With the rapid growth of the lithium-ion battery market share, in 2018, the company will concentrate its advantages to promote the development and industrialization of lithium batteries and new lithium salts, fluorine-containing solvents, and cathode materials. Accelerate the construction of an annual output of 300 million AH power lithium battery projects, new energy vehicle powertrains and supporting projects, and achieve the goal of an annual output of 10GWH power lithium battery production scale as soon as possible. In terms of new energy vehicles, the company will rely on its subsidiary Hebei Redstar Motors to integrate resources and increase research and development efforts, build a new energy vehicle production line with an annual output of 100,000 vehicles, explore new business models, and further the new energy vehicle industry.

　　The announcement also stated that because the company’s main raw materials-lithium carbonate, separators, anode and cathode materials, electrolytes, sulfuric acid, fluorite, aluminum hydroxide and other costs account for higher production costs, the company faces the price of lithium, fluorine and other mineral products. The company will take measures to strengthen the reserve of raw materials in short supply, continue to improve the utilization efficiency of existing materials, and strictly control production costs to reduce the cost risk to the company once the price of raw materials fluctuates sharply in the future.