On July 17, 2020, the signing ceremony of South Korea's ENCHEM Co., Ltd.'s shareholding in Huzhou Kunlun Power Battery Materials Co., Ltd. was held. In view of the new crown pneumonia epidemic, the two countries were simultaneously conducted in the form of online video. Leaders such as Secretary Lin Min and Chairman Zhang Guosheng of Heping Town Government, Changxing County, Huzhou City visited Kunlun, Huzhou, to participate in the signing ceremony on that day.

　　At 9:00 a.m. (10:00 a.m. Korean time), the ceremony officially started. At the meeting, Guo Yingjun, chairman of Kunlun Company, said: Huzhou Kunlun Power Battery Materials Co., Ltd. was established in May 2017. It was invested and constructed by Xianghe Kunlun Chemical Products Co., Ltd., specializing in the research and development, production, sales and service, the planned annual output is 60,000 tons. Since its establishment 3 years ago, the company has won the "Great High" project in Huzhou City; won the local "intelligent manufacturing", "integration of industrialization and industrialization", "South Taihu Elite Program Innovation Long-term Leading Talents" and other project awards, won the high-tech enterprise, the city's high-end enterprise research and development Center name. The honors obtained are inseparable from the encouragement of government leaders, the trust of investors, and the strong support of the industry.

　　In the face of the broad prospects of the new energy industry, there are both challenges and opportunities in the field of developing and researching electrolytes that meet market demand. By chance, we met Mr. Wu Zhengyi, Chairman and Founder of South Korea's ENCHEM Co., Ltd. We have the same experience, and we are also fortunate to be participants and witnesses of the global lithium battery business from its infancy, growth, and growth stages. I would also like to thank the negotiators of both sides for their efforts in the friendly negotiation that was finally reached. In the end, in line with the goal of enhancing the core competitiveness of the company and creating new industrial growth points, we will integrate our respective advantages, cooperate in R&D and production of new electrolyte products, and plan to build a second-phase production line in a joint venture. By then, we will achieve the largest monomer in China. Lithium electrolyte production base. It will provide more world-renowned lithium battery companies with better products and services. This is a very important milestone and a new starting point. We are confident that we will jointly build the new company into a world-class electrolyte manufacturing and R&D enterprise. Strong alliances, win-win cooperation, and create a new glory for the global lithium battery business.

Wu Zhengyu, chairman of South Korea's ENCHEM Co., Ltd., said at the ceremony: Affected by the epidemic, the contract could only be signed face-to-face through video, and he expressed his deep regret. In the dual difficulties of the global economic crisis and climate change caused by the "new crown pneumonia", the whole world is trying its best to find new breakthroughs.

ENCHEM was established in 2012. At the beginning of its establishment, it has gradually become a supplier of South Korea's LGC, SKI, Nesscap, Kokam, EIG and other companies. At present, it has deployed electrolyte production bases in Europe, Poland and the United States. In recent years, it has successively developed cooperation with China Lishen, ATL and other companies and obtained the qualification of suppliers. In order to better develop business in the Chinese market, ENCHEM is looking for suitable cooperation opportunities. After friendly negotiation between the two parties, finally Determined to cooperate with Kunlun. This cooperation has important and far-reaching significance for the future development of ENCHEM. Chairman Wu believes that electric vehicles are an excellent solution to the global economic crisis and the dilemma of climate change, and the electric vehicle industry is developing rapidly around the world with China as the center.

Based on the above reasons, after friendly negotiation, I would like to join hands with Chairman Guo to strengthen the technical cooperation between China Huzhou Kunlun and South Korea's ENCHEM, and build the joint venture company into the best and most advanced company in China based on advanced and reasonable management and production competitiveness. A competitive lithium-ion battery electrolyte production company.

Later, in a friendly and warm atmosphere, witnessed by the government and senior leaders of China and South Korea, the two sides successfully signed a letter of intent.

　　Now standing at the node of the new era, the two sides will further deepen cooperation, join forces, share resources, and jointly build a new ecology of the new energy industry. While helping the high-quality development of the new energy industry, it will also accelerate the arrival of a new era.