pennreelpursuit3| Xinzhoubang: Plans to build a US$350 million battery chemicals project in Louisiana, USA

China Securities Intelligent Financial News Xinzhoubang (300037) announced on the evening of May 21pennreelpursuit3, the company plans to build a battery chemical project in Louisiana, the United States, with its wholly-owned company, Xinzhou, or other newly established holding companies as the implementation entity.

According to the announcement, the project construction content includes an annual output of 200,000 tons of carbonate solvent and 100,000 tons of lithium-ion battery electrolyte, with a total investment of about 3pennreelpursuit3.500 million US dollars.

Recently, the U.S. state and the Louisiana government signed a "Tax Relief Agreement". The main content of the agreement is that Louisiana agrees to provide industrial tax based on the company's preliminary investment plan and on the premise that the project meets employment. A series of incentive plans such as tax exemptions, infrastructure construction subsidies, and quality employment plans. Among them, regarding the industrial tax exemption incentive plan, the local government provides partial tax exemptions for this project for up to 10 years, with an estimated total value of US$71.3 million. The final incentive amount will be based on the actual investment situation.

Xinzhoubang stated that this project is based on the deployment and arrangement of the implementation of the company's globalization strategy, adopting the company's independent intellectual property technology, green integrated process technology from ethylene oxide to carbonate solvents, and at the same time, it cooperates with raw material suppliers in the region to implement key raw materials. Partition supply, with the carbonate solvent and electrolyte manufacturing business as the core, aims to meet the demand for battery chemicals such as lithium-ion battery electrolytes in the North American market and deepen cooperation with long-term strategic customers. The implementation of this project is conducive to improving the company's overall market competitiveness and profitability, and is of great significance to the company's realization of high-quality and sustainable growth.

(Article source: China Securities Journal·China Securities Network)

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