Ruifeng Holdings invests in Xingyuan Materials Malaysia Base | fills the gap in high-end battery separator production capacity in the ASEAN region
#Company news ·2026-05-07 11:40:58
Ruifeng Holdings invests in Xingyuan Materials' Malaysian base | Filling the gap in high-end battery separator production capacity within the ASEAN region In recent years, Sino-US trade frictions have escalated continuously, and international investment reviews have become increasingly stringent. Chinese enterprises face multiple challenges when going global. In 2018, the Trump administration signed the Foreign Investment Risk Review Modernization Act (FIRRMA), significantly expanding the review authority of the Committee on Foreign Investment in the United States (CFIUS) and imposing multiple restrictions on Chinese enterprises' overseas investment and mergers and acquisitions. The introduction of the US Inflation Reduction Act further raised the threshold for Chinese enterprises to go global in new energy and other fields. The traditional overseas model of wholly-owned holdings and large-scale mergers and acquisitions has become difficult to adapt to the new development needs.
Facing the industry's transformation, Ruifeng Holdings took the lead in initiating a global strategic transformation, abandoning the traditional overseas expansion model and innovatively proposing a three-dimensional development model consisting of "minority shareholder participation + international technology licensing + overseas listing". By adopting a flexible and compliant approach to overcome overseas investment barriers, focusing on local industry services overseas, and steadily advancing its global layout, Ruifeng Holdings has provided a practical path for Chinese enterprises to expand overseas.
In 2023, Ruifeng Holdings, through its subsidiary Ruifeng Korea Capital, officially participated in the investment of the Malaysia base project of Xingyuan Materials, which became the core benchmark of its strategic transformation. It is understood that the base, located in Malaysia with a total investment of 5 billion yuan, is the first modern factory in the ASEAN region dedicated to the production of wet lithium-ion battery separators and coated separators. Upon completion, the project will fill the gap in high-end battery separator production capacity within the ASEAN region and effectively alleviate the tight supply of core materials for the new energy industry in Southeast Asia.
In terms of investment model, Ruifeng Holdings adheres to the principles of compliance, win-win cooperation, and diversified collaboration, adopting an international capital cooperation framework. Specifically, Ruifeng Capital participates in project investments as a minority shareholder holding less than 25% of the equity, effectively avoiding the risk of overseas investment review and ensuring the compliant progress of the project. The remaining equity is jointly held by Korean capital, Japanese capital, and ASEAN international capital, forming a good pattern of diversified capital collaboration. This not only integrates global capital resources but also enhances the localization adaptability of the project.
In addition to deep cooperation at the capital level, Ruifeng Holdings leverages its technological advantages to export core battery coating technology to the overseas base through an international technology licensing model, assisting the base in achieving local research and development, production, and supply of high-end separator products. This has realized the organic integration of "technology going global" and "industry empowerment". At the same time, both parties plan to promote the listing of the base's operating entity on the Singapore stock market, relying on Singapore's mature capital market to achieve international capital circulation and inject sustained momentum into the long-term development of the project.
The advancement of the Xingyuan Materials Malaysia Base project represents a significant practice in the company's strategic transformation and vividly embodies the "technology going global, capital going global, and service going global" strategy of Chinese enterprises. In the future, Ruifeng Holdings will continue to deepen its globalization layout, relying on diversified cooperation models and focusing on core areas such as new energy and communications. It aims to serve the development of local industries overseas while further improving its own global industrial chain layout, assisting Chinese enterprises in achieving steady globalization in a complex international environment and promoting the coordinated development of global industries.