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Xiamen Tungsten New Energy has declared its intention to invest 600 million yuan in the establishment of a fully-owned subsidiary, namely Xiamen Canghai New Energy Materials Co., Ltd. This subsidiary will undertake the investment and development of a high-performance battery materials project, boasting an impressive annual output capacity of 50,000 tons. The total estimated investment for this project stands at 1.525 billion yuan. Furthermore, the company has outlined plans to invest, via its fully-owned subsidiary Xiamen Tungsten Hydrogen Energy, in the development of a project focused on producing 5,000 tons of hydrogen energy materials and 7,000 tons of functional materials annually. This project is projected to require a total investment of 237 million yuan, which will be financed through a combination of the company's own funds and loans.
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