Honeycomb Energy and Zhongwei New Materials jointly established Ivy Renewable Resources (Shangrao) Co., Ltd.

In September 2022, Ivy Recycling Resources (Shangrao) Co., Ltd. was officially launched in Shangrao Economic Development Zone. The company was jointly established by Ivy Recycling Resources (Shangrao) Co., Ltd., which is 100% controlled by Honeycomb Energy, and Guizhou Zhongwei Resource Recycling Industry Development Co., Ltd., a subsidiary of Zhongwei New Materials, with Ivy holding 51% and Zhongwei Recycling holding 49%.