Changes in Hong Kong stocks | The Ningde Era (03750) rose more than 4% in early trading, and the official start of a cooperation project with Indonesia will further expand into the energy storage sector

The Zhitong Finance App learned that the Ningde Era (03750) rose by more than 4% in early trading. As of press release, it had risen 2.33% to HK$351.4, with a turnover of HK$450 million.

According to news, according to Ningde Times's official WeChat, recently, the Indonesian nickel resources and battery industry chain project, which was jointly invested and built by a consortium formed by Ningde Times subsidiary Puqin Times (CBL), Indonesian state-owned mining company ANTAM, and Indonesian battery company IBC, held a groundbreaking ceremony in Indonesia. The total future investment of the project is nearly 6 billion US dollars. The planned annual battery production can support 200,000 to 300,000 electric vehicles, and will further expand into the field of energy storage.

According to reports, the total planned land use of the project is over 2,000 hectares, including projects such as nickel mining and smelting, battery material manufacturing and battery recycling in East Hamahela in North Maluku Province, as well as a battery manufacturing project in Karawang, West Java. Among them, the first phase of the Karawang Battery Plant is planned to have a production capacity of 6.9 GWh, and will rely on cutting-edge technologies such as AI, 5G, and digital twins to produce high-quality battery products and accelerate the electric mobility and energy transformation process in Indonesia and the world.