On September 26, 2019, the announcement of the Ningde era announced that the company’s eighth meeting of the second board of directors held on September 25, 2019 reviewed and approved the “Proposal on Investment in the Construction of Power Battery Yibin Manufacturing Base Project”. In order to further promote the company's battery production capacity, the company plans to invest in the construction of a power battery manufacturing base in Yibin City, Sichuan Province. The total investment of the project does not exceed RMB 10 billion.

According to the announcement, the project will be constructed in two phases. The first phase will start no more than 26 months from the start of construction. The second phase will be started within two years after the first phase of production, and the actual construction will prevail. The total area of the project is about 1000 mu, of which the first phase of the project covers an area of about 400 mu, and the second phase of the project covers an area of about 600 mu.

According to the announcement, Sichuan is an important base for the western automobile industry. It has a broad consumer market, a strong industrial base and strong technological innovation capabilities in the automotive sector. This investment will further improve the company's production capacity layout to meet the company's future business development and market expansion needs. The investment and construction of this project will increase the company's capital expenditure and cash expenditure, but in the long run, it will have a positive impact on the company's business layout and business performance, in line with the interests of all shareholders of the company.

It is understood that on September 25, the Ningde era signed a project investment agreement with the Yibin Municipal Government. The two sides will establish a comprehensive strategic partnership to build a new energy industrial base in the west. Ningde era plans to invest in the construction of power battery project in Yibin, and gradually build a complete new energy battery and upstream and downstream core industry chain system, and jointly build a new energy industrial base in western China based on Sichuan, facing the southwest, radiating the country and going to the Belt and Road.Editor / Zhao Jing