Shenghong Group invests 18.6 billion yuan in the new energy sector! ! Construction of Shenghong’s new materials project in Yichang, Hubei begins

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Recently, the ceremony marking the simultaneous commencement of major projects in Yichang City, Hubei Province, for the third quarter of 2023, as well as the launch of Shenghong Holding Group’s Hubei Haiges lithium-ion new materials project, was held in Yidu. Xiong Zhengyu, Secretary of the Yichang Municipal Party Committee, announced the simultaneous commencement of major projects in Yichang during the third quarter. The Hubei Haiges Lithium Battery New Materials project of Shenghong Holding Group is located in the Yidu City Chemical Industry Park. With a total investment of 18.6 billion yuan and covering an area of 2,440 mu, the project focuses on the construction of production facilities capable of manufacturing 500,000 tons of ferric phosphate and 300,000 tons of lithium iron phosphate per year, along with associated auxiliary facilities. Phase 1 of the project (100,000 tons of iron phosphate and 100,000 tons of lithium iron phosphate) is expected to be completed and put into operation in the second half of 2024. Once fully operational, it will generate an output value of around 27.8 billion yuan and tax revenues of about 1.2 billion yuan. This project is the industrial project with the largest single-investment amount in Yidu City, and it also serves as the flagship project for Yidu City’s new energy and new materials industry cluster worth 100 billion yuan. The completion of this project will make a positive contribution to Yichang’s efforts to develop a world-class phosphorus-based new materials industry cluster as well as to its strategic development of the \"3+2\" key industries. The Hubei Haiges Lithium Battery New Materials Project of Shenghong Holding Group is one of the key projects in Shenghong’s effort to create a new \"1+N\" framework for diversified industrial chains in areas such as new energy, new materials, electronic chemistry, and environmental protection. Leveraging the advantages of the Central China market and the location of Yichang in Hubei Province, this project is structured in line with Shenghong’s diversified industrial chain. By adopting a model of \"a large platform for chemical raw materials + new energy and new materials\", it has quickly entered the fields of lithium batteries and energy storage.