Core Viewpoint - The cobalt export quota management system in the Democratic Republic of Congo (DRC) has a limited impact on the stability of raw material and product supply for Huayou Cobalt, with long-term contracts being fulfilled as scheduled [1] Group 1: Supply Sources and Production Capacity - Huayou Cobalt's cobalt supply sources include not only the DRC but also cobalt by-products from its nickel hydrometallurgy projects in Indonesia [1] - The nickel and cobalt recovery ratio during the high-pressure acid leaching (HPAL) process for laterite nickel ore is typically around 10:1 [1] - Huayou Cobalt's two nickel-cobalt hydrometallurgy projects in Indonesia, Huayue and Huafei, have a combined annual production capacity of 180,000 tons and have achieved stable and excess production [1] Group 2: Future Production Plans - Currently, Huayou Cobalt has a cobalt smelting capacity of approximately 40,000 tons per year [1] - The KNI hydrometallurgy project, expected to be operational by 2026 with an annual production capacity of 120,000 tons of metal nickel, will provide additional cobalt production capacity, potentially increasing self-supplied cobalt annual capacity to over 30,000 tons [1]