en.Wedoany.com Reported - China Xiamen Tungsten New Energy Materials Co., Ltd. (abbreviated as "XTC New Energy", 688778.SH) announced on June 26, 2026, that the company plans to establish a wholly-owned subsidiary, XTC New Energy (Hong Kong) Co., Ltd., in Hong Kong, and through XTC New Energy (Hong Kong) and EMI, set up a joint venture in Malaysia, XTC New Energy (Malaysia) Co., Ltd. The Malaysian subsidiary will invest $64.58 million (approximately RMB 450 million) to develop a 10,000-ton annual lithium-ion cathode material project.

Headquartered in Xiamen, Fujian Province, XTC New Energy is a subsidiary of Xiamen Tungsten Co., Ltd., specializing in the research, development, production, and sales of new energy materials. The company focuses on lithium-ion battery cathode materials, including lithium cobalt oxide, ternary materials, and lithium iron phosphate. With multiple production bases in China, XTC New Energy ranks among the top in the industry for cathode material shipments. The construction of this 10,000-ton lithium-ion cathode material project in Malaysia represents a key step in the company's globalization strategy, aimed at expanding overseas markets, getting closer to international customers, and improving the global supply chain system.

In recent years, Malaysia has actively developed its electric vehicle and battery industry chain, attracting numerous international new energy material companies to establish operations. The advancement of XTC New Energy's Malaysia project will help enhance the competitiveness of Chinese new energy material companies in the international market while supporting the development of Malaysia's new energy industry chain.

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