On June 26, Xiamen Tungsten New Energy announced that the Company plans to establish a new wholly‑owned subsidiary in Hong Kong, namely Xiamen Tungsten New Energy (Hong Kong) Co., Ltd., and through this subsidiary, together with EMI, to set up a holding subsidiary in Malaysia via a joint venture. The project involves an investment of approximately USD 64.58 million (equivalent to about RMB 450 million) for the construction of a 10,000‑ton‑per‑year lithium‑ion cathode material project. The funding for the project will come from the Company’s own funds and self‑raised funds, with the construction period scheduled from September 2026 to June 2027. This investment is intended to improve the overseas production capacity layout and meet overseas market demand. It does not constitute a related‑party transaction or a major asset reorganization.

Recently, the groundbreaking ceremony for the French Neomat CAM power battery cathode material factory, jointly built by Xiamen Tungsten New Energy Materials Co., Ltd. (XTC) and French group Orano, was held in Dunkirk, marking the official start of full-scale construction. The Neomat CAM factory is located in the Grand Port Maritime de Dunkirk. With a total investment of approximately 500 million euros, it plans to produce 40,000 tons of power battery cathode materials annually and is scheduled to commence production in 2028. Neomat's comprehensive industrial layout will subsequently include core sectors such as precursors and strategic metal material recycling, aiming to build an integrated low-carbon circular industry platform.

On April 22, Xiamen Tungsten New Energy Materials Co., Ltd. issued an announcement regarding the relevant proposals to increase capital in its holding subsidiary, Ya'an XTC New Energy Materials Co., Ltd., and have it invest in the construction of an annual 40,000-ton lithium iron (manganese) phosphate project. This investment project is the third phase in Ya'an, an annual 40,000-ton lithium iron (manganese) phosphate project, with an estimated total investment of 734.29 million yuan, including fixed asset investment of 688.91 million yuan and initial working capital of 45.38 million yuan. The construction period is 25 months, with production scheduled to commence in June 2028.