Over 5 billion yuan! Hailiang Co., Ltd. plans to invest in a 67.5k-ton copper foil project in Zhuji, Zhejiang

（Source: MyBattery）

Intro丨mybattery

This investment project is intended to be carried out by establishing a wholly owned subsidiary, Zhejiang Hailiang New Energy Materials Co., Ltd. (tentative name), by Gansu Hailiang Investment, with construction planned in three phases. After all phases are completed and put into operation, it will form approximately 67,500 tons/year of electrolytic copper foil production capacity.

On the evening of March 31, Hailiang Co., Ltd. (002203) announced that its controlling subsidiary, Gansu Hailiang New Energy Materials Co., Ltd. (hereinafter referred to as “Gansu Hailiang”), plans to invest in and build a copper foil production line project with an annual output of 67,500 tons in Zhuji, Zhejiang Province.

According to the announcement, the investment project will be carried out by Gansu Hailiang establishing a wholly owned subsidiary, Zhejiang Hailiang New Energy Materials Co., Ltd. (tentative name; subject to the name approved by the market regulatory authority), as the implementation entity. The project will be built in three phases. After all phases are put into operation, it will form approximately 67,500 tons/year of electrolytic copper foil production capacity. The total investment amount is expected to be RMB 5.05 billion, including fixed asset investment of RMB 3.85 billion.

The project implementation period is expected to be 60 months, and will be constructed in three phases. Phase one is designed with a capacity of 17,500 tons, phase two with a designed capacity of 32,500 tons, and phase three with a designed capacity of 17,500 tons. Phase one is planned to start construction in July 2026; phase two is planned to begin submitting approvals, design, and construction in June 2027; phase three is planned to begin submitting approvals, design, and construction in June 2029. The actual timelines for phases two and three may be adjusted based on market orders, power supply, energy balance, and other factors.

Hailiang Co., Ltd. stated that this investment project is intended to strengthen the company’s regional coordination and strategic layout in the new energy materials industry. By setting up a subsidiary in Zhuji, Zhejiang, and forming a “north-south linkage, multi-base complementarity” pattern with the Gansu base, the company will comprehensively leverage the market and industrial advantages of the Yangtze River Delta as well as Gansu’s production capacity and technological accumulation. This move can bring the company closer to core customer clusters, respond quickly to the customized and delivery needs of high-end copper foils, reduce operating costs, and consolidate its core position in the supply chain. At the same time, it will optimize the business structure, build an integrated ecosystem from R&D to services, increase the proportion of high value-added products, enhance its ability to withstand risks, and drive the company’s transformation into a provider of solutions for high-end copper-based material materials.

According to available information, Hailiang Co., Ltd. is a global supplier of copper-based materials solution providers, offering advanced thermal management materials and conductor materials to help global customers improve energy efficiency. The company’s subsidiary, Gansu Hailiang, mainly produces lithium battery copper foil and standard copper foil. It has planned and is building an annual 150,000-ton project for high-performance copper foil materials. Currently, 90,000 tons of high-end copper foil has already reached full production. According to local media reports, within this year, Gansu Hailiang will achieve full commissioning of the 30,000-ton phase-two copper foil production line, further expanding its capacity advantage.

MyBattery noted that on January 30, Hailiang Co., Ltd. formally submitted a listing application to the Hong Kong Stock Exchange’s Main Board. CICC and GF Securities are its joint sponsors.

The fundraising in Hong Kong will be used to advance the construction and expansion of Hailiang’s production bases in Morocco and Indonesia, thereby further promoting overseas capacity expansion and localized construction; to enhance R&D capabilities in cutting-edge copper-based materials solutions and strengthen intelligent manufacturing capabilities; and to accelerate the transformation of copper-based materials solutions from advanced R&D initiatives into commercially feasible, high-growth areas such as new energy and AI computing. It will also seek strategic investment and merger and acquisition opportunities, with the goal of strengthening its position in the copper-based materials industry by expanding into high-growth fields; global brand building and market promotion; working capital and general corporate purposes.

In addition, during an investigation and research activity in January this year, Hailiang Co., Ltd. also mentioned that its subsidiary, Indonesia Hailiang, as the first copper foil factory from China to go abroad, has already fully cooperated to accelerate the development of overseas business. It has signed designated supply agreements with 5 of the global top 10 power battery customers and 2 of the 3C digital top 3 customers. Under the agreements, starting in 2026, the two parties have agreed on specifications, quantities, amounts, and other details of the products they will supply and cooperate on.

Written by丨Changqing

Reviewed by丨Chen Yu

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