Ionix Technology Inc announces its seventh wholly-owned subsidiary has completed legal registration

2021-03-31

LAS VEGAS, NV, March 30, 2021 -- Ionix Technology, Inc. (OTCQB: IINX), ("Ionix ", "IINX" or "the Company"), a business aggregator in the fields of photoelectric display and smart energy, today announced its another wholly-owned subsidiary—Huixiang Energy (Suzhou) Co.,Ltd (Huixiang) has completed the legal registration in Suzhou China. Huixiang Energy is a high-tech company dedicated to the research and development of next generation advanced battery technologies, manufacture and sales of relevant battery products, including the solid state rechargeable lithium ion battery for next generation EV and energy storage systems with safety, fast charging (10 minute charge rate), wide temperature operation range (from -50 degrees to +70 degrees) and long cycle life. And Huixiang also engages in operating battery packs, battery systems and electric vehicles sharing business with its own internet sharing platform. The EV could be electric sport sedans, delivery electric cars, electric trucks, electric mini-cars and two-wheel electric vehicles, etc.

With the rapid development of take-out and express delivery services in and out of cities, the intercity low-speed electric vehicles on which it relies have encountered major bottlenecks, namely, such as the problems of flammable and explosive charging of electric vehicles, short battery life and slow charge (>3 hours charge time), which limit the development of the industry. By cooperating with battery enterprises, Huixiang Energy use the new battery technology of the advanced (including the solid state lithium ion battery) with high safety, fast charging (10 minute charge rate), long cycle life, to solve the problem of safety, endurance mileage, service life and so on for EV charging and usage issues. On this basis, the new energy battery and electric vehicle operation platform will be launched.

Mr Li Cheng, CEO of IINX, said, “On the premise of this new battery technology support, Huixiang Energy is developing its sharing platform of the electric vehicles (online EV hailing services) and its relevant batteries and battery systems. We plan to copy and promote the business in major cities throughout the country. It will bring great convenience for the people living in the cities, and also bring new breakthrough to the logistics industry and provide a strong guarantee for the development of industry. Hereby the company will become the industry leader.  The operation of the new energy sharing platform project is a key link of IINX's industrial layout and development. It is expected it will bring good profit for the company in the future and become a profit growth point for IINX's sustainable development. ”

 

Safe Harbor Statement

This news release contains "forward-looking statements" as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Ionix Technology assumes no obligation to update the forward-looking statements. Although Ionix Technology believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Ionix Technology's annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.


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