Ningxia Hanyao

About Ningxia Hanyao

Ningxia Hanyao Fu-Li Technology Co., Ltd. operates as a specialized manufacturer of cathode materials for the lithium battery industry, positioning itself at a crucial juncture in the new energy vehicle and energy storage supply chains. Established in November 2017 and headquartered in Yinchuan, China, the company has focused on addressing key performance and cost challenges in battery technology.

The company is steered by key figures including Chairman Li Kai and Executive Director and General Manager Hu Wei. Hu Wei, who also serves as the R&D technical lead, is a senior engineer with nearly two decades of experience in cathode material development and is a pivotal figure in the industrialization of the company's core technology. This deep technical expertise traces back to 2006, predating the company's official establishment, when the founding team began research into lithium-rich manganese-based materials.

Ningxia Hanyao's primary business involves the research, development, and mass production of advanced cathode materials, particularly its flagship lithium-rich manganese-based (LMR) products. These materials are designed to offer a compelling balance of high energy density, enhanced safety, and lower cost compared to traditional chemistries. The product portfolio also includes low-cobalt ternary materials and their associated precursors. The company has successfully industrialized its LMR materials, making it one of the first domestic enterprises to achieve batch sales and precursor mass production in this category. This has allowed it to capture a significant share of the domestic market for these specific materials.

The business model is centered on supplying these advanced materials to battery cell manufacturers. Its client base includes prominent players in the consumer electronics, power tools, electric two-wheeler, and energy storage sectors, and the company has successfully entered the supply chain of first-tier domestic customers. Revenue is generated through the direct sale of these material products. Furthermore, the company is developing a circular business model by creating a lithium battery recycling operation, aiming to process scrap materials directly back into high-value cathode products, thereby reducing waste and costs.