Huixiang Energy, a subsidiary of Ionix Technology, has entered a Purchase and Sale Contract with its Strategic Partner Hiboss Electric Vehicle for Total Value of up to 0.3 billion USD
Ionix Technology, Inc. (IINX) has announced a significant strategic partnership with Hiboss Electric Vehicle through its subsidiary, Huixiang Energy Technology. This collaboration includes a Purchase and Sale Contract for electric vehicle (EV) battery pack products valued at up to 0.3 billion USD over 30 months. The agreement is positioned as pivotal for IINX's expansion in the energy vehicle market, supported by Huixiang's advanced technology. CEO Li Cheng emphasized the mutual benefits and prospects for growth stemming from this agreement.
- Partnership with Hiboss Electric Vehicle facilitates entry into the growing energy vehicle market.
- Contract worth up to 0.3 billion USD establishes a strong revenue stream over the next 30 months.
- Advanced battery technology from Huixiang Energy provides a competitive edge in the EV sector.
- None.
LAS VEGAS, May 11, 2021 /PRNewswire/ -- Ionix Technology, Inc. (OTCQB: IINX), ("Ionix Technology", "IINX" or "the Company"), a business aggregator in the fields of photoelectric display and smart energy, today announced its wholly-owned subsidiary Huixiang Energy Technology (Suzhou) Co., Ltd ("Huixiang Energy") signed a product Purchase and Sale Contract with Hiboss Electric Vehicle ("Agreement").
Ionix believes signing this Agreement marks the beginning of a long-term and stable strategic partnership between the two parties, which will help IINX open a new prospect in the development of the energy vehicle market.
According to the Agreement, Hiboss Electric Vehicle may purchase Electric Vehicle (EV) battery pack products including fast-charge batteries with a total value of up to 0.3 billion USD from Huixiang Energy within 30 months, according to their requirements. At the beginning of 2021, major changes have taken place in China's new energy vehicle market. As people increasingly favor environmentally friendly lifestyles and become more aware of new energy vehicles, the market, which was originally mainly driven by supply and government policy, has been further developed to be demand-oriented. The Company believes the advanced battery product technology owned by Huixiang Energy provides a strong guarantee and support for the development of the company in the new energy vehicle market.
Mr. Li Cheng, CEO of IINX, said, "Signing this contract is beneficial for the respective superiority development, resource sharing, complementary advantage and mutual benefit of the parties. The two parties will continue to carry out in-depth and comprehensive cooperation in the future to achieve positive business results. The implementation of this project will help the company achieve its goals for rapid growth of performance and profitability. The parties' cooperation has promoted and boosted the industrial layout and development of IINX in the field of new energy, and has laid a solid foundation for IINX to build a closed-loop industrial chain of ecological new energy vehicle.''
About Ionix Technology, Inc.
Ionix Technology, Inc. is a holding company that is principally engaged in the photoelectric display and smart energy industries. The company has seven operating subsidiaries: Changchun Fangguan Electronics Technology Co., Ltd, a company which has been focusing on R&D, manufacturing and marketing LCM and LCD. Changchun Fangguan Photoelectric Display Technology Co., Ltd, a company which specializes in developing, designing, and selling TN and STN LCD, STN, CSTN, and TFT LCD modules as well as other related products; Shenzhen Baileqi Electronic Technology Co., Ltd, a company which specializes in LCD slicing, filling, researching and designing, and selling of LCD Modules (LCM) and PCBs; Lisite Science Technology (Shenzhen) Co., Ltd., a company engaged in the marketing and selling of intelligent electronic devices; and Dalian Shizhe New Energy Technology Co., Ltd., a company engaged in the new energy support service, and operating the photovoltaic power generation, electric vehicles and charging piles with corresponding operation and maintenance and three dimensional parking. Shijirun (Yixing) Technology Co., Ltd, a company engaged in new energy intelligent manufacturing and intelligent equipment industry. High intelligence of the equipment is a guarantee of high stability and consistency for EV and Energy storage battery. Huixiang Energy Technology (Suzhou) Co., Ltd, engaged in R&D of next generation advanced battery technologies, manufacture and sales of relevant battery products, including the solid state rechargeable lithium ion battery for next generation EV and energy storage systems. Also operation of battery packs, battery systems and electric vehicles sharing business with its own internet sharing platform. Currently, IINX has embarked on the layout of industrialization and marketization of front end materials and back end modules of liquid crystal displays and applications of flexible folding display technology by taking Fangguan Electronics as production bases, to seize the market share of OLED high technology.
To learn more, please visit our website: www.theiinx.com
Safe Harbor Statement
This news release contains "forward-looking statements" as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Ionix Technology assumes no obligation to update the forward-looking statements. Although Ionix Technology believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Ionix Technology's annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.
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