In a recent statement, Xiamen Tungsten New Energy revealed its intentions to establish a wholly-owned subsidiary, named Hong Kong Xiamen Tungsten New Energy, in Hong Kong. Leveraging this subsidiary, the company will forge a joint venture with EMI in Malaysia, aiming to create a controlling subsidiary. Together, they plan to invest approximately US$64.58 million (equivalent to around RMB 450 million) in constructing a project boasting an annual production capacity of 10,000 tons of lithium-ion cathode materials. The funding for this project will be sourced from the company's own reserves and raised capital. The construction phase is anticipated to span from September 2026 to June 2027. This strategic investment is designed to bolster the company's overseas production capacity, thereby catering to the burgeoning demand in international markets. Importantly, this move does not entail any related-party transactions or major asset restructuring.