On June 26, XTC New Energy announced that it plans to establish a wholly-owned subsidiary in Hong Kong, Hong Kong XTC New Energy, through which it will form a holding subsidiary in Malaysia via a joint venture with EMI, investing approximately US $64.58 million (equivalent to approximately Yuan 450 million) to build a 10,000-tonne-per-year lithium-ion cathode material project. The project will be funded by the company's own funds and self-raised funds, with the construction period scheduled from September 2026 to June 2027. This investment is aimed at improving the company's overseas production capacity layout and meeting overseas market demand, and does not constitute a connected transaction or a major asset restructuring.
Edited by Cassie Li, lixiangying@mysteel.com
