On April 15, Sichuan Jinhuineng New Material Co., Ltd. entered into an agreement with Yancheng municipal government to develop a high-end anode material project with a total planned investment of 5 billion yuan (691 million US dollars).

The project will mainly focus on R&D, production and sales of anode materials used for lithium battery. When fully operational, it would be able to produce 210,000 tonnes of synthetic graphite anode material, 40,000 tonnes of fast-charging carbonized material, and 2,500 tonnes of silicon-carbon anode material annually, with tax-included sales revenue expected to reach 6 billion yuan (829 million US dollars).