Recently, CIMC TransPack Technology Co., Ltd. (hereinafter referred to as CIMC TransPack) and Fengfan Co., Ltd., a direct subsidiary of China State Shipbuilding Corporation (hereinafter referred to as Fengfan Company), entered into a strategic cooperation framework agreement in Baoding, Hebei. Both parties will initiate deep collaboration around energy storage recycled transpack, comprehensively deepen and expand all-round cooperation in logistics transpack and nationwide warehousing, strengthen resource sharing and complement each other's strengths, promoting green, high-quality industry development in a mutually beneficial and win-win situation.

The main businesses of Fengfan Company include lead-acid batteries, lithium-ion batteries, and specialty material products, etc. With an annual production capacity of approximately 25 million lead-acid batteries, it is a perennial partner of major domestic automobile manufacturers. Specifically, its market share for lead-acid starter batteries is about 20%, and traction batteries over 30%, ranking it among the "Top 100 Chinese Auto Parts Enterprises" for consecutive years.

It is understood that lead-acid batteries are used in traditional fuel vehicles as starter batteries. They have the largest market share and the widest range of applications among all chemical batteries, especially in the fields of starting and large-scale energy storage. Consequently, China's lead-acid battery market has been growing year by year.

According to the framework agreement, both parties will fully leverage their respective advantages in the field of strategic new energy storage industries to integrate resources and achieve common development. CIMC TransPack will provide recycled packaging for the lead-acid batteries of Fengfan Company, replacing the previously used disposable wooden pallets and paper packaging. This significantly reduces packaging costs, improves logistics and warehousing loading efficiency, thus helping the company achieve cost reduction and efficiency enhancement.

In addition, both parties will also comprehensively deepen and expand all-round cooperation in logistics transpack and nationwide warehousing. With its excellent recycled transpack manufacturing, shared operation services and comprehensive solution capabilities, CIMC TransPack will provide Fengfan Company with a one-stop comprehensive solution.

CIMC TransPack, the operating entity of the recycled load segment under CIMC, aims to replace disposable packaging with recycled packaging. Over the past 20 years, relying on CIMC Group's technology advantages in high-end equipment manufacturing, CIMC TransPack has been committed to promoting the application of recycled packaging in various industries, providing customized professional recycled packaging products and shared operation one-stop comprehensive solutions for customers in the automotive, new energy, liquid chemical/food, rubber, fresh/agricultural products, home appliances, bulk goods, FMCG, and other industries. In the future, CIMC TransPack will continue to expand into more industry sectors.