Core Viewpoint - The company has signed a strategic cooperation framework agreement with Greenmei Co., Ltd. to enhance collaboration in key metal resource recycling, raw material supply, technology research and development, and market expansion, aiming to meet the global demand for high-energy battery materials and improve operational efficiency [12][15][28]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 13.059 billion yuan, a year-on-year increase of 29.80% [8]. - The total profit reached 612 million yuan, up 48.93% year-on-year, while the net profit attributable to the parent company was 552 million yuan, reflecting a growth of 41.54% [8]. - The company sold 99,900 tons of lithium battery cathode materials, marking a 40.41% increase year-on-year [8]. Strategic Cooperation Agreement - The agreement includes a commitment from Greenmei to supply various battery raw materials totaling 150,000 tons annually from 2026 to 2028, including cobalt chloride, nickel sulfate, and lithium carbonate [12][13][22]. - The collaboration aims to establish a long-term partnership in the supply chain for lithium battery materials, enhancing supply chain stability and cost advantages [22][23]. - The agreement is expected to have a minimal impact on the company's 2025 performance, as its effects will be realized primarily from 2026 onwards [14][28]. Organizational Changes - The company has restructured its organizational framework to improve governance and operational efficiency, establishing new departments such as the Innovation Management Department and Supply Chain Management Department [42].