Guangdong Enpack Packaging's (SHE:002846) unit, Jiangsu Yinglian Composite Current Collector, signed a cooperation agreement with a research institute of an automotive company to develop integrated new materials for batteries' composite current collectors, according to a Shenzhen Stock Exchange disclosure on Monday.
Both parties will use their resources for the materials' development, the Chinese metal can manufacturer said.
The company's shares dropped over 4% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.