Lions Technology to Establish Lithium-ion Battery New Materials Company

Lions Technology announced on the evening of March 1 that the company signed the "Investment Agreement" with Yuanzhibin, Chen Huangchunyan, and Yuanzhibin on February 28. The company plans to use its own funds to invest 50 million yuan in joint ventures with Chen Yi, Yuanzhibin, and Huangchunyan. Xinjiang New Central Asia Materials Technology Co., Ltd.(provisional name, The name of the approved registration of the industrial and commercial sector shall prevail; Referred to as "Central Asian New Materials", it mainly develops the research and development, production and sales of new materials such as high-grade electrolytic copper foil for lithium ion batteries. The registered capital of Central Asian new materials is 100 million yuan, and the company has invested 50 million yuan, accounting for 50 % of the registered capital of Central Asian new materials.

With the support of a series of national industrial policies, the new energy vehicles and power lithium battery industry has developed rapidly. As an indispensable raw material for power lithium batteries, the market demand for lithium copper foil has continued to expand. Lions Technology said that the establishment of this joint venture of new materials in Central Asia is in line with the company's industrial layout and development strategy in the new energy field, which helps to enhance the company's overall competitiveness and profitability, and is in line with the company's long-term development strategy and the interests of all shareholders.

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