On November 18, Xiamen Tungsten New Energy made two official announcements, revealing that its board of directors had given the green light to two substantial investment projects, with the combined investment surpassing 1.7 billion yuan. The inaugural project entails the establishment of a wholly-owned subsidiary tasked with constructing a high-performance battery materials facility. This facility is projected to have an annual production capacity of 50,000 tons, with the total investment estimated at 1.525 billion yuan. The second project, spearheaded by its wholly-owned subsidiary Xiamen Tungsten Hydrogen Energy, focuses on the construction of a project aimed at producing 5,000 tons of hydrogen energy materials and 7,000 tons of functional materials annually. The total investment for this project is estimated at 237 million yuan. This strategic move is designed to capitalize on industry development prospects, bolster market competitiveness, and delve into novel growth avenues within emerging business sectors.