1.6 billion yuan!

Sinochem Xinnet Shida Shenghua announced on November 7 that its wholly-owned subsidiary Shenghua New Energy Technology plans to invest 1.

On the same day, Shida Shenghua disclosed that its 51%-owned subsidiary Shenghua New Energy plans to build a 100,000-ton/year liquid lithium salt project with a total investment of 560 million yuan

The announcement pointed out that the construction period of the two projects is 15 months, and it is expected to be completed and put into operation in February 2023

Public information shows that Shida Shenghua's main electrolyte and solvent products have a market share of as high as 40%, and it is a high-quality raw material supplier for many domestic and foreign lithium-ion battery manufacturers

This time, Shenghua New Energy Technology, which plans to undertake a 300,000-ton/year electrolyte project, is mainly engaged in carbonate series products and methyl tert-butyl ether series products

The announcement shows that the main raw materials of the project rely on the existing equipment of Shenghua New Energy Technology, new energy companies, and new materials companies, and carbonates, liquid lithium salts, etc.

Shi Dashenghua said that as an electrolyte raw material manufacturer, the company currently has no electrolyte production and sales business.

Lithium batteries are composed of four major materials: positive electrode, negative electrode, separator, and electrolyte.

Regarding the investment in the liquid lithium salt project, Shi Dashenghua said that with the huge market demand and good development prospects of new energy vehicles and energy storage, the demand for liquid lithium salt will also increase year by year, so there is a stable demand for the products of this project.