China Baoan Group cooperates with STELLAR to invest in lithium battery negative electrode material project in Indonesia

BTR (Hong Kong), a wholly-owned subsidiary of China Baoan Group, has reached a cooperation agreement with STELLAR to jointly invest US$299 million to build an integrated project of new energy lithium battery negative electrode materials with an annual output of 80,000 tons in Indonesia. BTR (Hong Kong) increased its capital by US$62.79 million and STELLAR increased its capital by US$41.86 million. After the project is completed, BTR (Hong Kong) will hold 60% of the equity of the joint venture.