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On June 27, Xiamen Tungsten New Energy Materials Co., Ltd. made an announcement stating its intention to set up a wholly-owned subsidiary, namely Hong Kong Xiamen Tungsten New Energy Co., Ltd., in Hong Kong. Leveraging this subsidiary, the company will enter into a joint venture with Malaysian firm Established Metal Industries Sdn Bhd to undertake a project in Malaysia. This project is designed to produce 10,000 tons of lithium-ion cathode materials on an annual basis, with a total investment amounting to roughly USD 64.58 million (approximately RMB 450 million). The construction of the project is slated to take place from September 2026 to June 2027. The overarching goal is to optimize the overseas production capacity layout, effectively cater to the demands of overseas markets, and further solidify its internationalization strategy.
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