Tianyi Lithium Industry, a subsidiary of Tianyi, signed a 5-year exclusive cooperation agreement with AMG Mining to expand the production of spodumene concentrate.

Recently, Yibin Tianyi Lithium Industry Science and Technology Co., Ltd. (Tianyi Lithium Industry Co., Ltd.), a holding subsidiary of Suzhou Tianhua Chaojing Technology Co., Ltd., signed a "spodumene concentrate expansion and 5-year exclusive cooperation agreement" with Brazil's AMG Mining Company ("AMG"). This cooperation agreement requires AMG to provide at least 200000 dry metric tons of spodumene concentrate, which will be delivered within 5 years after the completion of AMG capacity expansion, and the new capacity will be supplied exclusively to Tianyi Lithium Industry, with a tentatively estimated sale and purchase agreement of US $90 million.

The two parties have reached an agreement in writing at least two months before the end of the cooperation period, and the two parties may choose to extend this cooperation agreement for another five years. According to the price formula, the lithium carbonate price of LiAv in the price formula is the average price of lithium carbonate (99.5% battery grade / domestic) published by SMM.