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On November 20th, Guanghua Technology announced that the company signed a strategic cooperation agreement on the recycling and treatment of waste power lithium batteries in Shantou, Guangdong and Huaao, Guangxi on November 20th. Both parties will cooperate in the field of waste power lithium battery recycling, which can achieve organic unity of economic, environmental, and social benefits, establish a model of power lithium battery recycling and circular economy, and jointly contribute to the healthy development of China's new energy vehicle industry.

The important content of the agreement is that both parties will cooperate in the field of waste power lithium battery recycling. Guangxi Huaao will submit its waste battery cells, modules, polar plates, and retired power lithium battery packs that meet the recycling standards of Guanghua Technology to Guanghua Technology for disposal, and jointly establish a waste power lithium battery recycling network to ensure the orderly recycling and standardized treatment of waste power lithium batteries.

Guangxi Huaao was established on November 14, 2015, with business scope including automobile manufacturing, sales, and research and development; Automobile parts sales is a national automobile production company with a total investment of 8 billion yuan. The company has an annual production capacity of 20000 passenger cars, including 5000 passenger cars and 15000 light passenger cars. Developed high-end business buses under the Huaao brand, fully loaded pure electric and plug-in buses, official vehicles, low-floor airport shuttle buses, and electric buses.

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