Corun raises 1.6 billion yuan to expand production of lithium carbonate and energy storage projects

The company intends to issue shares to specific objects to raise a total of no more than 1.607 billion yuan (including the amount), after deducting issuance costs to invest in an annual output of 30,000 tons of battery-grade lithium carbonate projects, 3GWh energy storage system industrialization projects, big data intelligent energy storage management system technology development projects, new energy storage battery research and development and pilot projects. And replenish working capital and repay bank loans.

Corun said that this stage is a key stage for the company to achieve strategic transformation and seize the development window. The company accelerated the implementation of strategic transformation, optimized the industrial layout, focused its superior resources on batteries and battery materials, actively explored the energy storage market, and enhanced its core competitiveness. This fixed increase is the company's measures to promote the layout of lithium battery and energy storage industry around the development strategy.

The announcement shows that the company combines the development space and market demand in the fields of new energy batteries and materials, new energy storage, energy saving and new energy vehicles, and uses the company's accumulated technical experience in the battery industry over the years to implement the development strategy of a comprehensive return to the main industry of batteries, and carries out the lithium-nickel dual track layout.

"This raised capital investment project is the orderly layout of the company's return to the main business of batteries, the development of energy storage market and the realization of strategic transformation." Corun said.

Specifically, the annual output of 30,000 tons of battery-grade lithium carbonate project can help the company stabilize the upstream raw material supply of the energy storage industry, 3GWh energy storage system industrialization project to promote the company to comply with the downstream application trend of the energy storage industry, big data intelligent energy storage management system technology development project, new energy storage battery research and development and pilot projects will provide core support for the company to build lithium and energy storage industry chain.

According to the announcement, the annual output of 30,000 tons of battery-grade lithium carbonate project is intended to raise 790 million yuan. The project has obtained the Jiangxi Province Enterprise Investment Project Record Notice issued by Yifeng County Development and Reform Commission. The construction of this project will help the company to lock in the upstream raw materials of the industrial chain, and provide sufficient and reliable lithium resource guarantee for the research and development and production of lithium battery and energy storage industry.

In addition, in order to better grasp the development opportunities of the energy storage industry, the company intends to raise funds through this issue to carry out the construction of energy storage system industrialization projects and the development of energy storage related technologies, rely on the advantages of upstream raw materials, extend the layout to the energy storage ecological chain, keep up with the development of cutting-edge technologies in the industry, and strive to obtain a certain market share in the field of energy storage in the future. Inject growth momentum into the company's business performance.