30 Billion Yuan! Ronbay to Launch Lithium Battery Material Project in Hubei Province

PVTIME – Ningbo Ronbay New Energy Technology Co., Ltd.(688005.SH), a high-tech new energy material enterprise for R&D of lithium battery material, has signed to launch Lithium Battery Cathode Material Manufacturing Base with an annual output of 400,000 MT of lithium battery materials in Xiantao City, Hubei province, China, on March 29, with a total investment of 30 billion yuan. A Ronbay technology college and battery industry investment funds are also involved in the agreement.

On March 30, Ronbay Technology released an announcement that it intends to issue A-share to specific objects, raising no more than 6.068 billion yuan for the expansion project of lithium battery cathode materials, the phase I of its 2025 power lithium battery material base, phase I of its engineering equipment projects and supplements.

On the same day,Ronbay Technology released its annual report 2021. During the reporting period, the company achieved operating income of 10.259 billion yuan, a year-on-year increase of 170.36%. The net profit attributable to shareholders of listed companies was 911 million yuan, a year-on-year increase of 327.59%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 808 million Yuan, a year-on-year increase of 404.73%. The basic earnings per share was 2.06 yuan, a year-on-year increase of 329.17%. The company plans to distribute 2.05 yuan (tax included) for every 10 shares to all shareholders.