Invest 10 billion!

On the evening of May 18, Anhui Chaohu Economic Development Zone and Rongjie Group signed a cooperation agreement, and the Rongjie lithium battery material project settled in Hefei
.
Yu Aihua, Member of the Standing Committee of the Provincial Party Committee and Secretary of the Hefei Municipal Party Committee, negotiated with Lv Xiangyang, Chairman of Rongjie Group, and witnessed the signing
.

The total investment of this contracted project is 10 billion yuan.
It mainly uses new energy vehicle power battery regeneration technology to develop, produce and sell lithium-ion battery cathode material precursors, cathode materials and carbon anode materials.
After reaching production, it can achieve an annual output value of nearly 20 billion yuan.

.

Rongjie Investment Holding Group Co.
, Ltd.
was founded in 1995 by Lu Xiangyang
.
Lv Xiangyang's other well-known identity is the cousin of BYD founder Wang Chuanfu, who invested 2.
5 million to help Wang Chuanfu set up BYD
.

Rongjie Group Co.
, Ltd.
(formerly known as Luxiang Co.
, Ltd.
), a new energy material enterprise under Rongjie Group, was established in 1998 and listed on the Shenzhen Stock Exchange on December 5, 2007.
The most upstream is the mining and selection of lithium ore resources, the middle is lithium salt and deep processing, and the downstream applications are differentiated into the lithium battery industry, lubricants, lithium metal and alloys, and other organic synthesis industries.
The path development of hydrometallurgical smelting and deep processing, lithium battery and battery control system, terminal applications are consumer electronic products, mobile power tools, new energy vehicles, energy storage facilities,
etc.

In 2014, Rongjie Group won the control of Luxiang Co.
, Ltd.
(now Rongjie Co.
, Ltd.
), mainly engaged in lithium mining and lithium salt production, and holds the largest solid spodumene mine in Asia - Kangding City, Ganzi Prefecture, Sichuan.
Methyl spodumene ore
.
It was only in March last year that ST's Rongjie shares were released.
The current market value has exceeded 30 billion yuan, and it has made a lot of profits from the surging lithium price
.
The most important customer of Rongjie is BYD
.

According to the 2022 first quarter report of Rongjie, the company's main income was 478 million yuan, a year-on-year increase of 339.
46%; net profit attributable to the parent was 254 million yuan, a year-on-year increase of 13996.
26%; non-net profit deducted was 253 million yuan, a year-on-year increase of 19078.
87%
.