On January 5, Fulian Precision Machinery unveiled two significant investment announcements. Its subsidiary, Jiangxi Shenghua New Material Co., Ltd., is set to enter into agreements with the People's Government of Ejin Horo Banner and Uxin Banner in Ordos City, Inner Mongolia, as well as with Inner Mongolia Zhuozheng Coal Chemical Co., Ltd. These agreements encompass investments in the development of a high-end energy storage lithium iron phosphate project with an annual capacity of 500,000 tons, along with two precursor material projects: an oxalic acid project with an annual output of 400,000 tons and a ferrous oxalate project with an annual production capacity of 600,000 tons. The cumulative estimated investment for these three projects stands at 8.7 billion yuan, with the overarching goal of finalizing the new energy material industrial chain and bolstering the company's core competitiveness.