On February 9, Dangsheng Technology announced that the company and Huineng Technology signed the strategic cooperation framework agreement on February 6, and the two sides planned to strengthen cooperation in the field of solid-state batteries and new energy industry, give full play to their respective technological advantages and establish all-round strategic partnership in equity investment, battery material cooperation, product mass production and supply, etc.

Both sides will work on solid-state batteries and new energy industry strengthen cooperation in the field and plan to discuss and evaluate the possibility of establishing long-range strategy cooperation relationship. Both parties agree to carry out business exchanges in the spirit of mutual benefit and win-win cooperation, and establish an all-round strategic partnership covering equity investment, battery material cooperation, mass production and supply of products, continue to deepen the development of both sides in solid-state batteries and new energy industries, and enhance their respective proprietary technology advantages through the above cooperation to jointly enhance the market competitiveness of both sides.

The two parties agree to carry out the cooperation discussion between equity participation and material verification and import in accordance with the following cooperation contents, and gradually establish a long-range strategy cooperation relationship, as follows:

1. Equity investment: in order to make the cooperation between the two parties closer, after the signing of this framework agreement, both parties will try their best to discuss the equity investment of party A or Party A's affiliated enterprises. Regarding the specific amount, method, time arrangement and other cooperation details of investment cooperation, both parties agree to sign another equity investment related agreement in the future.

2. Mass production cooperation of battery materials: Party a verifies and imports party B's battery materials, and Party B provides materials that meet Party A's specifications for party A to test, and jointly analyzes the test report and improvement direction. According to the test results of materials provided by Party B, both parties will discuss the next material cooperation mode, aiming at promoting Party B's mass production of materials available for party A.

3. Discussion on priority procurement mode: in order to build a global supply chain of battery materials, on the premise of ensuring that it conforms to the interests of both parties, if party B's battery materials can be used for Party A's solid-state batteries after testing and verification, and reach the mass production stage within the agreed time, both parties will give priority to purchasing party B's battery materials based on market conditions without affecting Party A's cost competitiveness, supply safety and product quality. The specific methods, preferential conditions, procurement time arrangement and other rights and obligations of procurement cooperation will be agreed in writing separately.

4. In order to ensure the smooth progress of the above cooperation content, both parties should set up working groups to jointly formulate work plans and partners.The case, coordinate various work contents, hold regular working group meetings, and actively promote the strategic cooperation process between the two sides.

Term of performance this agreement shall take effect from the effective date and shall be valid for five years. If either party wishes to terminate this agreement in advance, it shall notify the other party in writing 30 days in advance to terminate this agreement. If both parties fail to sign a written agreement on the battery materials and investment content stipulated in Article 2 of this agreement within two years from the effective date of this agreement, this agreement will automatically terminate after two years from the effective date without further notice.

The company said that as the world's leading supplier of new energy cathode materials, the company has rich technology accumulation and complete product layout in the field of solid-state battery materials, covering sulfide, oxide, different technical routes such as halides have successfully developed new solid electrolyte such as chlorine iodine composite sulfide solid electrolyte with good interfacial infiltration, and ultra-high nickel multi-component materials and ultra-high capacity lithium-rich manganese-based materials for all-solid-state batteries. This time, we signed a strategic cooperation framework agreement with Huaneng technology. The two sides will jointly give full play to the advantages of technology and resources, which is conducive to accelerating the import and performance optimization of the company's solid-state battery material products, promote the company's deep integration into the global advanced solid-state battery supply chain, form an industrial ecosystem of close coordination and mutual benefit with downstream customers, and jointly promote the mass production process of all-solid-state battery industry. This cooperation is an important measure for the company to promote the layout of solid-state battery materials. It conforms to the company's strategic development plan and will further strengthen the company's technical first-mover advantage and mass production capability in the field of next-generation battery materials.