On the afternoon of May 29th, Zhejiang Province held a "Sweet Potato Economy" upgrading the "No. 1 Opening Project" conference aimed at enhancing capabilities and promoting development. During the conference, the list of groups that made outstanding achievements in opening-up were announced, including the top ten counties (cities, districts) in foreign trade, the top ten counties (cities, districts) attracting large-scale investments, the top ten open platforms, the top ten foreign trade enterprises (including cross-border e-commerce), and the top ten international investment enterprises. Huayou Cobalt was honored as one of the top ten international investment enterprises in Zhejiang Province.
▲Prior to the conference, Chen Hongliang, the President of the Group, was interviewed by Zhejiang TV as a representative of the award-winning company.
Openness has been the path for entrepreneurship and innovation at Huayou. In 2002, we stepped out of rural areas, followed by our entry into the Democratic Republic of Congo in Africa in 2003. In 2012, we developed in Quzhou, Zhejiang. Then, we entered Indonesia in 2018, followed by establishing in Yulin, Guangxi in 2020. In 2022, we ventured into Zimbabwe in Africa. As a privately-owned enterprise in a province renowned for its outward-oriented economy, Huayou Cobalt actively engages in global market cooperation and competition.
Rooted in China, making friends all over the world. Huayou has embarked on a remarkable journey of openness. From joint ventures to collaborative industrial parks, and from establishing in Africa to actively participating in the Belt and Road Initiative, Huayou's commitment to openness has shaped its ambitious vision and fueled its significant growth. In recent years, while guaranteeing cobalt and copper resources in the Democratic Republic of Congo, developing lithium mines in Zimbabwe, and promoting the nickel industry in Indonesia, Huayou has steadfastly adhered to the development principles of cooperation, mutual construction, and shared future. This commitment has resulted in the successful implementation of cooperative frameworks and memorandum of cooperation with esteemed partners such as Vale, Ford, SPIC, and PLN. Concurrently, the company has made consistent progress in its overseas resource projects, enhancing its capabilities in resource control and security to unprecedented levels. This has further strengthened Huayou's integrated mining and metallurgical business model and bolstered its capacity to effectively manage strategic resources and extract their full value.
Adhering to the principles of value creation and benefit sharing, the company consistently strengthens and deepens its partnerships with customers, suppliers, and other stakeholders. It fosters innovation in collaboration mechanisms and integrates global resources to establish a new paradigm of high-quality development through a commitment to openness. In January of this year, the company signed a long-term supply agreement for ternary precursors with POSCO Chemical and THUNIP, further solidifying its position in the field of new energy lithium-ion materials. Additionally, in April, the company signed an investment memorandum of understanding with LG Chem and other companies, planning to establish a battery material production plant in South Korea. By strategically positioning itself with comprehensive upstream resource development and strong alignment with the downstream industrial chain, the company has successfully cultivated industry-leading competitive advantages. As the forces of the industrial chain continue to collide, integrate, and amplify, the company's network of partners expands, attracting high-quality resource elements. Through interconnection and enhancing strengths, the company has become deeply entrenched in the global new energy vehicle industry chain, fortifying its position with greater strength.
"No matter where we invest, we are committed to making contributions to the local economy and society." In the Democratic Republic of Congo, Huayou is dedicated to environmental protection, funding education, community development, improving local healthcare conditions, and participating in local infrastructure construction. It has created nearly 2,000 job opportunities, fostering the harmonious development of the local socio-economic landscape. The company's efforts have earned praise from the Congolese government, establishing a positive image for Chinese enterprises. On August 24th, 2022, the inaugural Zimbabwe Annual Investor Forum was held at the Harare International Conference Center. During the forum, Huayou Cobalt was honored with the "Best Investment Deal Award," further advancing the mutual development of the company and the society and economy of the investment destination.
In Indonesia, Huayue Nickel Cobalt (Indonesia) Co., Ltd. is dedicated to upholding social responsibility and making a positive impact. The company has created employment opportunities for over 10,000 Indonesian citizens, prioritizing occupational health and actively organizing safety and environmental education and training programs. Recognizing the significance of environmental conservation, the company has implemented various environmental regulations, payed a great attention to the protection of the local ecosystem and taken measures, such as plant transplantation, animal conservation, and slope restoration. Moreover, Huayou Nickel Cobalt (Indonesia) Ltd. has adopted a localized talent strategy by partnering with local and domestic higher education institutions to foster the development of local talent. Additionally, the company has generously donated to post-disaster reconstruction in earthquake-affected areas of Indonesia. Furthermore, the company is committed to building a responsible management system for its nickel supply chain, enforcing strict standards for partners in aspects such as human rights, labor rights, ethics, environmental sustainability, and responsible mining practices.
Huayou is expanding its presence in the new energy lithium-ion industry in Indonesia, spreading its reach in all directions like vines, absorbing more sunlight, rain, and nutrients to nurture the growth of its core operations. Looking ahead, Huayou is committed to upholding the standards of a world-class enterprise, with a strong focus on product excellence, notable branding, pioneering innovation, and modern governance practices. The company will accelerate its international expansion pace, strengthen development of key resources, and strive for high-quality growth in its pursuit of becoming a global leader. By establishing itself as a world-class enterprise, Huayou aims to drive its continuous advancement and progress towards excellence.