On the evening of March 12, Yahwa Group announced that it had signed a Lithium Pyroxene Concentrate Offtake Agreement with Pilgangoora Operations Pty Ltd, a wholly-owned subsidiary of Australian lithium producer Pilbara Minerals Ltd, and that the company would purchase lithium pyroxene concentrate from Pilgangoora during the period of 2024-2026, and that the company would purchase lithium pyroxene concentrate from Pilgangoora in the period of 2024-2026, and that the company would purchase lithium pyroxene concentrate from Pilgangoora in the period of 2024-2026. concentrate from Pilgangoora from 2024 to 2026. The term of the agreement is from January 1, 2024 to December 31, 2026 as agreed by the parties. The supply period may be extended up to two times, each time for a period of two years from the then current end date of supply, with the written consent of both parties.

Pursuant to this agreement, Pilgangoora will supply 20,000 tons - 80,000 tons of lithium pyroxene concentrates to the Company in 2024 and 100,000 tons - 160,000 tons of lithium pyroxene concentrates to the Company in each of the years from 2025 to 2026. According to Yaohua Group, the signing of this off-take agreement provides another lithium resource guarantee channel for the release of the Company's existing lithium salt production capacity and the expansion of its future production capacity, and ensures the stable supply of lithium concentrates for 3 to 7 years.