Huasheng Lithium Battery: Subsidiary Xianghe New Energy acquired land use rights for 59.25 million yuan.

HuaSheng Lithium Battery Co., Ltd. announced that its subsidiary, Xianghe New Energy, has acquired a plot of land in Yuxian County, Xiaogan City, Hubei Province through bidding and auction for a total of 59.25 million RMB. The plot has a land area of 151,900 square meters with the land use designated for industrial purposes, and has a 50-year term of transfer. The acquired land use rights will be used for the production and construction of the "Annual production of 60,000 tons of carbonic ethylene project", which is in line with the company's strategic development plan and will not have any adverse impact on the company's financial and operational conditions.