Lithium Huitong reaches a cooperation framework agreement with SMM

In December 2020, Changsha Mining and Metallurgical Research Institute Co., Ltd.-"Lithium Huitong" power battery recovery service platform (hereinafter referred to as "Lihuitong" platform) formally signed a cooperation agreement with SMM Information & Technology Co., Ltd. After friendly negotiation, adhering to the principle of cooperation, it will carry out omni-directional and in-depth cooperation through resource sharing and complementary advantages in terms of joint quotation, interconnection promotion and offline summit. Jointly promote and improve the construction of China's power battery recycling system, guide and standardize the healthy, stable and sustainable development of the industry.

SMM (Shanghai Nonferrous)-Lithium Huitong waste Lithium Battery spot quotation system is a set of waste lithium battery recycling price calculation and disclosure mechanism, which is a joint operation of SMM and Lithium Huitong platform. Through cooperation with hundreds of enterprises in the upstream and downstream of the industry chain, the system collects their expected prices and transaction data, and combines Shanghai Nonferrous Metals Industry Portal. On the premise of maintaining data consistency and fully considering the privacy of user data, the design of the data base is completed, and according to the different attributes of the data fields of both sides, combined with complementarity, the data are effectively analyzed and calculated. Jointly launched a guiding pricing model to standardize the industry price system, which is expected to establish industry authority pricing and solve the current situation of chaotic quotation in the domestic decommissioned power battery recycling market.

SMM is a metal information portal with the largest number of customers, the most abundant data and information and far-leading visits in the domestic metal industry. Every day, the authoritative release of "Shanghai Nonferrous Metals Price Index (SMMI)" comprehensively reflects the overall situation and prosperity of China's non-ferrous metals market.

At present, the two sides are still in the data docking preparation stage of the quotation system, and it is expected that in early April, Lithium Huitong, the official website of Shanghai Nonferrous net, Palm Nonferrous APP and SMM Cobalt Lithium New Energy official account will be launched for trial operation at the same time, and will be officially announced and promoted at the 6th China International Nickel-Cobalt-Lithium Summit Forum at the end of May.