Xinyi Hong Kong announced in its interim results that it had purchased a piece of land in Zhangjiagang, Jiangsu Province, which it now plans to use for the construction of a new lithium-ion battery production plant. On August 6, Anhui Xinyi Power Supply Co., Ltd., a wholly-owned subsidiary of the company, and two independent third-party contractors entered into a framework agreement for demolition of buildings, removal of old production facilities and site formation. Pursuant to the Framework Agreement, Xinyi Po