Announced that it has signed a Memorandum of Understanding with one US(NYSE)listed company regarding authorized production licensing of LFP battery materials

 Announced that it has signed a Memorandum of
Understanding with one US(NYSE)listed company regarding
authorized production licensing of LFP battery materials

1.Date of occurrence of the event:2022/05/17
2.Company name:Advanced Lithium Electrochemistry (Cayman) Co., Ltd.
3.Relationship to the Company (please enter "head office" or
  "subsidiaries"):head office
4.Reciprocal shareholding ratios:N.A.
5.Cause of occurrence:
Announced a Material Corporate Event that the company has signed a
Memorandum of Understanding ("MOU") with a subsidiary of one US (New
York Stock Exchange) listed company ("Counterparty") regarding technology
licensing on May 17, 2022. The company will grant licensed technology on LFP
and lithium manganese iron phosphate (LMFP) to Counterparty and provide it
with technical information and technical support services to facilitate its
development of precursor and cathode material production plant in the United
States. The collaboration will help establishing a localized, integrated
supply chain of LFP lithium-ion battery materials for U.S. end customers,
strengthening the competitiveness of the local LFP battery supply chain in
the U.S., and reducing the huge commercial risk for U.S. companies that
overly dependent on foreign supply of LFP materials at present. The company
said that the details of the intended collaboration should not be disclosed
for the time being.The two parties agreed to release relevant information
on July 1, 2022.
6.Countermeasures:None.
7.Any other matters that need to be specified:None.