Strategic Expansion in Central Asia

On July 29, 2024, the first batch of lithium iron phosphate (LiFePO4) power battery packs, co-developed by Aerospace Lithium Technology (Jiangsu) Co., Ltd. (hereinafter referred to as "Aerospace Lithium") and CELCO INNOVATION ENERGY TECHNOLOGY (referred to as "CEICO New Energy" in Chinese), successfully rolled off the production line in Uzbekistan. These battery packs will be widely used in the electric two-wheeler market.

CEICO New Energy is a subsidiary controlled by Tianjin XinHang Power Technology Co., Ltd. (hereinafter referred to as "XinHang Power"). Previously, Aerospace Lithium invested in XinHang Power, assisting the company in deepening its expertise in the small power sector.

Uzbekistan, located in the heart of Central Asia and on the ancient Silk Road, is renowned for its diverse natural landscapes and rich historical and cultural heritage. In recent years, the Uzbek government has vigorously promoted economic development, attracted foreign investment, maintained good relations with major powers and neighboring countries, and achieved rapid economic growth. This economic growth has led to an increase in residents' income, which in turn has boosted consumer demand, including the demand for two-wheeled vehicles and other modes of transportation.

The power battery pack that rolled off the production line is a key component in high-end electric vehicles meticulously crafted by CEICO New Energy. The core component is the 38121 series battery cell independently developed by Aerospace Lithium, providing long-lasting and powerful power support for electric two-wheelers, allowing users to enjoy a more convenient and eco-friendly travel experience. The power battery pack products co-developed by Aerospace Lithium and CEICO New Energy have won international market recognition for their outstanding performance and reliability.