The 2025 China (Guangdong)-ASEAN Trade Promotion and Supply Chain Cooperation Mechanism Building Exchange Meeting was recently held in Guangzhou, during which Guangxin Group signed the Indonesia Guangqing Nickel-Cobalt HPAL Project. The new project, jointly developed by Guangxin Group and Tsingshan Group, is a global benchmark project with an annual output of 80,000 tons of nickel-cobalt intermediate products. The total investment is approximately US$2 billion, with trial production expected by the end of 2026 and an annual profit of about RMB 2 billion after full operation. The product is nickel-cobalt hydroxide, used in cathode materials for new energy ternary lithium batteries. Using RMB for capital contribution, financing, and settlement, it is an innovative case of "RMB internationalization." Guangxin Group is a wholly state-owned enterprise of the Guangdong Provincial Government, a state-owned capital investment company with manufacturing as its main body, capital investment as its primary responsibility, market orientation, and mixed ownership as its characteristic. In 2024, it was again listed in the Fortune Global 500, ranking 414th. The company actively implements the national Belt and Road Initiative, with overseas revenue accounting for 36%. ASEAN is one of its main overseas business bases, with revenue from ASEAN accounting for 86.3% of the group's overseas revenue, serving as an important growth engine. Starting from foreign trade, the company has accelerated the implementation of manufacturing and supply chain projects in ASEAN in recent years, such as the Indonesia Guangqing project jointly established with Tsingshan Group in Indonesia in 2014, as well as related projects in Vietnam, Thailand, Cambodia, and Singapore. The Indonesia Guangqing Nickel-Cobalt HPAL Project is another milestone in deepening industrial chain cooperation between Guangxin Group and ASEAN. It will provide an effective guarantee for the stable supply of nickel resources for global new energy batteries. The group will also leverage this to increase investment and layout in ASEAN, jointly build a more resilient cross-border industrial chain, and contribute to the development of Guangdong and the construction of a community with a shared future for neighboring countries.
The 2025 China (Guangdong)-ASEAN Trade Promotion and Supply Chain Cooperation Mechanism Building Exchange Meeting was recently held in Guangzhou, during which Guangxin Group signed the Indonesia Guangqing Nickel-Cobalt HPAL Project. The new project, jointly developed by Guangxin Group and Tsingshan Group, is a global benchmark project with an annual output of 80,000 tons of nickel-cobalt intermediate products. The total investment is approximately US$2 billion, with trial production expected by the end of 2026 and an annual profit of about RMB 2 billion after full operation. The product is nickel-cobalt hydroxide, used in cathode materials for new energy ternary lithium batteries. Using RMB for capital contribution, financing, and settlement, it is an innovative case of "RMB internationalization." Guangxin Group is a wholly state-owned enterprise of the Guangdong Provincial Government, a state-owned capital investment company with manufacturing as its main body, capital investment as its primary responsibility, market orientation, and mixed ownership as its characteristic. In 2024, it was again listed in the Fortune Global 500, ranking 414th. The company actively implements the national Belt and Road Initiative, with overseas revenue accounting for 36%. ASEAN is one of its main overseas business bases, with revenue from ASEAN accounting for 86.3% of the group's overseas revenue, serving as an important growth engine. Starting from foreign trade, the company has accelerated the implementation of manufacturing and supply chain projects in ASEAN in recent years, such as the Indonesia Guangqing project jointly established with Tsingshan Group in Indonesia in 2014, as well as related projects in Vietnam, Thailand, Cambodia, and Singapore. The Indonesia Guangqing Nickel-Cobalt HPAL Project is another milestone in deepening industrial chain cooperation between Guangxin Group and ASEAN. It will provide an effective guarantee for the stable supply of nickel resources for global new energy batteries. The group will also leverage this to increase investment and layout in ASEAN, jointly build a more resilient cross-border industrial chain, and contribute to the development of Guangdong and the construction of a community with a shared future for neighboring countries.