The groundbreaking ceremony for Nantong Haixing Electronics Co Ltd's new-generation high-performance electrode foil project took place on Sept 8 in Pingchao town, Tongzhou district, Nantong, Jiangsu province.

The project, with a planned total investment of 3.2 billion yuan ($441.9 million), will introduce 50 new smart production lines and increase annual production capacity by 42 million square meters.

Haixing is a leading enterprise in China's aluminum electrode foil industry. Over its three-decade development journey in Pingchao, Haixing has transformed from a small enterprise into a top player in various industries, with annual sales exceeding 2 billion yuan. Their product technology is at the global forefront.

In 2022, Haixing's flagship product, aluminum electrode foil, held a 10.5 percent global market share, ranking second worldwide.

The new-generation high-performance electrode foil product, which can be applied in photovoltaic inverters, electric vehicle charging stations, and similar types of equipment, was introduced through independent innovation by the company and has already entered mass production, said Chen Jian, the company's chief executive officer.

The establishment of the project in Pingchao will not only inject vitality into the electronic component industry in the town but also promote industrial innovation and development in Tongzhou.

In recent years, Tongzhou has been committed to enhancing its industrial and innovation chains, placing importance on attracting leading and technology innovation projects. So far this year, Tongzhou has constructed 39 projects with a planned investment of 17.63 billion yuan.

The groundbreaking ceremony for Nantong Haixing Electronics Co Ltd's new-generation high-performance electrode foil project is held in Pingchao town. [Photo/Nantong Daily]