Tramway Exchange News: On the evening of July 20, Penghui Energy announced that the company plans to raise no more than 4.5 billion yuan, which will be used for the annual output of 10GWh energy storage battery projects (phases 1 and 2) after deducting the issuance fee of 1.3 billion yuan. Penghui Smart Energy Storage and Power Battery Manufacturing Base Project and Supplementary Working Capital. At the same time, it is planned to build an energy storage battery project with an annual output of 20GWh in the Zhizao New City of Quzhou City, Zhejiang Province, with a total investment plan of about 6 billion yuan.

The main business of Penghui Energy is the research and development, production and sales of lithium-ion batteries , primary batteries (lithium-iron batteries, lithium-manganese batteries, etc.) and nickel-metal hydride batteries. Its business scope covers digital consumer batteries, power battery systems, and energy storage fields (including Communication energy storage, power generation side energy storage, grid side energy storage and user side energy storage) and other fields are in the middle of the battery industry chain.

The funds raised by Penghui Energy will be mainly used to expand production capacity. Among them, 2.4 billion yuan will be invested in the "annual output of 10GWh energy storage battery project (phase one and two)". The total investment of the project is 3 billion yuan, which will be implemented through the establishment of a new subsidiary. The first phase of the project has a 5GWh energy storage lithium-ion battery capacity, and the construction period is 16 months; the second phase of the project has a 5GWh energy storage lithium-ion battery capacity, and the construction period is 18 months. The project mainly produces lithium-ion batteries and lithium -ion battery systems, which are used in the energy storage market, and can form an annual production capacity of 10GWh of energy storage lithium-ion batteries.

Another 800 million yuan is planned to be invested in the "Penghui Smart Energy Storage and Power Battery Manufacturing Base Project". The project is implemented by Liuzhou Penghui Energy Technology Co., Ltd., a wholly-owned subsidiary of the company, with a total investment of 1.2 billion yuan and a construction period of 15 months. It mainly produces lithium-ion batteries and lithium battery systems for energy storage and new energy. In the automotive market, an annual production capacity of 5.5GWh of lithium-ion batteries can be formed. In addition, the 1.3 billion yuan raised will be used to supplement the company's working capital.

"The smooth implementation of this fixed increase and fundraising project can effectively expand the production and sales scale of the company's lithium-ion battery products, improve the technical level and performance indicators of the company's core products, further improve the company's ability to meet market demand, and improve the company's market position. At the same time, continue to follow up the future market and technology development direction, improve the company's product structure, and then improve the company's overall competitiveness and anti-risk ability, and drive the company's profitability and sustainable development capabilities." Penghui Energy said.

On the evening of the same day, Penghui Energy disclosed that in order to further improve the company's production capacity layout and enhance the influence and comprehensive competitiveness of the company's energy storage business, it plans to build an energy storage battery project with an annual output of 20GWh in the Zhizao New City of Quzhou City, Zhejiang Province. The total investment plan of the project is About 6 billion yuan.

According to the project planning and construction cycle, the first phase of the project will build an energy storage battery project with an annual output of 5GWh. It is planned to start construction before the end of November 2022, and it will be completed and put into operation before the end of March 2024; Construction will start before the end of September this year, and it will be completed and put into operation before the end of March 2026; the third phase of the project will build an energy storage battery project with an annual output of 10GWh.