Guangdong Enpack Packaging (002846.SZ) announced on November 26th that Jiangsu Enpack Composite Manifold recently received a bulk production order from South Korean customer U&SENERGY (0.1 million㎡ of composite aluminum foil and 50,000㎡ of composite copper foil), and on November 26, 2024, the two parties signed a 'Global Strategy Cooperation Agreement'.
Jiangsu Enpack is a professional enterprise engaged in the research and development of composite manifolds. U&S Company is a South Korean lithium battery producer, technology and application solution provider, serving leading new energy enterprises in South Korea such as Samsung SDI, LG, and SKOn. Since May 2023, after 18 months of continuous research and development, sample provision, testing, and optimization, Jiangsu Enpack also provided U&S Company with composite manifold application technology solutions. Finally, in November 2024, the composite manifold product was successfully finalized, fully meeting the application requirements of U&S Company's new generation power batteries.
To further promote a win-win cooperation, the two parties have reached a strategic cooperation in terms of technology, procurement, etc.: U&S Company recognizes Jiangsu Enpack as the sole supplier of composite manifolds, planning to purchase 2 million㎡ of composite aluminum foil and 1 million㎡ of composite copper foil from Jiangsu Enpack in 2025. The demand will continue to grow from 2026 to 2029, and they will continue to source from Jiangsu Enpack.