On November 11, European Xingyuan, a wholly-owned subsidiary of Xingyuan material, signed a fixed-point agreement with the power battery subsidiary of German Volkswagen Group. It is agreed that the European star source will supply wet coated lithium ion battery separator materials to customers from 2025 to 2032. If the agreement is successfully implemented, it is expected that about 2.09 billion square meters of wet coated lithium ion battery diaphragm materials will be supplied during the period from 2025 to 2032.

On November 12, Xingyuan material signed the basic agreement on discussing the transaction relationship with Da Cao Chemical Co., Ltd. and da Cao chemical trade (Shanghai) Co., Ltd. Both parties effectively utilize their respective operating resources through mutual effective use, semi-solid state in China battery mass production with diaphragm. Cao Chemical Co., Ltd. will provide polymer materials for processing into semi-solid battery separators, while star materials will deliver semi-solid battery separators to battery manufacturers for processing into semi-solid batteries.