On September 14, Longji shares (601012.SH) announced that the company ’s wholly-owned subsidiary Ningxia Longji Leye signed a project investment agreement with the Yinchuan Economic and Technological Development Zone Management Committee on September 13, 2018. Invested in the construction of a 5GW high-efficiency single crystal battery project and reached a cooperation intention.
According to the announcement, an annual output of 5GW high-efficiency monocrystalline battery construction and production projects will be constructed on the east side of Hongtu South Street and the south side of Kaiyuan West Road in Xixia District, Yinchuan City.
Longji said that the implementation of the project will help the company rely on Yinchuan's location advantage, give full play to the company's cost and high-efficiency battery core technology advantages, further increase the company's high-efficiency monocrystalline battery production capacity, and ensure the market's efficient monocrystalline capacity supply.