Guangdong Xianglu Tungsten Industry Co., Ltd. announced today that it has signed a "Strategic Cooperation Framework Agreement" with China Tungsten High-tech Materials Co., Ltd. it is proposed to carry out extensive and in-depth exchanges and cooperation in tungsten resources development, smelting, powder and deep processing, and various ownership companies, so as to establish a strategic partnership.
The main contents of the agreement are as follows:
1. Business cooperation
Xianglu tungsten industry buys tungsten concentrate, ammonium paratungstate, cobalt powder, tungsten bar and other tungsten raw materials and products, and signs long-term tungsten raw material supply contracts; medium tungsten high-tech purchases tungsten oxide, tungsten carbide powder, alloy bars and other products from Xianglu tungsten industry, used for export sales and production raw materials of cemented carbide micro bits, milling cutters and special precision cutting tools.
two。 Technical cooperation
The two sides and their subordinate companies shall carry out technical exchanges through various channels to enhance the technological level of both sides and promote the technological progress of the industry; jointly formulate technical standards to improve the technical level of the industry; and jointly carry out forward-looking, basic and public technological research, set up a joint research group.
3. Other projects where the two sides can cooperate with each other with complementary resources.
The impact of the signing of the agreement on the company:
1. Both parties to the agreement are backbone enterprises in China's tungsten industry. The establishment of a strategic partnership between the company and China Tungsten Hi-Tech will help to achieve the goal of complementary advantages, mutual benefit and common development, and speed up the implementation of the company's overall business strategy.
two。 This strategic cooperation will have a positive impact on the future development of the company, but there is some uncertainty in the implementation of this strategic cooperation agreement and the implementation of subsequent specific cooperation projects. therefore, the impact on the company's future annual operating performance can not be accurately predicted.
3. The signing of this agreement will not affect the independence of the company's business.
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