In June 2023, Huayou Cobalt achieved a significant milestone by successfully applying its high-nickel ternary precursor product to LG Chem's next-generation high-nickel monocrystalline cathode materials for batteries. This achievement marks the first mass production of these high-nickel monocrystalline cathode materials, which offer a remarkable advantage of extending battery life by over 30%. It represents a major breakthrough in Huayou's pursuit of "high-end product development". 

The high-nickel ternary precursor, as a flagship product of Huayou, was developed in collaboration with LG Chem through strategic cooperation. The project was initiated in 2020 and underwent a series of stages, including commissioning at Huayou Quzhou Industrial Park in December 2021, process standardization in June 2022, new product certification in August of the same year, and production line audits at the beginning of 2023. Finally, in June, the product achieved mass production, with a planned annual capacity expected to reach 50,000 tons by 2027. 

Huayou upholds a cooperation philosophy of "collaborative construction, win-win future" and regards the customer as the center. To address industry challenges promptly and meet customer demands, Huayou has successfully overcome technological barriers in high-nickel development. The company has actively promoted process technology, supporting equipment, and production line capabilities, leading to multiple technological innovations and international recognition. The high-nickel product stands out with its high energy density, excellent safety performance, and long cycle life. It is exclusively supplied to the European and American markets. 

The successful application of the high-nickel product is a significant accomplishment in Huayou's "Ten-Year Mission in Five-Year". Huayou remains committed to prioritizing customer needs, creating value for customers, and closely monitoring customers’ terminal requirements. The company will steadfastly adhere to its strategic orientation, advance the development strategies of "two new areas and three trends," foster open collaboration, embrace innovation, and actively pursue a strategic path towards high-end products, integrated industrialization, and international business operations. Huayou aims to foster collaborative success with customers in technology and business endeavors.