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On the evening of August 31, Baolixin (300116) announced that in order to expand the company's business layout and promote the company's new energy lithium battery business to become bigger and stronger, through friendly negotiation between Baolixin and the Huangshi Tieshan District government, they reached an agreement on the cooperative investment in the construction of 5GWh lithium battery cell production project and signed the Project Investment Cooperation Agreement. The company plans to invest in the construction of 5GWh lithium battery cell production project in Huangshi Tieshan District.

The notice shows that the total investment of the project is about 2.5 billion yuan, and it will be constructed in two phases. Among them, the first phase investment is 1 billion yuan, with a land area of about 200 acres, and the planned production capacity of lithium-ion power lithium batteries is 2GWh; The second phase investment is 1.5 billion yuan, and the planned production of lithium-ion power lithium batteries is 3GWh.

Baolixin stated that the company's proposed external investment can fully utilize the advantages of the Huangshi Tieshan District government in industrial supporting services, preferential policies, and resource introduction to further expand the company's business layout, promote the company's new energy lithium battery business to become bigger and stronger, and comply with the company's current strategic planning and business development needs.

It is understood that Baoli was newly established in 2005 and has been focusing on the innovative research, development and production of lithium iron phosphate battery technology. Its important products are 32700 cylindrical lithium battery, battery management system (BMS), power lithium battery and energy storage battery pack. The product is widely used in various types of light electric vehicles, hybrid vehicles, as well as new energy ships and energy storage fields. Its plan for 2021 is to achieve an annual production of 5GWh of battery cells and 5 million sets of battery packs.

In the first half of this year, Poly achieved a revenue of 85.3521 million yuan, a year-on-year increase of 411.13%; The net profit attributable to shareholders of the listed company was -55.0507 million yuan, a year-on-year decrease of 12.45%.

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