On February 21, Tsingshan Industry and SAIC Motor Corporation held a ceremony for strategic cooperation and the signing of the Ripu Energy project. Wang Xiaoqiu, President of SAIC Motor Corporation, and Xiang Guangda, the Chairman of the Board of Tsingshan Industrial attended the ceremony and delivered important speeches. Hu Xiaodong, Chairman of YCST, and Pan Jiming, General Manager of SAIC Planning Department, signed the cooperation agreement on behalf of both parties.

Chairman Xiang Guangda thanked President Wang Xiaoqiu and SAIC Motor Corporation for their support and trust over the years. He stated that the cooperation between the two parties in the Ripu Energy project is the first time that Qingdao Aoshan Industrial has introduced foreign investment. Qingdao Aoshan will leverage its advantages in upstream resource security such as nickel, cobalt, and manganese, overseas investment experience, and entrepreneurial spirit of hard work to focus on every link, constantly improve its comprehensive competitiveness, and bring a better experience and greater value to the cooperation between the two parties.

Previously, in November 2021, the two parties signed a strategic cooperation agreement, and in January 2022, they signed an investment agreement for the Ripu project. The two sides have continuously deepened their strategic cooperation, with SAIC Motor Corporation leading the industry round financing of Ripu Energy and becoming the largest external strategic investor. The two parties will further give full play to their respective industrial advantages in the field of new energy vehicles, use capital as a link, cooperate in the development of upstream resources projects such as nickel, cobalt, lithium, manganese, and promote the development of new energy battery technology and application markets, jointly promoting the high-quality development of China’s new energy industry.

Vice President and CFO Wei Yong, General Manager of the Financial Business Department Wu Heng, General Manager of the Public Relations Department Guan Yizhong, Deputy General Manager of the Planning Department Zhang Jianjun of SAIC Motor Corporation, Feng Ji, Executive Affairs Partner of Shangqi Capital, Wang Haijun, President of Dingxin Group, Wu Yanjun, Executive Director and Company Secretary of Ripu Energy, and others attended the ceremony and witnessed the signing.