Guangzhou Sanfu New Materials Technology (SHA:688359) plans to construct a plant for a high-safety dry electrode batteries and high-frequency electronic information composite materials for 620 million yuan, according to a Wednesday disclosure on the Shanghai bourse.
The Chinese chemical product manufacturer will construct and manage the project through its subsidiaries, Jiangxi Bangyue New Materials Technology and Bangxiang (Jiangxi) New Materials Technology.
The plant will produce 5 gigawatt-hours of dry electrode battery every year and 4.7 million square meters of high-frequency electronic information composite materials.
The construction is expected to start in June this year and to be completed by the end of 2027.
Sanfu's shares closed less than 4% lower.
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