"Longbai Group: Intends to Invest in Industrial Fund with Focus on Vanadium, Titanium, Lithium Resources and New Materials Industry and its Upstream and Downstream

The company and its wholly-owned subsidiaries, Longbai Sichuan Titanium Industry Co., Ltd. and Longbai Sichuan Metallurgy Co., Ltd., along with Henan Yunkui Enterprise Management Consulting Co., Ltd. and Jiaozuo Tongcai Entrepreneurship Investment Co., Ltd. have jointly established a wholly-owned subsidiary, Henan Zhuoyi Industrial Investment Co., Ltd. (final name subject to business registration), to collectively invest in establishing Henan Caiyuan Yifeng Industrial Investment Partnership Enterprise (limited partnership). The investment scope of the partnership enterprise includes companies or projects located in China, with a focus on the vanadium, titanium, lithium resources and new materials industry and its upstream and downstream. The company is a limited partner with a subscribed capital of 770 million yuan, accounting for 22% of the total investment; Longbai Sichuan is a limited partner with a subscribed capital of 525 million yuan, accounting for 15% of the total investment; Longbai Metallurgy is a limited partner with a subscribed capital of 420 million yuan, accounting for 12% of the total investment."