Dongyu Xinsheng New Energy Co., Ltd. was established and started large-scale production projects

Dongyu Xinsheng New Energy Co., Ltd. was established on December 9, 2022 with a registered capital of RMB 500 million. Among them, Xinwanda Power holds 51%, Dongfeng Group holds 35%, and Dongfeng Hongtai holds 14%. The company is mainly responsible for operating a large-scale new energy power battery construction project with a total investment of 12 billion yuan and a planned annual output of 30GWh new energy power batteries. The project will be implemented in two phases. The first phase will invest about 8 billion yuan with a planned production capacity of 20GWh; the second phase will invest about 4 billion yuan with a planned production capacity of 10GWh.