The 2025 2nd SMM Southeast Asia Automotive Supply Chain Conference was successfully held, featuring the on-site launch of 10 new car models, Southeast Asia brand strategies from three automakers, and SMM Thailand local steel prices. The event facilitated efficient matchmaking between 12+ buyers and 60+ suppliers, preliminarily establishing a communication platform for the entire industry chain of Southeast Asian automotive. Currently, the Southeast Asian NEV industry is entering a critical development phase, with Thailand, Indonesia, and Vietnam each making their own strategic deployments and breakthroughs, while the industry also faces challenges such as supply chain restructuring, competition among technology routes, and localization compliance. Thanks to the support from all parties, SMM's Thailand and Indonesia local pricing systems have been implemented and adopted by core enterprises, establishing a credible cost benchmark for the industry. The 2026 3rd Conference will focus on three core themes: exploring the NEV auto sales potential in Southeast Asia; connecting the last mile of the supply chain and integrating regional industry chain resources; and advancing SMM Southeast Asia metal pricing from a price reference to a transaction benchmark, implementing procurement applications for electrification materials and establishing an executable pricing system. We firmly believe that true progress comes from turning consensus into action. At this conference, BEST sincerely invites you to gather again in Bangkok, to jointly transform strategic blueprints into market competitive advantages, to witness and participate in this extraordinary and far-reaching industry event, and to co-create a brilliant new chapter! Click the to register now. Booth No.: B04 BEST (300580), founded in 1997, is a national-level high-tech enterprise. With total corporate assets exceeding 3.9 billion yuan and more than 2,000 employees, it stands as a leading enterprise in the field of intelligent precision manufacturing. Wuxi Best Precision Machinery Co., Ltd. (Stock Code: 300580), founded in 1997, is a national-level high-tech enterprise. With corporate total assets exceeding 3.9 billion yuan and more than 2,000 employees, standing as a leading enterprise in the field of intelligent precision manufacturing. With nearly 30 years of in-depth dedication to precision intelligent manufacturing, BEST has established three key business segments: First, R&D and manufacturing of precision parts, intelligent equipment, and tooling fixtures; Second, core components for NEVs, hydrogen fuel cells, energy storage systems, and liquid cooling systems of computing power centers; Third, linear motion functional components for industrial machine tools, humanoid robots, and other industries, fully covering core high-end manufacturing tracks. With nearly 30 years of in-depth dedication to precision intelligent manufacturing, Wuxi Best have established three key business segments: first, the R&D and manufacturing of precision components, intelligent equipment and tooling fixtures; second, key parts for new energy vehicles, hydrogen fuel cells, energy storage systems and liquid cooling systems of computing power centers; third, linear motion functional components for industrial machine tools, humanoid robots and other industries, fully covering core high-end manufacturing tracks. The company has established three modern production sites in Wuxi, Anhui, and Thailand. Leveraging the coordinated development of four major industry chain sectors—tooling, casting, precision processing, and intelligent manufacturing—it has built competitive advantages across the entire industry chain, with annual revenue exceeding 1.5 billion yuan. Its clients span the globe, including renowned enterprises such as Garrett, Cummins, and BMW. In 2024, BEST invested and established BYH New Technology Co., Ltd. in Amata City Industrial Estate, Chon Buri, Thailand, covering an area of 80,000 m², with a focus on high-end casting and precision processing to accelerate its expansion outside China. The company has built three modern production bases in Wuxi, Anhui and Thailand. Supported by the coordinated development of four major industrial sectors including tooling, casting, precision processing and intelligent manufacturing, it has formed full-industry-chain competitive advantages with annual operating revenue exceeding 1.5 billion yuan. Its global clients include renowned enterprises such as Garrett, Cummins and BMW. In 2024, Best invested and established BYH New Technology Co., Ltd. in Amata City Industrial Estate, Chon Buri, Thailand. Covering an area of 80,000 square meters, the subsidiary focuses on high-end casting and precision processing to accelerate overseas business expansion. Main Products Adhering to the philosophy of precision craftsmanship and intelligent manufacturing, and backed by mature processes, stringent quality control, and intelligent production lines, the company offers customized products and integrated intelligent manufacturing solutions. We sincerely invite global clients to discuss cooperation for mutual development! Adhering to the philosophy of exquisite craftsmanship and intelligent manufacturing, the company provides customized products and integrated intelligent manufacturing solutions backed by mature technologies, strict quality control and intelligent production lines. We sincerely welcome global business partners to discuss cooperation and seek win-win development! Contact Information Contact Contact Us Yan Caowei 15618581967

Spot market, this week (May 18–22, 2026), spot lead prices were in the doldrums from the beginning to mid-week, with the price center continuing to shift downward. Spot lead prices fluctuated higher in the latter half of mid-week. Downstream buyers mainly made just-in-time procurement and digested existing inventories, and overall spot trading activity was moderate. Regional side, Henan smelters primarily fulfilled long-term contracts, with spot quotation ranges fluctuating and futures discount ranges gradually narrowing. In Hunan, willingness to sell among market participants diverged, with spot orders largely trading at parity with the average price and only sporadic just-in-time procurement transactions. Smelters in Jiangxi and Anhui quoted at premiums of +120-150 yuan/mt ex-works against the SMM #1 lead average price, with some cargoes seeing moderate transactions. Guangdong smelters previously quoted at premiums mostly in the 150-200 yuan/mt range, but due to insufficient finished product inventories, their overall willingness to sell remained cautious.

The year 2026 marks the opening year of the "15th Five-Year Plan." Against the backdrop of intensifying global macro volatility and the deepening advancement of high-quality development in China, the zinc industry is undergoing profound transformation: tightness on the ore side and the release of smelting capacity are creating structural tension, divergence in domestic and overseas inventory reflects the complex dynamics of supply and demand rebalancing, and technological innovation is becoming a key driving force for resolving contradictions and reshaping the landscape. Key areas under the "15th Five-Year Plan" such as new energy and new-type infrastructure are injecting fresh momentum into traditional zinc consumption, while green, low-carbon, and circular economy initiatives are also accelerating the restructuring of industrial logic driven by technological innovation. With the joint support of upstream and downstream enterprises in the zinc industry, industry associations, and all relevant parties, SMM is about to hold the 2026 SMM Zinc Industry Conference & the 8th Hot-Dip Galvanizing Industry Development and Technological Innovation Forum, & the 14th Zinc Salt, Zinc Oxide and Zinc Secondary Resources Development Forum, & the Zinc-Based Materials Development Forum on August 6–8 in Qingdao, Shandong. Themed "Converging Zinc Momentum · Building Zinc Industry · Embarking on a New Journey," the conference is driven by the dual engines of macro perspectives and fundamental analysis, closely aligned with the main thread of high-quality development under the "15th Five-Year Plan," and focused on four key dimensions: macro policies, supply-demand patterns, global trade, and technological innovation. It aims to drive cost reduction and efficiency improvement through technological breakthroughs, respond to market fluctuations through collaborative innovation, and jointly chart a new blueprint for the high-quality and sustainable development of the zinc industry. Chongqing Weiyi Electric Power Co., Ltd. will grandly attend this event, joining industry peers to explore industry development trends and work together to propel the zinc industry to new heights. Click the to register now, and together witness and participate in this extraordinary and far-reaching industry event, co-creating a brilliant new chapter! A Brilliant Launch Located in the shining pearl of Chongqing Liangjiang New Area — the Caijia District of the China (Chongqing) Pilot Free Trade Zone, Chongqing Weiyi Electric Power Co., Ltd. was wholly founded by Mr. Wang Zhongcheng with an investment of 20 million yuan, meticulously built with craftsmanship, and steadfastly dedicated to the electric power industry, striving to become a brilliant rising star in this field. Core Business, Leading the Future The company's business scope is extensive, covering diversified areas including power supply, high-end electrical equipment, environmental protection and energy-saving equipment, non-ferrous metals, metal products, electrical products, office supplies, and labor protection supplies, precisely aligning with every segment of nationally licensed operations. We are not merely operating products; we are contributing to the electrical safety and sustainable development of modern society. Outstanding Quality, Integrity as Foundation Since its establishment, Chongqing Weiyi Electric Power Co., Ltd. has consistently upheld the business philosophy of "outstanding quality forges brilliance, integrity wins the future." With the vision of building an industry benchmark, the company has earned widespread acclaim and high recognition from all sectors of society in the hot-dip galvanizing industry and trade sector. We fully understand that every collaboration is an entrustment of trust, and every product is a conveyance of responsibility. Professional Agency, Service First In the field of wires and cables, we have partnered with top producers in and outside China, and with outstanding product quality, meticulous after-sales service, and efficient logistics delivery, we have won the favour and trust of multiple major projects, including Chongqing Shapingba Fenghuang Plaza, Chongqing International Airport, Changan Jinxiu City, and Chongqing Expressway Service Areas. The laying of every cable bears witness to our relentless pursuit of quality and our ultimate commitment to service. Non-ferrous Metals, Win-Win Cooperation In the field of non-ferrous metal sales, we have established long-term and stable cooperative relationships with well-known enterprises in and outside China, such as Chongqing Yuhuang Electric Power Equipment Manufacturing Co., Ltd. and Chongqing Shuntai Steel Tower Manufacturing Co., Ltd., and have successfully joined hands with industry leaders including Anhui Hongyuan Steel Tower Co., Ltd., Jiangsu Huadian Steel Tower Manufacturing Co., Ltd., Zhejiang Shengda Steel Tower Manufacturing Co., Ltd., and Jiangsu Zhenguang Steel Tower Manufacturing Co., Ltd., jointly writing a brilliant chapter of win-win cooperation. Every collaboration is the best proof of Weiyi Electric Power's strength and credibility. New Energy Exploration, Innovation-Driven Looking to the future, Chongqing Weiyi Electric Power Co., Ltd. is actively engaging in the vast field of new energy, focusing on cutting-edge areas such as PV and energy storage, and has submitted multiple patent applications to the National Patent Office, leading the enterprise's future development through technological innovation. We firmly believe that only through continuous exploration and breakthroughs can we inject more green momentum and unlimited possibilities into the power industry. Fulfilling Social Responsibility and Demonstrating Corporate Commitment Under the leadership of the Beibei District Federation of Industry and Commerce and the unified arrangement of the Caijia Chamber of Commerce, the company actively participated in visits to enterprises in difficulty. In 2024, the company engaged in targeted poverty alleviation in Xiushan County, Chongqing, which was paired with Beibei District, purchasing agricultural and specialty products from Xiushan County to support the development of Xiushan. Moving Forward Together, Creating Brilliance Together "High quality, high efficiency" is our relentless pursuit; "hand in hand, moving forward with you" is our sincere wish; "100% qualified products in exchange for your 100% satisfaction" is our solemn commitment to every client. We warmly welcome guests from all directions to visit us for field trips and business negotiations. Let us join hands and create an even more brilliant tomorrow for the power industry! ◆ Contact Information ◆ Wang Zhongcheng 13500344411 Long Press to Scan the Code and Register Now 2026 SMM Zinc Industry Conference

SMM News, May 22: From May 15 to May 21, 2026, SMM data showed that the weekly operating rate of secondary lead in four provinces in China was 27.62%, up 1.49 percentage points WoW. In Henan, production lines under maintenance resumed production, with the regional operating rate rising 5.9 percentage points. In Jiangsu, raw material shortages led smelters to cut production, with the operating rate pulling back 1.54 percentage points. Production in Anhui and Inner Mongolia remained stable. No production adjustment plans are scheduled across regions next week, and the operating rate is highly likely to remain stable. Meanwhile, attention should be paid to the pace of production resumptions following environmental protection-related controls in Guangdong, as well as the production ramp-up pace of smelters resuming production in Jiangxi.

[SMM Analysis] Regional price gaps stay high. Why have the high-price and low-price regions of sulfuric acid shifted?

SMM May 18: Dealers in Zhejiang reported that end-use consumption in the e-bike lead-acid battery market remained sluggish, with retailers purchasing cautiously and restocking cycles extending to over half a month. Currently, battery wholesale market selling prices remained unchanged, with the main model 48V12Ah at 300 yuan/set. Manufacturers in Jiangsu reported that the off-season trend in the e-bike lead-acid battery market intensified, with May orders continuing to weaken. To ease inventory pressure, factory operating rates had been reduced to 70%, and raw material lead was purchased as needed only. Manufacturers in Anhui reported that replacement demand in the e-bike lead-acid battery market was poor, while OEM orders for complete vehicles were moderate. Currently, factory operating rates were maintained at 80-90%. Additionally, as lead ingot supply was tight, procurement extended to surrounding provinces, with primary lead accounting for the majority.

SMM News, May 15: From May 8 to May 14, 2026, SMM data showed that the weekly operating rate of secondary lead smelters across four provinces in China was 26.13%, down 0.96 percentage points WoW. Smelters in Anhui cut production due to losses and tight raw material inventory; smelters in Henan that previously underwent maintenance plan to gradually resume production next week, while operating rates in Jiangsu and Inner Mongolia were basically stable. Looking ahead to next week, lead prices are likely to be in the doldrums, and the operating rate of secondary lead enterprises is expected to remain stable.

Dear Users, Greetings! In recent years, China's secondary lead industry has accelerated its development toward greater scale and standardization. As the core raw material for secondary lead production, waste lead-acid batteries are integral to the entire process spanning collection, distribution, and smelting. The trading activity, channel stockpiling sentiment, and regional supply-demand divergences of waste lead-acid batteries have become key variables influencing the pricing pace of the lead industry chain. Currently, the industry only has scattered spot cargo quotations and regional transaction information, lacking unified observation indicators that can quantify market purchase willingness, channel wait-and-see sentiment, and the tug-of-war between upstream and downstream. Market practitioners mostly rely on offline inquiries, fragmented information, and subjective experience to judge market conditions, making it difficult to systematically anticipate price turning points and stockpiling pace. Information fragmentation also increases uncertainty in enterprises' procurement, sales, and inventory planning. To address the gap in industry sentiment observation, objectively reflect the true trading atmosphere of waste lead-acid batteries, and help all parties in the industry chain make rational decisions and mitigate operational risks, we officially launch the Waste Lead-Acid Battery Trading Sentiment Index, providing the industry with a standardized, trackable, and comparable sentiment reference benchmark. Starting from May 18, 2026, we will officially publish the East China Waste Lead-Acid Battery Trading Sentiment Index and the North China Waste Lead-Acid Battery Trading Sentiment Index. This index is a comprehensive indicator that quantifies the shipment sentiment of waste lead-acid battery collectors and the purchase willingness of smelters in east China (Anhui, Jiangsu, Zhejiang, Shandong, etc.) and north China (Hebei, Inner Mongolia, Shanxi, etc.). The scoring range is 1-5 (refined to decimals from 1.1 to 4.9), with higher scores indicating more active trading. Collector Scoring Rules 5: Panic selling, urgently offloading at low prices to cash out, no inquiries or buyers 4: Relatively strong sentiment, cautiously shipping in batches, waiting for price increases 3: Normal shipments following market trends, just-in-time procurement, no stockpiling or holding back 2: Relatively weak sentiment, sluggish shipments, scattered and slow transactions 1: No intention to ship, shipments suspended, market sluggish Smelter Scoring Rules 5: Urgently scrambling for goods, aggressively restocking, spot cargo undersupply 4: Concentrated inquiries, large-volume stockpiling, proactively increasing purchases 3: Normal just-in-time procurement, moderate restocking 2: Rare inquiries, only minimal just-in-time procurement 1: No purchase intention, purchases suspended, market sluggish The newly launched regional waste lead-acid battery trading sentiment index aims to provide secondary lead smelters, recycling traders, and upstream and downstream participants in the industry chain with an objective and referable benchmark for market sentiment and supply-demand expectations, helping all parties grasp the trading pace, reasonably arrange stockpiling and shipments, and further enhance operational decision-making efficiency and risk management capabilities. Thank you for your long-standing attention and support for SMM! We fully understand the importance of market sentiment and benchmark indicators for the operational planning of the lead industry chain. Going forward, we will continue to optimize the index compilation methodology to ensure data objectivity, continuity, and reference value. We also welcome valuable feedback from all sectors of the industry to jointly improve the waste lead raw material trading and pricing reference system and collectively promote the standardized and sound development of the secondary lead industry. Best regards! SMM Industry Research - Lead & Zinc Division Duan Pinxi 021-20707894 (duanpinxi@smm.cn) May 15, 2026

Xinbo Shares (003038.SZ) announced that its subsidiary Anhui Xinbo New Energy Vehicle Parts Co., Ltd. plans to carry out the investment and construction of the "New Energy Annual Production of One Million Sets of Lightweight High-end Aluminum Parts Project." The project has a total investment of approximately 100 million yuan, with funding to be sourced through the company's own funds or self-raised capital. The project primarily serves internationally renowned automobile OEMs, with a construction period of six months. Upon completion, the project will help the company further expand the NEV parts market and cultivate new profit growth drivers.

[SMM Cast Aluminum Alloy Morning Comment: Dual Pressure from Policy and Demand, Secondary Aluminum Weekly Operating Rate Pulls Back] ADC12 prices are expected to move sideways in the short term. On the cost side, high-level support, combined with the tightening of reverse invoicing and expectations for production cuts at some enterprises, limits the downside room for prices; however, demand is unlikely to see significant improvement in the short term, and inventory remains in an accumulation cycle, which will continue to suppress upside room for prices. Going forward, key attention should be paid to the recovery of end-use consumption and the further impact of policies on the scale of production cuts on the supply side.