SMM News: Longji Machinery announced that with the sustainable development of new energy vehicles and battery technology, the speed at which new energy vehicles replace traditional fuel vehicles continues to accelerate. Combined with the development of the industry, the company intends to launch an investment layout in the new energy battery industry chain. After friendly negotiation, the company signed the Framework Agreement on Investment Cooperation with Nanshi Industrial Investment Group Co., Ltd. ("Nanshi Group") and Jiangxi Nanshi Lithium Power New material Co., Ltd. ("Nanshi Lithium Power") on April 5, 2020.

The company intends to contribute to the establishment of a fund with new energy as the main investment direction (the name is to be determined, subject to the industrial and commercial registration information at the time of establishment, "New Energy Fund"), the total size of the fund does not exceed 400 million yuan, of which the company's contribution does not exceed 200 million yuan. Through the new energy fund, the company intends to invest in lithium power to assist the strategic development of lithium power.

Based on the high quality resources of "Asian Lithium Capital" in Yichun, Nanshi Group implemented industrial structure adjustment, transformation and upgrading, and began to invest in battery-grade lithium carbonate industry in 2017. engaged in the comprehensive utilization of lithium mica to prepare lithium carbonate, lithium hydroxide and Rb (rubidium), Cs (Caesium) and other high value-added products research and development, production and sales, the implementation of the construction of "lithium power material front-end industry chain integration" development layout, To achieve the "mining-mineral processing-lithium salt" complete industrial chain.

Nanshi Lithium Power is the core enterprise of the new energy industry chain of Nanshi Group, and is the main body of this investment cooperation. Nanshi Lithium Power "low-grade lithium mica resources comprehensive utilization of battery-grade lithium carbonate and alkali metal recovery key technology and industrialization" project has reached the international leading level through expert evaluation. The project "key Technology and industrialization of Battery Grade Lithium Carbonate and Alkali Metal recovery from low Grade Lithium Mica Resources" undertaken by Nanshi Lithium Power was evaluated by national experts organized by China Nonferrous Metals Industry Association in November 2019. It was awarded the first prize of science and technology in China's non-ferrous metal industry in 2019. According to the Lithium Branch of the China Nonferrous Metals Association, the output of lithium carbonate products of South's lithium battery grade ranked third in the country in the first half of 2019.

Therefore, the agreement belongs to the framework agreement, and the specific investment agreement has not yet been signed. The impact and synergy on the specific business of the company will depend on the signing of the subsequent formal investment agreement. For the time being, it is impossible to predict the impact on the operating performance of the company this year and beyond.

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