New progress has been made in the related matters of the lion technology and Sanmenxia Investment Group and Henan Gaochuang to create a new energy industrial base in the Sanmenxia Demonstration Zone. Recently, Mengshi Technology announced that it has signed the "Lithium Battery Project Cooperation Agreement" with Sanmenxia Urban and Rural Integration Demonstration Zone Management Committee and Sanmenxia Investment Group, and invested RMB 2.5 billion in the urban and rural integration demonstration zone of Sanmenxia City. Construction of 5GWh high-end lithium battery production project reached a specific cooperation intention.

It is understood that the project is located in Sanmenxia High-tech Industrial and Technological Development Zone of Henan Province, at the junction of Henan, Shanxi and Shaanxi provinces, accounting for an area of about 500 acres. At that time, Mengshi Technology will set up a subsidiary as the legal entity of the project to be responsible for the specific implementation of the project. Since the pressure of funding shortage in 2018, lion technology has actively carried out various measures to ease financial pressures, including the introduction of state-owned assets, cooperation with the four parties, and efforts to develop energy storage businesses. The promotion of this foreign investment project will be beneficial to the healthy development of Mengshi Technology and will have a positive impact on its future performance. Editor / Li Dan