At noon on December 14, 2021, Xinwangda issued an announcement stating that its subsidiary Xinwangda Electric Vehicle Battery Co., Ltd. intends to establish a project company in the Zaozhuang National High-tech Industrial Development Zone to be responsible for the construction of "an annual production capacity of 30GWh power batteries and energy storage batteries in Zaozhuang." project". As of the announcement date, Xinwangda Automotive Battery and Zaozhuang Management Committee have signed the "Project Investment Agreement." The total investment of the project is about 20 billion yuan, of which the fixed asset investment is about 15 billion yuan, which is mainly used to build production lines for power batteries, energy storage batteries and related supporting facilities with an annual production capacity of 30GWh.

In terms of performance, in the third quarter of 2021, Xinwangda achieved revenue of 2,182,903,841.22 yuan, a year-on-year increase of 132.81%, and achieved revenue of 5,171,471,657.89 yuan in the first three quarters, a year-on-year increase of 155.00%%; in the third quarter, it achieved revenue attributable to shareholders of listed companies Net profit was 280,445,915.60 yuan, a year-on-year increase of 136.63%.

Up to now, Xinwangda's consumer lithium-ion batteries and power battery batteries have been mass-produced and shipped, and it is in a leading position in the field of lithium batteries. Xinwangda’s energy storage business is based on lithium battery energy storage integration and application technology, focusing on grid energy storage, industrial and commercial energy storage, home energy storage, network energy and integrated energy service businesses, providing customers with energy storage systems and overall solution. At present, the energy density of its mass-produced power batteries is 260-280Wh/kg, and the endurance is 600-700km.

Xinwangda pointed out that the company’s investment in the construction of the “Zaozhuang Project with an annual production capacity of 30GWh power batteries and energy storage batteries” is to fully promote the company’s power battery and energy storage battery business operations and development, which is in line with the company’s Strategic needs are conducive to enhancing the company’s comprehensive competitiveness in power battery and energy storage battery business, further improving the company’s layout in the new energy industry chain and meeting the company’s future new energy business development and market expansion needs. The future development of the energy storage battery business plays an important and positive role. Editor/Sang Xiaomei