Suzhou K-Hiragawa Electronic Technology (603052.SH): Received the first small order from a well-known international consumer electronic battery manufacturer for composite aluminum foil.

Suzhou K-Hiragawa Electronic Technology (603052.SH) disclosed the progress of the lithium battery new composite material project, stating that as of the announcement disclosure date, the company has obtained the state-owned construction land use rights required for the project, with a land area of approximately 200 acres. The construction of the main plant of the first phase of the project is basically completed, some structures have been topped out, and the project progress is in line with expectations. As of the announcement disclosure date, the company has purchased pilot lines and large-scale production lines, and will send samples of the trial products from the large-scale production line to customers for verification in the third quarter of 2024. The company recently received the first small order for composite aluminum foil from a well-known international consumer electronic battery manufacturer. The company receiving the first order for composite aluminum foil represents the initial recognition of the company's technical capabilities and composite aluminum foil products for consumer electronic batteries by customers. The existing product solutions and technological paths of the company are feasible, and further confirm the demand for composite aluminum foil products in downstream terminal applications. This plays a guiding role in accelerating the advancement of the project and accelerating production capacity in the next phase. The construction of the composite current collector project aligns with the company's long-term strategic planning and helps improve the company's layout of the new material industry chain, positively impacting the company's future business performance. The company will firmly seize market opportunities, increase research and development investment, accelerate project advancement, strive to better serve customers, meet downstream demand, and create greater value for all shareholders.