the construction of the world's advanced power battery raw material manufacturing base, provide lower cost and more competitive power battery materials for the development of global new energy electric vehicles, and fully meet the world's fast commercialization of new energy electric vehicles. The huge market demand for ternary materials in automobiles.