Yiwei Lithium Energy announced the issuance of 5 billion yuan of convertible bonds for battery production projects

On September 9, Yiwei Lithium Energy (300014.SZ) announced that it would issue convertible bonds of 5 billion yuan. After deducting the issuance costs, it plans to invest the net amount of funds raised in the 23GWh cylindrical lithium iron phosphate energy storage power battery project and the 21GWh large cylindrical passenger car power battery project. These two projects require investments of 3.1 billion yuan and 1.9 billion yuan respectively. According to Yiwei Lithium Energy’s announcement, by the end of 2023, the company’s lithium battery production capacity will have reached 84GWh. It is expected that by 2025, the company’s put into production projects will release 126GWh of production capacity, and the total production capacity will reach 210GWh, which will be expanded by about 2 times in two years. In addition, the company also predicts that by 2027, the total production capacity will reach 328GWh, and the production capacity will expand by about 3 times in four years. In the announcement, Yiwei Lithium Energy also mentioned that as of the end of 2023, the company's cylindrical lithium iron phosphate batteries have obtained a total of approximately 88GWh of customer intended demand in the next five years, and the ternary large cylindrical batteries have obtained a total of approximately 486GWh of customer intended demand in the next five years.