On October 26, XTC New Energy announced that its controlled subsidiary, Ya'an XTC New Energy, plans to invest in and construct the Phase IV Ya'an project with an annual capacity of 40,000 tonnes of lithium iron (manganese) phosphate, with a total estimated investment of Yuan 723 million, including fixed asset investment of Yuan 676 million and initial working capital of Yuan 47 million, funded by its own funds and self-raised funds. The project has a construction period of 18 months and is scheduled to commence production in June 2028.
Upon completion of the project, Ya'an XTC New Energy's lithium iron (manganese) phosphate capacity will reach 120,000 tonnes per year. The investment has been reviewed and approved by the company's board of directors, does not need to be submitted to the shareholders' meeting for review, and does not constitute a related-party transaction or a major asset restructuring.
Edited by Cassie Li, lixiangying@mysteel.com
