According to the Aiqicha App, Hubei Huaxing New Energy Co., Ltd. was recently established, with Xu Xiaolei as the legal representative and a registered capital of 600 million yuan. The company's business scope covers battery manufacturing and sales, emerging energy technology research and development, as well as the recycling and cascading utilization of spent power batteries from new energy vehicles (excluding hazardous waste operations). A equity penetration [Note: This term ' equity penetration ' can be translated as 'equity penetration' or more naturally in this context as 'shareholding structure analysis'] reveals that the company is jointly held by Wanhua Chemical (Yantai) Battery Industry Co., Ltd. and Hubei Xingfa Chemical Group Co., Ltd.
