Antaike, May.26(Beijing)-Guangdong Guanghua Sci-Tech Co., Ltd (GHTECH) announced on the evening of May 25 that, the Board of Directors of the company agreed that the company shall construct a project of efficient and comprehensive utilization of waste lithium batteries and expansion of high-performance battery materials in the existing factory area, with a total investment of RMB 454 million, including construction investment of RMB 329 million and initial working capital of RMB 125 million.

This high efficiency and comprehensive utilization of waste batteries and high performance battery material extension project particularly includes waste LFP cathode material recycling project, lithium battery anode material comprehensive utilization project, LFP extension project, iron phosphate extension project, etc. The construction period of this project is 24 months with self-raised funds. After the completion of the project, it is expected to achieve an operating income of RMB863 million per year and a total profit of RMB97.1235 million per year.

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