Group 1: Defu Technology - Defu Technology has acquired Luxembourg Copper Foil, positioning itself among the global leaders in high-end IT copper foil production. Luxembourg Copper Foil, established in 1960, is the only non-Japanese high-end IT copper foil manufacturer globally, with an annual production capacity of 16,800 tons. Its core products include HVLP and DTH [1] - The projected revenue for Luxembourg Copper Foil in 2024 is €134 million, with a net profit of -€370,000. In Q1 2025, the expected revenue is €45 million, with a net profit of €1.67 million, indicating a quarterly turnaround [1] - Defu Technology's total production capacity for electrolytic copper foil has increased to 191,000 tons per year, making it the global leader. The company plans to accelerate technology resource integration to enhance profitability, with a research and development investment of ¥183 million in 2024 and the addition of 17 new invention patents [1] Group 2: Yahua Group - Yahua Group is a major producer of lithium salt products, particularly battery-grade lithium hydroxide, with industry-leading production technology and equipment. The company’s product quality exceeds national standards, making it a core supplier for leading global automotive and battery manufacturers [2] - The company has established long-term agreements with key clients, including Tesla, LGES, and CATL, with top clients accounting for 90% of revenue. A significant portion of orders comes from international clients [2] - Yahua Group has diversified its lithium ore sourcing through self-controlled mines and external purchases, including the Kamativi lithium mine in Zimbabwe and the Lijiagou lithium mine in Sichuan. The company also has a civil explosives business covering over 20 provinces in China and countries like Australia, New Zealand, and Zimbabwe [2] - In 2024, Yahua Group plans to hedge against price fluctuations in lithium salt products through futures contracts for lithium carbonate, continuing to adjust its hedging strategy based on production plans and market conditions [2]