Dowstone to raise funds for power battery material products
2020-02-28 14:15:12 [Print]
On the evening of February 27, Dowstone announced its private placement for A shares, planning to raise not more than RMB1.72 billion (USD246 million) for projects including 30,000tpa power battery cathode material precursor project, 100tpa high electroconductibility graphene and 150tpa carbon nanometer pipe project, 5,000tpa cobalt intermediate (metal tonnage) and 10,000tpa cathode copper project as well as for repaying bank loans and supplementing working capital.
Dowstone stated that the above projects enable it to take opportunity in development of LNCMO power battery and new energy auto industries, expand its production capacity of new energy materials, further increase synergistic effects from upstream raw ores, cobalt chemicals, midstream LNCMO precursor to power battery cathode material conductive agent, and enhance its overall profitability and market competitiveness.
Dowstone stated that the above projects enable it to take opportunity in development of LNCMO power battery and new energy auto industries, expand its production capacity of new energy materials, further increase synergistic effects from upstream raw ores, cobalt chemicals, midstream LNCMO precursor to power battery cathode material conductive agent, and enhance its overall profitability and market competitiveness.
LNCMO 523 Delivered China
Unit:RMB/kg
China lithium nickel cobalt manganese oxide producers' sales to production ratio statistics by province by month
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