Ningde Times establishes new subsidiary.

According to the QiChaCha APP, recently, Dongying Era New Energy Technology Co., Ltd. was established, with Qu Tao as the legal representative and a registered capital of 2 billion yuan. Its business scope includes: research and development of emerging energy technologies; battery manufacturing; battery sales; manufacturing and sales of electronic specialty materials. According to the equity penetration displayed by QiChaCha, the company is wholly owned by Contemporary Amperex Technology Co. Limited (CATL).