Ionix Technology : Provides Updates on its Recent Activities - Form 8-K
March 22, 2023 at 10:23 am EDT
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Ionix Technology, Inc. Provides Updates on its Recent Activities
[Liaoning, China], March 22, 2023: Ionix Technology, Inc. ("IINX" or "the Company") is pleased to provide an update to its various stakeholders on the Company's recent business and operation activities.
The Company was delayed in complying with its filing obligations since mid-2022 due to travel and other restrictions caused by the COVID-19 epidemic. The Company is pleased to announce that it is currently restructuring its principal business to maintain its on-going operation and continued development of its businesses. The restructuring will comprise of reducing resources in sectors that are no longer profitable and exploring potential new opportunities of expansion into profitable industries.
The Company would like to reassure its various stakeholders that it is taking positive actions in procuring the proposed restructuring and will provide a full update to stakeholders as soon as possible.
Ionix Technology Inc. published this content on 22 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2023 14:22:02 UTC.
Ionix Technology, Inc., formerly Cambridge Projects Inc., through its subsidiaries Well Best International Investment Limited (Well Best), Xinyu Ionix Technology Company Limited (Xinyu Ionix) and Taizhou Ionix Technology Company Limited (Taizhou Ionix), is engaged in developing, designing, manufacturing and selling lithium batteries for electric vehicles in China. The Company's products include 18650-2000 milli-ampere-hour (mAh) lithium ion batteries (LIB) for use in lithium cell electronic bicycles, balance cars, scooters, electric vehicles, special vehicles at low speed, energy storage, and other products. Its LIB is a rechargeable electric device within which lithium moves from a negative electrode to a positive electrode during the discharge and back charging. The four main materials used in its LIBs are cathode materials, anode materials, operators and electrolytic solution. Its LIBs are used as the power supply for devices, such as mobile phones, digital cameras and power tools.
IONIX TECHNOLOGY, INC. 
