On November 16, Ronbay Materials issued a public notice revealing that it had entered into a significant cooperation agreement with CATL. Under this pact, Ronbay Materials is designated as CATL's primary supplier of sodium-ion cathode powder. The agreement explicitly states that CATL is committed to procuring no less than 60% of its total annual cathode powder needs from Ronbay Materials. Should CATL's annual purchase volume hit or exceed 500,000 metric tons, Ronbay Materials has pledged to provide even more competitive pricing through cost reductions. While this agreement is expected to positively influence Ronbay Materials' future financial performance, it's important to note that there are inherent risks of the agreement not being fully or partially fulfilled as per the agreed schedule. The primary objective of this collaboration is to harness the professional expertise and resource strengths of both entities within the industrial landscape, with the shared vision of co-creating a safer and more environmentally friendly ecosystem for the new energy battery sector. The two parties will collaborate closely in areas such as strategic alignment, product supply chains, and the development of innovative new products.