The foundation stone laying ceremony of Te Li magnesium in Salt Lake, Anhui Province was held in Maanshan, Anhui Province.

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Qinghai Salt Lake Industry Co., Ltd. ("Salt Lake Co., Ltd. (000792)") released the news that on December 12, the groundbreaking ceremony of Anhui Salt Lake Teli magnesium New material Co., Ltd. ("Anhui Salt Lake Maanshan Maanshan Economic Development Zone") was held in Hanshan Economic Development Zone, Maanshan City, Anhui Province. Anhui Salt Lake Deli magnesium is invested and set up by Qinghai Salt Lake Maverick magnesium Co., Ltd., a wholly-owned subsidiary of Salt Lake Co., Ltd., to build a new magnesium-aluminum alloy material development and application project with an annual output of 5000 tons in Hanshan Economic Development Zone.

At the end of October, Salt Lake announced that Qinghai Salt Lake Maverick magnesium Co., Ltd., a wholly owned subsidiary of Qinghai Salt Lake Industrial Co., Ltd., in order to solve the development dilemma, integrate into the industrial core area to resolve the regional disadvantages far away from the customer market, and realize turning losses into profits as soon as possible. It is proposed to build factories in different places to layout the magnesium industry chain, coordinate to drive the existing production facilities in Qinghai, improve the whole industry chain of magnesium alloy production, reduce production costs, and realize a virtuous circle. To improve the efficiency of the enterprise, the company plans to invest in the development and application of 5000T magnesium and aluminum alloy new materials in Hanshan County, Maanshan City, Anhui Province.

Salt Lake Co., Ltd. previously said that by making use of the abundant metal magnesium resources in Salt Lake, advanced die-casting equipment and the advantages of maverick magnesium's rich production practice and management experience, the project can consume the stock of upstream metal magnesium raw materials, expand the industrial chain, and improve the added value of products, which is of great significance to the construction of economic growth. This project is in line with the overall strategy of the national "Belt and Road Initiative" and the company's 14th five-year Plan, and meets the requirements of the national environmental protection policy. This project is chosen to be built in Hanshan Economic Development Zone of Anhui Province. Hanshan Economic Development Zone is located in the central and eastern part of Anhui Province, affected by the triple radiation of the Yangtze River Economic Belt, Hefei Metropolitan area and Nanjing Metropolitan area, and located in the middle of Nanjing, Hefei, Maanshan, Wuhu, Tongling and Chuzhou. It has the location advantage of "one county and six cities", and is the bridgehead to undertake the industrial transfer in the Yangtze River Delta. Hanshan County enjoys the reputation of "hometown of Foundry". The region has approved the surplus of casting capacity, has a sound supporting basis of industrial chain and many preferential policies for project construction, and has obvious advantages in policy, environmental protection, location, industry, transportation, progress and investment cost. The external construction conditions are good, and there are no external adverse factors and environmental conditions. After the completion of the project, the local market resource advantage will be transformed into economic advantage, which can enhance the company's economic strength and promote the development of regional industry. The implementation of the project not only promotes local economic development, but also provides jobs for the society. The project has advanced production technology, good economic and social benefits, good investment effect, broad product market and strong development potential. It has obvious economic benefits and certain anti-risk ability. Therefore, the construction of this project is feasible as a whole.