Guangdong Enpack Packaging's (SHE:002846) unit, Jiangsu Yinglian Composite Current Collector, signed a cooperation agreement with a research institute of an automotive company to develop integrated new materials for batteries' composite current collectors, according to a Shenzhen Stock Exchange disclosure on Monday.

Both parties will use their resources for the materials' development, the Chinese metal can manufacturer said.

The company's shares dropped over 4% in recent trade.