Putailai expands coating capacity with $2.5 bn investment, boosts subsidiary capital

Shanghai Putailai New Energy Technology Group Co., Ltd. announced a $2.5 billion investment in the second phase of its integrated base film coating project (sub-project II) through its wholly-owned subsidiary, Sichuan Zhuoqin New Materials Technology Co., Ltd. The company will inject $760 million in capital into Sichuan Zhuoqin, with the remaining project funding from the subsidiary's own funds and bank loans. The project, approved by the board on November 14, 2025, aims to expand base film and coating production capacity to meet growing demand in the new energy vehicle and energy storage markets.

The expansion will add 2 bn m² of base film and 3 bn m² of coated film annual capacity, leveraging Putailai's existing technology and equipment advantages. This strategic move aligns with the company's objective to enhance its "material + process + equipment" synergy and reinforce its position in providing integrated solutions for lithium battery separators. The project is expected to increase Putailai's profitability and strengthen its market presence.

In a related announcement, Putailai confirmed it had fully returned all temporarily idle raised funds, amounting to up to $1 billion, to their dedicated accounts by November 14, 2025. These funds were previously used for cash management as approved by the board on November 14, 2024. The company stated that the temporary cash management did not impact the implementation of its fundraising projects.