SMM4, April 14: on April 13, Greenmei announced that in order to further promote the cooperation between the company and South Korea's ECOPRO Co., Ltd. ("ECOPRO") in the business of NCA&NCM high nickel precursor materials for new energy power batteries, Fuan Qingmei Energy Materials Co., Ltd. ("Fuan Qingmei"), a subsidiary of the company, recently signed an investment memorandum of understanding (MOU) with ECOPRO on the cooperation of NCA&NCM high nickel precursor materials for new energy power batteries.

ECOPROBM is a subsidiary of ECOPRO and ECOPRO is a global core manufacturer of high nickel cathode materials and an external core supplier of NCA cathode materials for Samsung SDI. NCM8 series and 9 series precursors are the latest generation of high nickel precursor materials for power battery. this cooperation effectively promotes the technical progress, scale expansion and market internationalization of NCM8 series and 9 series high nickel ternary precursors, which will further establish the company's core position in the global market of high nickel ternary precursors and enhance the global market share of the company and both NCM high nickel ternary materials. By June 2020, Fuan Qingmei and ECOPRO have agreed to set up a joint venture in Fuan Qingmei Park by 51%: 49%. The main production target of high nickel precursor NCA and NCM, is 24000 tons in 2022 and 48000 tons in 2024. Among them, nickel, cobalt and other raw materials and auxiliary materials and electricity, water, steam and other energy use related parts, based on the Fuan Tsing Mei existing infrastructure deployment and operation as the principle; Fuan Qingmei and its shareholders actively assist in the supply of nickel wet smelting intermediates (MHP), nickel sulfate crystals, cobalt sulfate crystals and other raw materials.

Greenmei said that this cooperation will combine the advantages of all parties, jointly build the whole industry chain of the global core competitiveness of "nickel cobalt raw materials-NCA&NCM high nickel precursors-NCA&NCM high nickel ternary materials", enhance the global market share of high nickel ternary materials, and effectively promote the technological progress, scale expansion and market internationalization of the company's high nickel NCA and NCM ternary precursor materials. Further establish the company's core position in the global market of high-nickel ternary precursor materials, and comprehensively promote the company to build a "Chinese ternary core" of high-nickel cathode materials for automotive power batteries.

Greenmei's ternary precursor business supplies world-renowned companies. Mainly supply CATL, BYD, Panasonic, LG and Samsung five power battery industry chain enterprises, supply enterprises including Samsung SDI, ECOPRO, Ningbo Rongbai, Xiamen tungsten industry and other enterprises. The company shipped 33000 tons of ternary precursors in the first half of 2019, of which 25600 tons, or 77 per cent, were supplied to the world's top five power battery supply chains. Existing orders, including CATL, Samsung SDI, ECOPRO and Xiamen Tungsten, have exceeded 30, 000 tons. Shipments are expected to exceed 70, 000 tons in 2019 and are expected to reach 100000 tons in 2020.

The announcement said that the signing of the investment memorandum of understanding with ECOPRO highlights the company's technical status and quality brand status in high-nickel precursor materials, and plays an important role in enhancing the full participation of the company's high-nickel precursor materials in the international mainstream market competition, further expanding the international high-end power battery market, and is conducive to enhancing the profitability and global core competitiveness of the company's power battery materials business.

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