Business
Huadi International Group Co., Ltd. Announces Strategic Plan to Enter New Energy Industry, Initiates Discussion with a Sichuan Local Government to Invest and Construct New Energy Battery and Storage Project
BEIJING, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer
About this update from Huadi International Group Co., Ltd.
[{"type":"text","content":"BEIJING, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announced its strategic plan to enter into clean energy industry. The Company has initiated discussion with a local government in Sichuan province, China and plans to invest and construct local production base for anode materials, which are core to the development of clean energy batteries and storage technologies. HUDI’s management and the local officials held discussions during several virtual conferences on clean energy development. Among the discussion were the potential investment, product range, technology application, anticipated operational scale and performance of the clean energy initiative proposed by HUDI. Field trips have been scheduled by the local officials to perform due diligence after reviewing and confirming the Company’s strategic planning for the new energy business. The Company’s strategic plan is aimed to mobilize Sichuan local economic development and improve environment sustainability. Mr. Di Wang, Chairman of Huadi International Group Co., Ltd., commented, “we are proud to have a chance to negotiate our new energy strategic plan with the Sichuan Local Government . The local officials recognized of our capability to accelerate the domestic battery supply chain and meet growing demand from the electric vehicle and stationary grid storage markets. The Company has profound experience in the manufacturing industry and has established strong upstream raw material procurement business partnerships. Our management has tremendous experience working in new energy related fields. HUDI sees substantial market opportunities with local government support to develop new energy in a number of ways: funding, land grants, tax cuts. So we announced the new strategic plan that was originated from our mission – to enhance our profitability through innovation, and we aim to also devote ourselves to paving the way for the clean energy transformation. We are excited to initiate the discussion to further our mission of creating long-term sustainable value for our stakeholders and local communities.” About Huadi International Group Co., Ltd. Huadi International Group Co., Ltd. is a leading manuf...