Fengyuan shares announced that its wholly-owned subsidiary Fengyuan Lithium Energy signed a "Lithium Iron Phosphate Cooperation Framework Agreement" with Huizhou BYD Battery Co., Ltd. The two parties will cooperate on the procurement and joint development of lithium iron phosphate positive electrode material products from 2025 to 2028. According to the agreement, Fengyuan Lithium Energy will supply lithium iron phosphate positive electrode material products to BYD Battery in the next three years and ensure the stable implementation of supply. At the same time, the two parties will jointly commit to the research and development and cost optimization of positive electrode materials to promote technological innovation and industrial upgrading. This cooperation is conducive to the establishment of a closer, long-term and stable cooperative relationship between the two parties, realizing resource sharing and complementary advantages, and will have a positive impact on the company's operating performance of lithium battery positive electrode materials this year and in the future.