Announcement on the Progress of the "Double Improvement of Quality and Return" Action Plan
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
Greenland Resources Co., Ltd. (hereinafter referred to as the "Company" or "GEM"), based on its full recognition of the Company's global competitiveness, future profitability, and the long-term value of its stock, in order to effectively protect the interests of the Company and all shareholders, actively practices the development concept of a listed company "putting investors first," and enhances the Company's corporate governance quality and investment value. To boost investor confidence, on March 9, 2024, the Company issued the "Announcement on the Progress of the 'Double Improvement of Quality and Return' Action Plan" (Announcement No.: 2024-011). The progress of the action plan is hereby announced as follows:
I. Consolidating the Core Business and Enhancing Global Industry Core Position
Based on the industrial concept of "limited resources, infinite recycling," the Company focuses on the extraction and recycling of key global metals, the recycling of power batteries, and the manufacturing of new energy battery materials. In the field of key metal extraction and recycling, the Company has built a circular production chain of "waste metal resource recycling—native high-purity raw materials and materials—remanufactured terminal products," achieving high-quality circular recycling of over 20 kinds of key metal resources such as nickel, cobalt, tungsten, copper, manganese, scandium, germanium, gold, silver, and platinum. It has built the world's largest industrial base for the recycling of key metal resources such as nickel, cobalt, and tungsten. In the field of power battery recycling, the Company first proposed the concept of building a new energy full life cycle value chain in 2016, creating a new energy full life cycle value chain of "battery recycling—residual energy cascade utilization and remanufacturing—raw material recycling and material remanufacturing—battery reassembly." The Company has established cooperative relationships with over 1,100 automotive companies and battery manufacturers, and has formed a targeted circular cooperation relationship for nickel and cobalt with BYD, CATL, EVE, and Toyota. The cascade utilization of residual energy in power battery packs has been commercialized by companies such as GAC and Zoomlion, effectively promoting the implementation of the global battery passport. The Company has developed recycling and utilization of various nickel and cobalt resources and low-grade laterite nickel and cobalt ores, realizing the transformation of "putting low-grade laterite nickel ore in and refining battery materials out." It has built a new energy full industry chain for nickel and cobalt resources, from "nickel and cobalt waste and resources—nickel and cobalt sulfate crystals—electrodeposited nickel and cobalt metal—precursor materials—ternary cathode materials." The ternary cathode materials for power batteries produced by the Company's circular production are the main suppliers of precursor materials, ternary cathode materials, and cobalt tetroxide materials for 3C digital batteries, and are the main suppliers to leading Chinese new energy companies such as CATL and BYD. At the same time, the Company has entered the supply chains of leading international new energy lithium battery companies such as SAMSUNG SDI, SK On, LGC, and ECOPRO, becoming a mainstream supplier in the global power new energy and 3C new energy industry chains.