Nord Group plans to set up a production base in Europe

Nord shares plans to invest in and establish a production base in Wallonia, Belgium, Europe. The first phase of the project plans to invest in the construction of an annual production capacity of 30,000 tons of lithium battery copper foil, 1 million FDC sheets, and 1 million PI heating films. The total investment of the project is expected to be 500 million euros. The company is mainly engaged in the research and development, production and sales of electrolytic copper foil for lithium-ion batteries. Its main customers include CATL, BYD, etc. Nord shares sold 45,400 tons in 2023, a year-on-year increase of 7.2%. The capacity utilization rate dropped to 56.3%. The company is mainly engaged in the research and development, production and sales of electrolytic copper foil for lithium-ion batteries. Its main customers include CATL, BYD, etc. Nord shares' copper foil revenue in 2023 was 4.046 billion yuan, a year-on-year decrease of 5.63%, and the gross profit margin dropped to 8.11%.