Tianqi Co., Ltd. announced that its wholly-owned subsidiary Jiangxi Tianqi Jintaige Cobalt Co., Ltd. and Shenzhen Xinwangda Recycling Materials Co., Ltd. recently signed a "Joint Venture Contract" to jointly invest in the establishment of a joint venture company Xinqi Recycling Technology Co., Ltd. with a registered capital of 80 million yuan. Tianqi Jintaige invested 36 million yuan of its own funds and held 45% of the shares; Xinwangda Recycling invested 44 million yuan and held 55% of the shares. The joint venture will carry out battery material recycling business, and its registered address is located in Longnan City, Ganzhou City, Jiangxi Province.