Running Commentary on the SP Movements., page-11536

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According to the announcement, Zhejiang Huayou POSCO New Energy Co., Ltd. has a total investment of RMB1,008 million and a registered capital of RMB336 million, of which Huayou Cobalt invested RMB201.6 million in cash, accounting for 60% of the registered capital, , POSCO invested RMB 134.4 million in cash, accounting for 40% of the registered capital. Business scope for lithium precursor related materials research and development, production and sales.

Zhejiang POSCO Hurray New Energy Co., Ltd. has a total investment of RMB930 million and a registered capital of RMB310 million. Hurux Cobalt invested RMB124 million in cash, accounting for 40% of the registered capital. POSCO RMB 186 million in cash, accounting for 60% of the registered capital. Operating range of lithium-related precursors, cathode materials and other materials research and development, production and sales.

Huayou Cobalt said that its strategic planning for the "13th Five-Year Plan" will focus on the lithium battery new energy materials industry as its core business of development. This time it formed a joint venture with POSCO, a Korean listed company, to invest lithium energy in new energy materials business. The arrangement made in accordance with the mid- and long-term development strategy is an important measure for the Company to transform and upgrade the lithium-ion energy material industry and is in line with the rapid development of new energy vehicles for the rapid development of new energy vehicles.

At the same time, this joint venture with POSCO will effectively integrate the Company and POSCO's strengths in raw materials, technology and market channels, which will benefit both parties in all aspects of R & D of lithium-ion new energy material products, raw material supply and marketing Cooperation and jointly create an internationally competitive lithium new energy materials industry chain.

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