Samsung SDI has made an equity investment in FINO, the Korean subsidiary of CNGR. The investment was carried out through participation in a third-party allotment capital increase. FINO announced on the 27th that it will issue new shares worth KRW 70 billion via a third-party allocation, totaling 14,294,467 common shares at an issue price of KRW 4,897 per share.

CNGR has deployed two salt lake lithium mines in Argentina, with estimated lithium resources exceeding 10 million metric tons of lithium carbonate equivalent (LCE). This resource volume is expected to increase as exploration progresses. The company will further confirm the reserves of the two salt lake lithium mines and proceed with extraction based on exploration and construction progress, as well as its own and market demand. CNGR will disclose relevant developments regarding the Argentine lithium mines in accordance with relevant regulations.

On April 29, 2025, SMM Senior Director Jin Yu, Secondary Aluminum Head Weiquan Ding, International Recycling Head Xiaoyao Zhang, and Senior Aluminum Analyst Shihao Yang visited Hunan Tonghe New Material Co., Ltd. . They were warmly welcomed by Chairman Jingwei Qiu, Deputy General Manager Shuai Kang Qiu, and their team. Subsequently, both parties engaged in discussions and exchanges on the secondary aluminum market and the development of the non-ferrous metals landscape. Through this discussion, both sides enhanced their mutual understanding and recognition, laying a solid foundation for deepening cooperation and achieving mutual benefits in the future. Company Introduction Sustainable Development of Tonghe There is no such thing as waste in the world, only resources misplaced. Aluminum possesses excellent recyclability, allowing it to be reused multiple times without affecting its performance. The recycling of aluminum does not cause environmental pollution, with energy consumption being less than 5% of that required for primary aluminum production. The industrial process is short, with minimal emissions of harmful gases and dust. From the perspectives of resources, environment, market, as well as social and economic benefits, aluminum recycling is a cause that benefits the present and contributes to future generations. Driven by our pursuit of this noble cause, in 2018, eight companies—Hunan Hengxinrui Nonferrous Metals Co., Ltd., Miluo Ruishen Nonferrous Metals Co., Ltd., Miluo Guixin Nonferrous Metals Co., Ltd., Hunan Boji Nonferrous Metals Co., Ltd., Hunan Xinlong Yunyun Metal Products Co., Ltd., Miluo Xiongjun Nonferrous Metals Co., Ltd., Miluo CNGR Nonferrous Metals Co., Ltd., and Miluo Xiangheng Nonferrous Metals Co., Ltd.—were restructured to form the new Hunan Tonghe New Material Co., Ltd. We invested 200 million yuan in the Miluo Circular Economy Industrial Park in Hunan Province to build a new production facility with an annual capacity of 200,000 mt of die-cast aluminum alloy ingots and secondary aluminum billets. Based on the concept of industrial ecology, we adopted internationally advanced scientific technologies to improve the quality of secondary aluminum while minimizing or even eliminating the adverse environmental impacts of aluminum recycling. A garden-style secondary aluminum plant, surpassing international advanced standards, was established in the Miluo Circular Economy Industrial Park in Hunan. No matter how times change, Tonghe will always adhere to the development philosophy of integrity, conservation, environmental protection, and sustainable operation. We will continue to forge ahead, innovate boldly, and prioritize people, thereby fulfilling our social responsibility of united and harmonious development as Tonghe Company. SMM Contact Person Weiquan Ding 18029344837

The first meeting of the National Task Force on the Recycling of Power Batteries from New Energy Vehicles (NEVs) emphasized the need to improve the regulatory and standards system, accelerate the formulation of relevant laws and regulations, and develop and revise mandatory standards such as safety technical specifications for various types of lithium batteries, in order to regulate recycling practices through legal means and lead the high-quality development of the industry with standards.

On May 16, at the 2025 SMM (6th) Silver Industry Chain Innovation Conference , hosted by SMM Information & Technology Co., Ltd. (SMM), co-organized by Ningbo Haoshun Precious Metals Co., Ltd. and Quanda New Materials (Ningbo) Co., Ltd., and strongly supported by sponsor organizations including Fujian Zijin Precious Metals Materials Co., Ltd., Huizhou Yian Precious Metals Co., Ltd., Jiangsu Jiangshan Pharmaceutical Co., Ltd., Zhengzhou Jinquan Mining and Metallurgy Equipment Co., Ltd., Hunan Shengyin New Materials Co., Ltd., Zhejiang Weida Precious Metals Powder Materials Co., Ltd., Guangxi Zhongma Zhonglianjin Cross-border E-commerce Co., Ltd., Suzhou Xinghan New Materials Technology Co., Ltd., Yongxing Zhongsheng Environmental Protection Technology Co., Ltd., IKOI S.p.A, Hunan Zhengming Environmental Protection Co., Ltd., Kunshan Hongfutai Environmental Protection Technology Co., Ltd., and Shandong Humon Smelting Co., Ltd., Ding Gangqiang, Deputy Chief Engineer and Researcher at CSSC Huanggang Precious Metals Co., Ltd., discussed the topic of "Current Status and Prospects of Silver Applications in the Photovoltaic Industry." 1. Background Overview ► Photovoltaic Industry Chain: ► Applications of Silver in the Photovoltaic Industry: ► Structural Diagram of Solar Cells: In addition, he shared the technology roadmap for crystalline silicon solar cells. 2. Analysis of the Current Status of Silver Applications in the Photovoltaic Industry ► Current Status Analysis • Silver Nitrate: Silver nitrate is an important product of deep processing of silver and serves as a raw material for many other deep-processed products. It is mainly used in fields such as photovoltaics, electronics, petrochemicals, mirror manufacturing, pharmaceuticals, and photography. • PV Silver Powder: The requirements for PV silver powder include high sphericity, high dispersibility, narrow particle size distribution, high tap density, and surface roughness, which enable the paste products to achieve good photoelectric conversion efficiency and stable electrical performance. • PV Silver Paste: PV Silver Powder: The size of silver powder particles affects the contact resistance and open-circuit voltage, as well as the resistivity of the silver grid lines. Glass Frit: Glass frit serves to etch the silicon nitride layer. The type of glass frit affects the performance of the front-side silver paste, thereby influencing the photoelectric conversion efficiency of solar cells. Organic Vehicle: The organic vehicle acts as a carrier for the ultrafine silver powder and glass frit, providing a dispersing effect, which in turn affects the processability of screen printing. • Silver Paste Consumption in Crystalline Silicon Solar Cells: With advancements in various electrode and printing manufacturing technologies, the silver consumption per unit for mainstream cell types such as PERC, TOPCon, and HJT has been decreasing year by year. • Laser-Enhanced Contact Optimization (LECO) decouples passivation damage and ohmic contact, enhancing cell metallization. The core principle of laser-assisted sintering technology lies in leveraging the high energy concentration and controllability of lasers to separate the two steps of passivation layer erosion and ohmic contact formation during the high-temperature sintering process, thereby achieving efficient and precise control over the sintering process. • Silver-coated copper paste: PV companies are actively exploring electrode technologies that utilize base metals such as copper to replace silver, primarily divided into silver-coated copper paste combined with screen-printing technology and copper electroplating technology. The silver-coated copper powder technology reduces silver usage by coating silver onto the surface of copper powder. By adjusting the ratio of silver to copper, it ensures conversion efficiency while lowering the cost of silver paste. Silver-coated copper powder: Contains 15% silver. • Silver recovery from PV modules: According to forecasts by the Zero Carbon Research Institute, by 2030, the cumulative amount of discarded PV modules in China is expected to reach around 18GW, approximately 1.5 million mt, with an output value of about 6.1 billion yuan. By 2050, the cumulative amount of discarded PV modules is projected to reach 253GW, approximately 20 million mt, with an output value of 90 billion yuan. • Circular economy of PV modules 3. Analysis of the current market situation and development prospects of silver in the PV industry ► Market Analysis • Global and Chinese new PV installations The global market demand for PV power generation is expected to improve, with major countries such as the US, Europe, and India experiencing stable growth in demand for PV power generation. Emerging countries in the Middle East, Africa, and Latin America are anticipated to see steady growth in demand for PV modules due to declining levelized costs of electricity (LCOE) from PV, urgent power shortages, and strong government support for renewable energy transitions, driving global demand growth. • Demand for PV silver paste and PV silver powder: The market size for PV silver paste is expected to continue growing in the coming years. In 2024, the demand for PV silver powder is estimated to be around 7,217 mt, with a corresponding market size exceeding 40 billion yuan. • Production statistics of silver nitrate in China Statistics show that the production of silver nitrate in China has been increasing year by year, with an annual growth rate exceeding 20%. Major domestic silver nitrate producers: CSSC Huanggang Precious Metals Co., Ltd., Tongbai Hongxin New Materials Co., Ltd., Lanzhou Jinchuan Science and Technology Industrial Park Co., Ltd., Xilong Scientific Co., Ltd., Zhejiang Hongda New Materials Development Co., Ltd., etc. • Production statistics of silver nitrate in China from 2022 to 2024 It introduces the monthly production statistics of SMM silver nitrate in China from 2022 to 2024. • Proportion of silver demand in China by sector It elaborates on the breakdown of silver applications in the industrial sector and the distribution of China's silver consumption structure in 2024. • Production of major silver nitrate producers in China It introduces the production proportion of major silver nitrate producers in China. It also elaborated on other major domestic silver nitrate enterprises, including Quanda New Materials (Ningbo) Co., Ltd., Guangdong Vital New Materials Co., Ltd., Fujian Fuxuan Technology Co., Ltd., Hunan CNGR New Silver Materials Technology Co., Ltd., and Changzhou Guoyu Environmental Protection Technology Co., Ltd. Finally, it introduced the development history and main industries of CSSC Huanggang Precious Metals Co., Ltd. 》Click to view the special report on the 2025 SMM (6th) Silver Industry Chain Innovation Conference

The scrap battery recycling industry has long faced two major price pain points: ▲ High Recycling Costs : The traditional process is cumbersome, leading to high recycling costs and severely compressing the profit margins of enterprises. ▲ Chaotic Pricing Mechanism : Informal channels disrupt the market through low-price competition, making it difficult for legitimate businesses to stand in price wars. How to Eliminate Price Barriers? How Can the Scrap Battery and Secondary Lead Industries Break Through? [This Time, We Will Make a Concession on Price!] GBRC 2025 SMM Battery Recycling and Circular Industry Conference , will be held on August 14-15, 2025 , in Ningbo, Zhejiang . Super Early Bird Price: Register before May 30th and enjoy a super early bird discount, saving 800 yuan! [At Previous Battery Recycling Conferences, These Companies Were All Present (Only Some Listed)!] (Among the previous attendees, 35% were Chairmen and General Managers ; 39% were Sales and Procurement Executives ) ▲Lead Battery Recycling Companies: Zhejiang Tianeng Environmental Technology Co., Ltd. Zhejiang Chilwee Bafang Recycling Industry Co., Ltd. Shanghai Xinyun Guixi Metal Recycling Co., Ltd. Anhui Hongyu Qian Environmental Technology Co., Ltd. Jiangmen Leen Renewable Resources Co., Ltd. Nantong Lishi Environmental Technology Co., Ltd. Chengdu Xupai Environmental Technology Co., Ltd. Suzhou Blue Port Environmental Technology Co., Ltd. Sichuan Rongsheng Changhong Renewable Resources Recycling Co., Ltd. Jiangsu Jieyu Renewable Resources Co., Ltd. Jiangsu Kuaidian New Energy Technology Co., Ltd. ▲Secondary Lead Smelters: Taihe County Dahua Energy Technology Co., Ltd. Anhui Lukong Environmental Protection Co., Ltd. Camel Group (Anhui) Renewable Resources Co., Ltd. Anhui Tianshuo Metal Materials Co., Ltd. Jiangsu New Chunxing Resource Recycling Co., Ltd. Zhejiang Tianeng Resource Recycling Technology Co., Ltd. Henan Yuguang Gold Lead Co., Ltd. Jiyuan Hongda Resource Comprehensive Utilization Co., Ltd. Jiyuan Juxin Resource Comprehensive Utilization Co., Ltd. Jiangsu Haibao New Energy Co., Ltd. ▲Power Battery Recycling Companies: GEM Co., Ltd. Guangdong Brunp Recycling Technology Co., Ltd. Zhejiang Huayou Cobalt Co., Ltd. Guangdong Guanghua Sci-Tech Co., Ltd. Ganfeng Lithium Co., Ltd. Jiangxi Miracle Golden Tiger Cobalt Co., Ltd. Ganzhou Hao Peng Technology Co., Ltd. Zhejiang New Era Zhongneng Technology Co., Ltd. CNGR Advanced Materials Co., Ltd. Anhui Xunying Power Energy Technology Co., Ltd. Ganzhou Tengyuan Cobalt Co., Ltd. Xiamen Tungsten Co., Ltd. Shanghai BYD Co., Ltd. Lv Xun New Energy Technology (Foshan) Co., Ltd. ▲Battery Companies: Tianeng Battery Group Co., Ltd. Chilwee Group Leoch International Technology Co., Ltd. Guangzhou Great Power Energy & Technology Co., Ltd. Gotion High-tech Co., Ltd. REPT Battero Energy Co., Ltd. Phylion Battery Co., Ltd. SVOLT Energy Technology Co., Ltd. Zhuhai CosMX Battery Co., Ltd. Desay Battery Technology Co., Ltd. EVE Energy Co., Ltd. Farasis Energy (Ganzhou) Co., Ltd. Ganfeng Lithium Co., Ltd. Contemporary Amperex Technology Co., Limited BYD Company Limited Shenzhen Highpower Technology Co., Ltd. SEVB Sungrow Power Supply Co., Ltd. Jiangsu Haibao New Energy Co., Ltd. Xupai Power Supply Co., Ltd. Jingjiu Power Technology Co., Ltd. Fengfan Co., Ltd. Jujiang Power Manufacturing Co., Ltd. Camel Group Co., Ltd. Zhejiang Just Electrical Appliances Co., Ltd. [Detailed Conference Agenda] [ Supply and Demand & Closed-Door Meetings | August 14] 08:00-10:00 Registration 10:00-12:00 Closed-Door Discussion on Secondary Lead, Closed-Door Seminar on Power Battery Recycling 10:00-12:00 Supply and Demand Exchange for the Battery Recycling Industry (Endless Business Opportunities) 12:00-13:30 Buffet Lunch [ Main Forum | August 14] 13:30-13:50 Opening Remarks of the Conference 13:50-14:20 Current Situation and Future Development Trends of the Battery Recycling Market Guest Speaker: Li Shilong, Chairman, China Technology Innovation Strategic Alliance for Resources Recycling Industry (CIAR) 14:20-14:50 Competition and Cooperation Between Lead-Acid Batteries and Lithium Batteries Under the "Dual Carbon" Goals Invited Company: Leoch International Technology Co., Ltd. 14:50-15:20 Market Prospects Analysis of the Dual Drive of "Old-for-New" Policy on Battery Consumption and Recycling Invited Company: Zhejiang Tianeng Resource Recycling Technology Co., Ltd. 15:20-15:50 Comparison of China's "Whitelist" System and Germany's Dual-Track System (GRS and PRO Systems) on Recycling Efficiency Invited Guest: Wang Qi, Chinese Academy of Environmental Sciences 15:50-16:20 The "Technological Watershed" in Lithium Battery Recycling: Commercial Competition Between Pyrometallurgy and Hydrometallurgy Invited Company: Guangdong Brunp Recycling Technology Co., Ltd. 16:20-16:50 Roundtable: Lead-Acid vs. Lithium: Full Life Cycle Tracking 1. Current Status of Lead-Acid and Lithium Battery Recycling Market 2. Impact of Trade-In Policy on the Battery Recycling Market Proposed Companies to Invite: Zhejiang Chilwee Bafang Recycling Industry Co., Ltd., Zhejiang Tianneng Resource Recycling Technology Co., Ltd., Jiangsu New Chunxing Resource Recycling Co., Ltd., Anhui Lukong Environmental Protection Co., Ltd., Tianqi Lithium Corporation, GEM Co., Ltd., Guangdong Brunp Recycling Technology Co., Ltd., Lvxun New Energy Industry (Guangdong) Co., Ltd. 16:50-17:20 Interpretation of the Impact of Increased China-US Tariffs on the Battery Import and Export Market Proposed Company to Invite: China Industrial Association of Power Sources [ Secondary Lead Forum| August 15, Morning] 09:00-09:25 Policies, Regulations, and Reverse Invoicing: A Policy Framework for Promoting the Development of the Circular Economy Proposed Guest Speaker: He Yi, Hazardous Waste Department, Solid Waste and Chemicals Management Technology Center, Ministry of Ecology and Environment 09:25-09:50 Breakthrough Strategies for Enterprises Amidst Overcapacity in the Secondary Lead Industry Proposed Company to Invite: China Nonferrous Metals Recycling Industry Association 09:50-10:15 Extraction Technologies for By-Products from Comprehensive Polymetallic Recycling and Smelting: Antimony, Bismuth, Tin, etc. Proposed Company to Invite: Central South University 10:15-10:35 Analysis of the Supply-Demand Pattern of Lead-Containing Scrap in the Next 3-5 Years Guest Speaker: Wang Meili, SMM Information & Technology Co., Ltd. 10:35-11:00 Interpretation of Policies and Market for Secondary Lead Going Global Proposed Guest Speaker: Chen Wenkai, President, Malaysia Non-Ferrous Metals General Chamber of Commerce 11:00-11:25 Current Status of the Waste Lead-Acid Battery Recycling Market: A Case Study of Yunnan, Guizhou, and Sichuan Regions Proposed Guest Speaker: Dong Chenglin, Chengdu Xinjuxin Environmental Protection Technology Co., Ltd. 11:25-11:50 2025-2026 Fundamentals and Price Analysis of Lead Ingot Consumption Guest Speaker: Xia Wenming, Senior Analyst, Lead and Zinc Industry Research Group, SMM Information & Technology Co., Ltd. 12:00-13:30 Buffet Lunch [ Power Battery Recycling Forum| August 15, Morning] 09:00-09:25 Global Analysis of the Power Battery Recycling and Reuse Market Proposed Company to Invite: Hydrometallurgy Branch, China National Resources Recycling Association 09:25-09:50 New Approaches to Building the Lithium Battery Recycling System from the "Guidelines for the Construction of a Recycling System for Lithium-Ion Batteries from Electric Bicycles" Proposed Guest Speaker: Zan Xiangming, Secretary General, Anhui Province New Energy Vehicle Power Battery Recycling Industry Alliance 09:50-10:15 Demand Analysis and Market Entry Strategies for Lithium Battery Recycling in Overseas Emerging Markets Proposed Guest Speaker: Zhou Jiang, Vice President, International Business Department, Contemporary Amperex Technology Co., Limited 10:15-10:35 Technological Breakthroughs and Applications of Targeted Leaching Strategies Based on Primary Cell Effects in Lithium Battery Recycling Proposed Guest Speaker: Li Jinhui, Professor, Tsinghua University 10:35-11:00 Practical Applications of Artificial Intelligence in Intelligent Sorting and Process Optimization for Lithium Battery Recycling Proposed Guest Speaker: Dou Dejing, Professor, Fudan University 11:00-11:25 Industry Dynamics and Trends Following the Implementation of Black Mass Import Policies Guest Speaker: Lin Ziya, Lithium Battery Recycling Industry Analyst, SMM Information & Technology Co., Ltd. 11:25-11:50 Roundtable: The New Ecosystem of Lithium Battery Recycling: How Can Automakers, Battery Manufacturers, and Recycling Enterprises Break Through in the Billion-Dollar Market? Proposed Invited Enterprises: BYD Auto Industry Co., Ltd., Contemporary Amperex Technology Co., Limited, Tianqi Lithium Corporation, Jiangxi Ganfeng Lithium Group Co., Ltd., Hefei Gotion High-tech Power Energy Co., Ltd. 12:00-13:30 Buffet Lunch