Wanhua Chemical and Xingfa Group established a joint venture company in Hubei with a registered capital of 600 million.

Tianyancha App shows that recently, Hubei Huaxing New Energy Co., Ltd. was established, with Xu Xiaolei as the legal representative and a registered capital of 600 million RMB. Its business scope includes battery manufacturing, battery sales, and research and development of new energy technologies. Shareholder information shows that the company is jointly held by Wanhua Chemical Battery Industry Co., Ltd. under Wanhua Chemical and Xingfa Group.