On February 2, Fulin Precision Works convened a board meeting and approved two investment resolutions. These moves are aimed at deepening its footprint in the new - energy sector, fostering supply - chain collaboration, and elevating its overall competitiveness within the realm of lithium - ion battery cathode materials.
First, Fulin Precision Works has set its sights on collaborating with CATL to jointly inject capital and expand the shareholding of its holding subsidiary, Jiangxi Shenghua. This strategic partnership is expected to bring in fresh resources and expertise, further solidifying Jiangxi Shenghua's position in the market.
Second, the board also green - lit a proposal concerning the signing of a 'Project Investment Cooperation Agreement' between Jiangxi Shenghua and Guizhou Dalong Huicheng. The two entities plan to jointly establish a joint venture. Their shared goal is to construct a new project that boasts an annual production capacity of 500,000 tons of ferrous oxalate. This ambitious project has the potential to significantly enhance the supply of crucial upstream materials for the lithium - ion battery industry.