Every time through the AI newsletter, some investors ask questions on the investor interactive platform: Mr. Li, hello! Recently, there have been rumors in the market that LGES, Huayou, and Xingfa Group are discussing cooperation. LG will produce LFP lithium iron phosphate soft pack batteries, Huayou Cobalt will supply lithium carbonate, and Xingfa Group will supply lithium iron phosphate. In addition, it is said that Huayou Cobalt has established a Lithium Division. May I ask Mr. Li whether the rumors are true? Thanks!
Huayou Cobalt (603799.SH) stated on the investor interaction platform on November 9 that the company and Hubei Xingfa Chemical Group recently signed a “Cooperation Framework Agreement” to build 500,000 tons/year of iron phosphate and 500,000 tons/year Lithium iron phosphate and related supporting projects. The company’s holding subsidiary Bamo Technology and Huayou Holding Group signed the “Letter of Intent for the Acquisition of Equity”. Bamo Technology intends to purchase the Inner Mongolia Sheng Vanadium Technology New Energy Co., Ltd. 100 held by it by paying cash or issuing new shares from Huayou Holdings. % Equity to expand lithium iron phosphate business. At present, the related lithium iron phosphate business is still in the preliminary stage of layout preparation. The subsequent specific cooperation/transaction plan, content, advancement time and other matters need to be further negotiated by both parties and determined according to the corresponding decision-making and approval procedures in accordance with the law, and the specific contract signed by both parties subsequently Prevail. If there are other statutory matters that need to be disclosed, the company will perform its information disclosure obligations in strict accordance with relevant laws and regulations.
(Reporter Yuan Dong)
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