Caifei, May 25 (Xinhua)-- Jiujiang Tianzhi, a wholly-owned subsidiary, has jointly invested with Central Niuzi Co., Ltd. to set up a Sino-foreign joint venture Tianzhi (Jiujiang) New Materials Co., Ltd., with a registered capital of 450 million yuan. The joint venture has planned annual production capacity of 150000 tons of lithium hexafluorophosphate (LiPF6) concentrate and 70000 tons of solvent.