Huadi International Group Co., Ltd. Announces Strategic Plan to Enter New Energy Industry, Initiates Discussion with a Sichuan Local Government to Invest and Construct New Energy Battery and Storage Project
November 03 2022 - 8:30AM
Huadi International Group Co., Ltd. (“HUDI” or the “Company”)
(NASDAQ: HUDI), a leading developer and manufacturer of industrial
stainless steel seamless pipes and tubes products in China, today
announced its strategic plan to enter into clean energy industry.
The Company has initiated discussion with a local government in
Sichuan province, China and plans to invest and construct local
production base for anode materials, which are core to the
development of clean energy batteries and storage technologies.
HUDI’s management and the local officials held
discussions during several virtual conferences on clean energy
development. Among the discussion were the potential investment,
product range, technology application, anticipated operational
scale and performance of the clean energy initiative proposed by
HUDI. Field trips have been scheduled by the local officials to
perform due diligence after reviewing and confirming the Company’s
strategic planning for the new energy business. The Company’s
strategic plan is aimed to mobilize Sichuan local economic
development and improve environment sustainability.
Mr. Di Wang, Chairman of Huadi International
Group Co., Ltd., commented, “we are proud to have a chance to
negotiate our new energy strategic plan with the Sichuan Local
Government . The local officials recognized of our capability to
accelerate the domestic battery supply chain and meet growing
demand from the electric vehicle and stationary grid storage
markets. The Company has profound experience in the manufacturing
industry and has established strong upstream raw material
procurement business partnerships. Our management has tremendous
experience working in new energy related fields. HUDI sees
substantial market opportunities with local government support to
develop new energy in a number of ways: funding, land grants, tax
cuts. So we announced the new strategic plan that was
originated from our mission – to enhance our profitability through
innovation, and we aim to also devote ourselves to paving the way
for the clean energy transformation. We are excited to initiate the
discussion to further our mission of creating long-term sustainable
value for our stakeholders and local communities.”
About Huadi International Group Co., Ltd.
Huadi International Group Co., Ltd. is a leading
manufacturer of industrial stainless steel seamless pipes and tubes
products with extensive distribution facilities and network for
over twenty provinces in China and across international steel pipes
industry. It offers a broad range of products exported to twenty
countries and regions such as United States, Mexico, Thailand,
Australia, Argentina, Taiwan, India, the Philippines, UAE and
Canada. Its products are widely used in the oil & gas
transmission, chemistry engineering, food processing, medical
devices, aeronautics and astronautics, boiler, irrigation works
construction, electricity, automobile, naval architecture, paper
mill and mechanical industries. For more information about the
Company, please visit: http://www.huadi.cc.
Forward-Looking Statement
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as “may, “will, “intend,” “should,” “believe,”
“expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company’s goals and strategies; the Company’s future
business development; financial condition and results of
operations; product and service demand and acceptance; reputation
and brand; the impact of competition and pricing; changes in
technology; government regulations; fluctuations in general
economic and business conditions in China and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the SEC. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company’s filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward‐looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
The Company:
IR Department
Email: IR@huadigroup.com
Huadi (NASDAQ:HUDI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Huadi (NASDAQ:HUDI)
Historical Stock Chart
From Sep 2023 to Sep 2024