The project is located in Xianyou County, Fuzhou City, Fujian Province. The project covers an area of 316 acres, with a planned total investment of 10 billion yuan to build a production line with an annual output of 60,000 tons of precursors + 40,000 tons of cathode materials. Among them, the first-phase investment is 5 billion yuan. After completion, the annual output of lithium battery materials will be 50,000 tons, and the annual output value will be 10 billion yuan. At present, the company registration, project construction land delisting and preparatory work have been completed, and the preparatory procedures such as site leveling, project feasibility study, planning and design are being promoted, and the construction will start in July 2023.