en.Wedoany.com Reported - Changhong Energy announced on June 26 that it has received approval from the Mianyang State-owned Assets Supervision and Administration Commission, which in principle agreed to its subsidiary Changhong Sanjie's investment in building a high-rate lithium battery production line project in Malaysia, with an investment amount not exceeding 564.6026 million ringgit (approximately 999.3467 million yuan).

According to Changhong Energy's previous disclosure, the project plans to build one automated production line each for 18650 and 21700 series high-rate lithium-ion batteries in Malaysia. Upon reaching full production capacity, the project will generate an annual output of approximately 85 million 18650 series cells and 85 million 21700 series cells, adding a total of 170 million cells in capacity.

This investment is intended to be a fundraising project for Changhong Energy's 2026 targeted issuance of shares to specific investors. On the same day, Changhong Energy also announced that the Mianyang State-owned Assets Supervision and Administration Commission has issued a reply, in principle agreeing to the company's issuance of shares to specific investors, with the issuance targets being no more than 35 qualified investors meeting the regulations of the China Securities Regulatory Commission and the Beijing Stock Exchange, raising no more than 903 million yuan, and issuing no more than 45 million shares.

For the high-rate lithium battery production base construction project in Malaysia, 803 million yuan of the raised funds are planned to be used, with the remaining funds to be covered by the company's own or self-raised resources.