Longking has officially declared its intention to collaborate with Huizhou EVE Energy Co., Ltd. in setting up a joint venture enterprise in Shanghang County, Longyan City, Fujian Province. The primary objective of this venture is to construct a substantial 60GWh energy storage battery plant. The envisioned project entails a total investment of 6 billion yuan, with the joint venture company boasting a registered capital of 900 million yuan. Specifically, Longking will assume a 20% stake, contributing 180 million yuan in cash, with its cumulative contributions not surpassing 240 million yuan; EVE Energy, on the other hand, will hold an 80% stake. This strategic partnership has garnered approval from the 24th session of the 10th Board of Directors of Longking and obviates the need for submission to the shareholders' meeting for further endorsement. This collaboration is poised to facilitate Longking's foray into the realm of large-capacity energy storage cell R&D and manufacturing, enhance its strategic positioning within the new energy industry chain, and foster the emergence of novel profit growth avenues.