[Special Stock] Completion of US Battery Electrolyte Plant, Dongwha Enterprise Soars

As of 9:30 AM on the 20th, Dongwha Enterprise's stock price rose 9.61% from the previous day to 11,860 KRW. This marks a strong performance for two consecutive days following a limit-up close the day before.

Earlier, Dongwha Enterprise announced that its battery materials affiliate, Dongwha Electrolite, has completed a new electrolyte production facility located in Tennessee, USA. This is the first factory Dongwha Electrolite has established on the American continent. The company stated, "The facility is built in the central-southern region, home to numerous automakers and battery companies, aiming to proactively respond to future North American battery demand and collaborate with leading domestic and international companies."

The annual production capacity of the U.S. plant is 86,000 tons, sufficient to produce 2 million electric vehicles. In addition to the U.S., Dongwha Electrolite has production bases in Korea, China, Malaysia, and Hungary, and with the completion of the U.S. plant, it will have an annual production capacity of approximately 160,000 tons.

Electrolyte is one of the four major battery materials and serves to transport lithium ions smoothly between the cathode and anode. The performance of the electrolyte directly affects the lifespan and safety of secondary batteries.

However, concerns have arisen over sluggish demand, including a decline in electrolyte sales prices due to the battery industry downturn last year.