Xiamen Tungsten New Material Co., Ltd.(688778.SH) plans to invest 64.58 million US dollars in Malaysia to build a project with an annual production capacity of 10,000 tons of lithium-ion cathode materials.

The Zhitan Financial APP stated, Xiamen Tungsten New Energy (688778.SH) announced that the company plans to establish a wholly-owned subsidiary in Hong Kong, Hong Kong Xiamen Tungsten New Energy Limited (tentative name, abbreviated as "Hong Kong Xiamen Tungsten New Energy"), and to jointly establish Xiamen Tungsten New Energy (tentative name, abbreviated as "Malaysia Xiamen Tungsten New Energy") in Malaysia with Established Metal Industries Sdn Bhd ("EMI"). Malaysia Xiamen Tungsten New Energy will invest 64.58 million US dollars (approximately 450 million RMB) to carry out a project with an annual production capacity of 10,000 tons of lithium ion cathode materials.