TEDA shares and CATL's holding subsidiary Guangdong Brunp signed a strategic cooperation agreement

On June 17, TEDA signed a strategic cooperation agreement with Guangdong Brunp, a subsidiary of CATL. The two parties will cooperate in the fields of policy research on the recycling of retired new energy vehicles and waste batteries, and the establishment of a recycling network system. Guangdong Brunp was established in 2005, with CATL holding a 65% stake. It focuses on recycling, resource and material businesses, and provides one-stop closed-loop solutions and services for the full life cycle management of batteries. In 2023, the battery materials and recycling business segment became CATL's third largest business, with revenue reaching 33.6 billion yuan, a year-on-year increase of 29%.