- Business
- Tonze New Energy Technology Co., Ltd. (002759.SZ) engages primarily in the research, development, manufacture, and sale of small household appliances and new energy materials in China. The company produces a range of household products including yoghourt makers, health pots, steam cookers, electric kettles, stew pots, rice cookers, electric cookers, and ceramic electric stew series with patented water-sealed ceramic liners enabling multi-gall combination stewing; it also offers medical instruments such as digital thermometers and NTC thermistor temperature sensors. In its new energy division through wholly-owned subsidiary Jiangsu Xintai Material Technology Co., Ltd., the company manufactures lithium hexafluorophosphate (an essential electrolyte for lithium-ion batteries), sodium fluoroaluminate, potassium fluoroborate, potassium fluorotitanate, potassium fluorozirconate, hydrochloric acid, calcium chloride, and sodium hypophosphite. Founded in 1996 and headquartered in Shantou, Guangdong Province, the company operates production facilities including a key site in Changshu New Materials Industrial Park, Jiangsu Province, and targets domestic markets with expansion into clean energy raw materials serving the lithium battery industry. Formerly Guangdong Tonze Electric Co., Ltd., it listed on the Shenzhen Stock Exchange main board in May 2015 and rebranded to its current name to reflect its strategic pivot toward new energy technologies. Recent developments include a 2021 cooperative investment project expanding lithium hexafluorophosphate capacity to 10,000 tons annually, achieving 18,160 tons production of hexafluorophosphate and related chemicals in 2022, scaling to 30,000 tons in 2023, and reaching 50,000 tons in 2024; in 2023, it signed a CNY 460 million share transfer agreement to acquire Changshu Yuxiang Trading Co., Ltd., and in 2024 authorized a share buyback plan while planning acquisition of 75% equity in Shanghai Shuheng to bolster solid-state battery capabilities.