en.Wedoany.com Reported - Xiamen Tungsten New Energy Materials Co., Ltd. (referred to as XTC New Energy) announced on June 27 that it plans to establish a joint venture through its wholly-owned subsidiary in Hong Kong with Malaysian company Established Metal Industries Sdn Bhd (EMI) to build a lithium-ion cathode material project with an annual output of 10,000 tons in the local area, with a total investment of approximately USD 64.58 million.

According to the announcement, the project will be implemented by a controlled subsidiary tentatively named "Malaysia XTC New Energy Co., Ltd.," with a registered capital of USD 45.206 million. Among this, XTC New Energy Hong Kong will contribute USD 40.6854 million, holding a 90% stake; EMI will contribute USD 4.5206 million, holding a 10% stake. The project is located in Ulu Selangor District, Selangor, Malaysia, with a construction period from September 2026 to June 2027, totaling 10 months. EMI will provide the land and be responsible for building customized factories based on process requirements, which will then be leased to the joint venture company. The joint venture will carry out adaptive renovations, modifications, and equipment installation.

XTC New Energy stated that this investment aims to improve its overseas production capacity layout, provide nearby support to customers, and meet overseas market demand, thereby strengthening the company's internationalization strategy. Once operational, the project will add an annual production capacity of 10,000 tons of lithium-ion cathode materials, which is expected to enhance the company's revenue and profitability in the long term.

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