Gelonghui April 19 | Xingyuan Material (300568) announced that the company and Samsung SDI Co. , Ltd. (hereinafter referred to as “Samsung SDI”), in order to give full play to the core competitiveness and resource advantages of the two sides in their respective fields, signed a “Strategic Memorandum” after friendly negotiations between the two parties, agreeing that the company will supply about 2.2 billion square meters of wet coated lithium-ion battery separator materials to Samsung SDI to deepen strategic cooperation in the business related to power lithium battery separators. Using this as an opportunity, we will jointly explore the possibility of expanding our North American business in the future and promote mutual benefit and win-win situation for both parties on the premise of complying with relevant laws.
According to reports, Samsung SDI Co., Ltd. was founded in 1970 and its headquarters address is 150-20, Gongsee-ro, Giheung-gu, Yongin-si, Gyeonggi-do, South Korea. The company's business covers three areas, including chemicals, electronic materials, and energy. This includes everything from R&D and sales of batteries, components, BS, and battery packs to technical support and all product portfolios related to automotive batteries. It is also one of the current global battery manufacturers.
According to the announcement, the signing of the “Strategic Memorandum” will further highlight the company's dominant position in the field of lithium-ion battery separators and bring positive effects to the further promotion of the company's diaphragm products in overseas markets; at the same time, it will also further promote the two sides to develop their respective advantages and create greater commercial value for cooperation between the two sides.