Nuode (NEEQ:873966) is a company that specializes in providing wiring harness products for industrial equipment and new energy vehicle power systems. The company was founded in 2008 and is based in Changzhou, China.
Latest Nuode News
May 26, 2023
(Yicai Global) May 26 -- Shares of Nuode New Materials fell after the leading Chinese supplier of copper foil announced a CNY3.6 billion (USD510 million) production capacity expansion plant, the second in the past eight days. Nuode [SHA: 600110] was trading down 3.5 percent at CNY6.87 (97 US cents) as of today's lunch break. Nuode will build a lithium-ion battery copper foil plant in China's eastern Jiangxi province, with an annual production capacity of 50,000 metric tons, the Shenzhen-based firm said in a statement yesterday. The project's construction period is expected to be 30 months. On May 17, Nuode announced it had signed a memorandum of cooperation with Belgium's Wallonia Foreign Trade and Investment Agency to build a base to research, develop, and make copper foil and related products with an annual capacity of 30,000 metric tons. The firm plans to invest EUR500 million (USD553 million) in such project. Nuode plans to raise CNY2.5 billion in a private placement to fund the Jiangxi plant, of which CNY2.3 billion will be used to build the plant and the remaining CNY160 million (USD22.7 million) to research and develop key technologies to make ultra-thin copper foil products, the firm added. In the medium- to long-run, supplies of high-end ultra-thin copper foil products manufactured with new techs will remain tight to some extent because customer needs will continue to increase, Nuode noted in the project's feasibility report released today. Nuode has an annual production capacity of 55,000 mt, with an additional 50,000 mt to be added this year. Its core product are ultra-thin foils with a thickness of between 3.5 microns to 8 microns that are suitable for making power batteries. Domestic and overseas lithium battery producers such as Contemporary Amperex Technology, BYD, LG New Energy, and Panasonic are among Nuode's top clients, according to its annual earnings report for 2022. Editor: Futura Costaglione
Nuode Frequently Asked Questions (FAQ)
When was Nuode founded?
Nuode was founded in 2008.
Where is Nuode's headquarters?
Nuode's headquarters is located at No. 5 Hongli Road, Qinglong Street, Tianning District, Changzhou.
What is Nuode's latest funding round?
Nuode's latest funding round is IPO.
Who are the investors of Nuode?
Investors of Nuode include Shang Qi Capital, Chuangsai Investment, Jiuzhou Venture and Kunlun Fund.