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On the evening of November 18th, Fengyuan Group announced that Shandong Fengyuan Lithium Energy Technology Co., Ltd., a wholly-owned subsidiary of the company, plans to implement an annual production of 10000 tons of lithium battery positive electrode material lithium iron phosphate construction project. The total investment of the project is about 420 million yuan, including a construction investment of 360 million yuan, preliminary and other funds of 60 million yuan. The required funds will be raised by the company itself. The project is located in Taierzhuang Economic Development Zone, Zaozhuang, Shandong, covering an area of 33350 square meters. It will be constructed in two phases, with the first phase lasting 10 months and the second phase completed within two years. The company plans to conduct technical cooperation with the 43rd Research Institute of China Electronics Technology Group Corporation, adopting a path of cooperative research and development, introduction and absorption, and independent innovation to control the technological direction. After the project is fully completed, based on the current market situation, it is expected to achieve an average annual sales revenue of 1.025 billion yuan and a total annual profit of approximately 220 million yuan.

The announcement states that the implementation of the above projects marks the company's official entry into the field of new energy lithium battery positive electrode materials, which is conducive to expanding the company's main business scope, further optimizing the company's industrial product structure, promoting the company's transformation and upgrading, improving the company's comprehensive efficiency level, enhancing competitive strength and market risk resistance, and promoting the company's sustained, healthy, and rapid development.

Professional analysis shows that Fengyuan Group's main business is the research and development, production, and sales of oxalic acid series products (including industrial oxalic acid, refined oxalic acid, and oxalic acid derivatives), belonging to the chemical industry. In the oxalic acid industry, Fengyuan Group has a clear advantageous position. But the company saw that the country is vigorously promoting the new energy industry, and lithium battery new energy vehicles, as one of the seven strategic emerging industries in China, have received key support from relevant national policies. In lithium batteries, positive electrode materials occupy the most important position, and lithium iron phosphate, as the most ideal positive electrode material for lithium batteries, is widely used and has a huge market. More importantly, there is a close upstream and downstream relationship between the lithium iron phosphate cathode material and the company's current leading products. Therefore, the company takes this as a starting point and extends its product industry chain downstream by implementing a lithium iron phosphate construction project, entering the most important segmented industry in the new energy battery field with broad development prospects. With the implementation of this project, the company will extend its industrial chain to areas with high added value and a broad market, which will become a new profit growth point for the company in the future.

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