On the morning of January 11, 2019, thefoundation-laying ceremony of QMB New Energy Materials Co., Ltd jointly investedand operated by GEM Co., Ltd, Tsingshan Industries, BRUNP Recycling, IMIP andHANWA Co., Ltd was held grandly in China-Indonesia Economic and TradeCooperation Zone Tsingshan Park located at Morowali, Central Sulawesi,Indonesia, leaders including Airlangga Hartarto, Minister of the Ministry of Industry, LongkiDjanggola, Governor of Central Sulawesi and County Head Tassili of Morowali ofIndonesian part and Xiang Guangda, Chairman of the Board of TsingshanIndustries, Xu Kaihua, Chairman of the Board of GEM Co., Ltd, Pan Jian, ViceChairman of the Board of CATL, Li Changdong, Chairman of the Board of GuangdongBrunp Recycling Technology Co., Ltd, Huang Weifeng, Chairman of the Board ofIMIP, Zheng Zhongyue, Executive Director and President of IMIP, GuchuanHongcheng, President of HANWA Co., Ltd attended the ceremony.

According to the Joint Venture Agreement onConstruction of Indonesian Lateritic Nickel Ore for Production of Battery-gradeNickel Chemical Product (nickel sulfate crystal) (50,000 tons of nickel/year)in Indonesia signed by the parties on September 28, 2018, USD700 million willbe invested jointly to build a hydrometallurgical base with an output capacity ofnot less than 50,000 tons of nickle metal and 4,000 tons of cobalt metal, withan output of 50,000 tons of nickel hydroxide intermediate, 150,000 tons ofbattery-grade nickel sulfate crystal, 20,000 tons of battery-grade cobaltsulfate and 30,000 tons of battery-grade manganese sulfate crystal.

In this project, battery-grade nickel andcobalt raw materials, which are key raw materials for making ternary powerbattery, will be refined from lateritic nickel ore. Environment friendliness,high technology and smart manufacturing will be reflected perfectly in thewhole manufacturing process, and a global model of producing new energymaterials directly from lateritic nickel ore will be created, thus aninnovative upgrade of Indonesia\'s nickle resources is expecting in new energyresource industry.

Mr. Xu Kaihua showed in his speech that thewarm welcome of Indonesian government and people was very impressive, and it\'sa correct choice in his life to invest in Indonesia. He emphasized that thedesign concept of "Green + Ecology" will be followed for the project,and 360-degree green design and clean production will be implemented, andenvironment friendliness and high technology will be reflected in the wholeprocess of the project perfectly. This is a cooperation of global industrialgiants of new energy materials by the "Belt and Road Initiative". Abrand new energy battery raw material base will rise in Indonesia, and a globallayout for whole industrial chain of new energy materials from lateritic nickelore to ternary power battery has taken its initial shape.

The times produce their heroes. Whenresource, technology and market are combined, a great chemical change willsurely take place.

"Turn lateritic nickel ore intoternary material to produce battery". A whole industrial chain of newnickle resource new energy materials shocking the whole world has been emergingin Indonesia, and "Made in Indonesia" with vitality will have afar-reaching influence on the world\'s new energy industry.

As the pass is impregnable and the journeylong, nickel is the key to green energy resources.

A new energy raw material industrial basehas set sail in Indonesia and will advance to the world!