60GWh Energy Storage Battery Super Factory!

According to Shenghong Group's official Weibo account, on July 18th, a major industrial project promotion meeting was held in Zhangjiagang, Suzhou City. Shenghong Holdings Group's Energy Storage Battery Super Factory and New Energy Battery Research Institute projects were officially launched at the site. The project's overall planned capacity is 60GWh, with a total investment of 30.6 billion yuan, aiming to establish an integrated base for new energy battery and system R&D, testing and certification, and manufacturing. The project's cost control ratio of core raw materials is expected to exceed 65% after completion.

The project will be implemented in stages, and the estimated annual revenue is expected to exceed 56 billion yuan after reaching full production. The first phase of the project, a 24GWh facility that was implemented immediately after signing the contract, and the independent entity, New Energy Battery Research Institute, with a total investment of 14 billion yuan, are planned to be completed and put into production within three years, with an estimated annual revenue of 24 billion yuan after reaching full production.

Founded in 1992, Shenghong Holdings Group Co., Ltd. is a leading private enterprise in the economy and has developed a pattern of simultaneous development in the "oil, coal, and gas" sectors, and parallel development in the "aromatic hydrocarbon" and "olefin" sectors, with a complete upstream and downstream industrial chain.

On October 29, 2022, Shenghong Group announced its entry into the "new energy storage" field, and the Energy Storage Headquarters project was signed and settled in Wujiang, Suzhou, marking the official entry into the energy storage track. The project focuses on lithium batteries and energy storage system integration, aiming to build a complete industrial chain from materials, battery cells, modules to end products. The project plans a capacity of 50GWh, with a total investment of 20 billion yuan.

In November 2022, Shenghong Group's core listed subsidiary, Dongfang Shenghong, announced that its second-tier holding subsidiary, Hubei High-Tech New Energy Co., Ltd., plans to invest in the construction of supporting raw materials and new energy materials projects such as iron phosphate and lithium iron phosphate. The total investment of the project is 18.684 billion yuan. The construction period is 2 years and includes a 400,000 tons/year wet-process phosphoric acid unit, a 280,000 tons/year wet-process phosphoric acid purification unit, a 500,000 tons/year iron phosphate unit, and a 300,000 tons/year lithium iron phosphate unit.

In December 2022, Shenghong Group once again officially announced the signing of a 25GWh new energy storage battery and system integration project, with a total investment of 12 billion yuan. It is estimated to achieve annual sales revenue of approximately 25 billion yuan and annual profit and tax of about 2.5 billion yuan after production. According to the plan, the first phase of the project will invest about 3 billion yuan to build a 5GWh high-performance lithium-ion battery and system production line, aiming to achieve production by the end of July 2023 and mass production by the end of December 2023.