Securities Code: 301358
Securities Abbreviation: Hunan Nueng
Announcement Number: 2026-050
Hunan Nueng New Energy Battery Material Co., Ltd.
Announcement on Termination of Partial Overseas Investment Projects
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
Hunan Nueng New Energy Battery Material Co., Ltd. (hereinafter referred to as the "Company") held its 23rd meeting of the Second Board of Directors on July 16, 2026, and approved the "Proposal on Terminating Partial Overseas Investment Projects." Directors Tan Xinxiao, Zhao Huaiqiu, and Wang Yongmei abstained from voting. The Company agreed to terminate the investment and construction of a 500,000 tons/year copper smelting and supporting project (supporting projects refer to by-products such as copper smelting, sulfuric acid, and steam, hereinafter the same) in the Shuanglong Industrial Park, Fuquan City, Guizhou Province. Accordingly, the related joint investment arrangement originally planned based on this project will also be terminated. The Company's management has been authorized to handle all procedures and matters related to the termination of this overseas investment.
In accordance with the "Rules Governing the Listing of Stocks on the ChiNext Market of the Shenzhen Stock Exchange," relevant laws and regulations, and the "Articles of Association," the termination of the overseas investment project does not constitute a related party transaction, nor does it constitute a major asset restructuring as defined by the "Measures for Major Asset Restructuring of Listed Companies." The termination of this overseas investment project is subject to approval by the Company's shareholders' meeting. The relevant situation is hereby announced as follows:
I. Overview of Overseas Investment
The Company held its 6th meeting of the Second Board of Directors and the 6th meeting of the Second Supervisory Board on June 28, 2024, and its first extraordinary shareholders' meeting for 2024 on July 19, 2024. The proposal "On Overseas Investment and Related Party Transactions" was approved, agreeing to invest and construct a 500,000 tons/year copper smelting project, and an additional 300,000 tons/year lithium iron phosphate, and 300,000 tons/year ultra-long cycle and ultra-high energy density lithium phosphate cathode material production project in Shuanglong Industrial Park, Fuquan City, Guizhou Province. The Company signed a "Strategic Cooperation Agreement" with the People's Government of Qiannan Buyei and Miao Autonomous Prefecture, Guizhou Province, and signed a "Project Investment Contract" with the People's Government of Fuquan City, Guizhou Province, regarding the specific matters of the project. The project will be constructed in multiple phases. The first phase involves an investment of 3.5 billion yuan to construct a 200,000 tons/year copper smelting project with by-product production of 800,000 tons/year sulfuric acid and 800,000 tons/year steam (sulfuric acid and steam are by-products). Subsequent projects will be constructed in phases based on the development of the first phase and market demand.
To implement the copper smelting and supporting project of this investment, the Company plans to introduce an employee stock ownership platform and a third party to jointly establish a joint venture company with a registered capital of 1.5 billion yuan. The Company's proposed capital contribution ratio is 65%-70%, not exceeding 1.05 billion yuan. The employee stock ownership platform and the third party's combined capital contribution ratio will not exceed 35%, not exceeding 525 million yuan. Given that some directors, supervisors, and senior