[Solid-state battery: Xiba Youyan to establish a joint venture to advance lithium sulfide business] On August 4, 2025, Shanghai Xiba (603200.SH) plans to collaborate with GRINM Rare Earth New Materials Co., Ltd. to establish a new joint venture aimed at advancing the expansion of its lithium sulfide business. With a registered capital of 200 million yuan, Shanghai Xiba will contribute 165 million yuan in the form of monetary and non-monetary assets, accounting for 82.5% of the capital, while GRINM Rare Earth will invest 35 million yuan in monetary form, holding 17.5%. The joint venture will focus on the R&D of new material technologies and the manufacturing of electronic specialty materials.