The Bank of Communications has provided CORNEX with a credit line of RMB10 billion (US$1.39 billion)

2024-01-24 Page View:8100

On January 24, CORNEX and Bank of Communications Hubei Branch signed a strategic cooperation facility agreement at the Westin Hotel in Hanyang, Wuhan. CORNEX received a RMB10 billion (US$1.39 billion) credit from the Bank of Communications. Dai Deming, Chairman of CORNEX, Secretary of the Party Committee and President of Hubei Branch of Bank of Communications Chen Zhong and the leaders of both parties witnessed the signing. Huang Feng, President of CORNEX, and Zhang Zhe, Vice President of Bank of Communications Hubei Branch, signed the agreement on behalf of both sides.


The signing of the strategic cooperation agreement between CORNEX and the Bank of Communications, which represents a credit commitment of RMB10 billion (US$1.39 billion), fully underscores the confidence of the market and financial institution group in the strength and potential of CORNEX's business, and is an important measure to support the development of physical economies. The substantial credit investment will greatly boost CORNEX's business growth, providing a strong financial guarantee for further investment in research and development, as well as the rapid expansion of its business. CORNEX will continue to deepen the strategic partnership between the two parties, deepen the main business, strengthen technological innovation, accelerate technological transformation, create high-quality products, and serve global customers, and make every effort to contribute to the realization of the ambitious goal of double carbon.

Chen Zhong, Secretary of the Party Committee and President of Hubei Branch of Bank of Communications, said that the signing of this strategic cooperation agreement is a practical action to actively promote the high-quality development of physical economies and an important measure to implement the spirit of the Central Financial Work Conference. The Bank of Communications will continue to support CORNEX in improving its product service and supply chain capabilities, increase investment in intelligent manufacturing, and provide strong support for the industrial development of Hubei Province, promoting it to ride the high-speed development train. Bank of Communications will closely focus on CORNEX's new energy development plan, coordinate the resources of the whole bank, increase support, and promote CORNEX's sustainable and high-quality development, jointly serve the local economy, and build an innovative highland for China's new energy industry. The two sides will accelerate the promotion of in-depth cooperation based on the principle of complementary advantages and mutual benefit and win-win results.

CORNEX has completed the construction of three major bases in Wuhan, Xiaogan and Yichang and put them into full operation, forming an effective production capacity of 100GWh. The company now has more than 40 intelligent production lines with industry-leading technology, and has independently developed more than 40 types of energy storage and power battery products. The company's service range covers major domestic and foreign power generation, power grid, and user-side enterprises, in addition to passenger cars, commercial vehicles, ship manufacturing, and other industries. CORNEX's service network has now expanded to include multiple countries and regions across Asia, Europe, and America.


As a new energy innovative high-tech enterprise, CORNEX NEW ENERGY CO., LTD. focuses on the R&D, manufacturing, sales and services of energy storage batteries, EV batteries and energy management system, and is committed to providing the world-class solutions, products and services for new energy applications worldwide.

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