[New Progress of Jiangxi's Electrolytic Nickel and Cobalt Project] Recently, Tengyuan Cobalt Industry announced a significant investment and expansion plan. The company plans to invest and construct a comprehensive product project with an annual output of 30,000 tons of electrolytic nickel and 3,000 tons of electrolytic cobalt in the chemical industry cluster area of the Rare Earth and New Materials Industrial Park in Ganxian District, Ganzhou City, Jiangxi Province. The total investment of this project reaches RMB 511 million, with an expected construction period of 18 months and an expected completion and commencement of production in December 2025. Upon completion, the project will achieve large-scale production with an annual output of 3,000 tons of electrolytic cobalt and 30,000 tons of electrolytic nickel.

Tengyuan Cobalt Industry has announced that its estimated net profit in the first half of the year will range from RMB 358 million to 465 million yuan, with a year-on-year growth of 343.07% to 475.5%. During the reporting period, the company's performance has achieved significant year-on-year growth, mainly due to the gradual release of production capacity of the investment projects and the third-phase project of Tengyuan Congo, which has led to an increase in the company's cobalt and copper production both domestically and internationally. In addition, the rise in copper sales prices has also significantly improved the company's overall profitability.

Tengyuan Cobalt Industry: 15,000 tons of battery recycling waste materials put into production On January 19th, Tengyuan Cobalt Industry stated on the investor interaction platform that the company has completed the construction and put into production of the comprehensive workshop for recycling 15,000 tons of battery waste materials. At present, the company has achieved the production and sales of lithium carbonate and nickel sulfate.

Tengyuan Cobalt Industry announced on December 19th that the company's production lines for 5,000 tons of lithium carbonate and 10,000 tons of metallic nickel have been put into operation.

Tengyuan Cobalt Industry announced that the first phase of the 40,000 ton ternary precursor and 10,000 ton cobalt oxide project of Ganzhou Tengchi is expected to begin trial production at the end of 2023. The project is currently progressing steadily, and the production line will be put into operation after trial production and debugging. Please continue to follow the company's later disclosed regular reports for specific details.

【Tengyuan Cobalt Industry: The first phase production line of Tengchi Phase I project is expected to be put into operation by the end of 2023】On December 11th, Tengyuan Cobalt Industry publicly revealed that the first phase of the 40,000-ton ternary precursor and 10,000-ton cobalt trioxide project in Ganzhou Tengchi (Phase I) is expected to start trial production by the end of 2023.