Core Viewpoint - The company has signed a framework agreement for vanadium energy storage raw materials with Dalian Rongke Energy Group, indicating a strategic partnership aimed at enhancing its position in the energy storage market [1] Group 1: Agreement Details - The agreement is between the company's wholly-owned subsidiary, Panzhihua Steel Group Chengdu Vanadium Titanium Resources Development Co., Ltd., and Dalian Rongke Energy Group [1] - The duration of the agreement is from January 1, 2026, to December 31, 2026 [1] - The expected total quantity of ammonium vanadate raw materials for 2026 is 20,000 tons, equivalent to vanadium pentoxide [1] Group 2: Execution Uncertainty - The quantity mentioned in the agreement does not include raw materials required for the joint venture established by the company and Dalian Rongke, as well as other significant energy storage projects [1] - The final transaction quantity will be subject to actual settlement, indicating potential uncertainties in the execution of the agreement [1]