Jiangsu Huahong Technology (002645.SZ) signed a cooperation framework agreement for purchasing oxides with China Rare Earth Resources And Technology.

Jiangsu Huahong Technology (002645.SZ) announced that its wholly-owned subsidiary, Xintai Technology, has signed "Oxide Purchase Cooperation Framework Agreements" with China Rare Earth Resources And Technology International Trading Co., Ltd. ("China Rare Earth Resources And Technology International Trading"), Ningbo Funeng Rare Earth New Materials Co., Ltd. ("Ningbo Funeng"), and Ganzhou Chenguang Rare Earth New Materials Co., Ltd. ("Chenguang Rare Earth"). These agreements are aimed at locking in the supply of rare earth oxides for Xintai Technology for the next 12 months (February 2025 to January 2026). The announcement stated that Xintai Technology and its subsidiaries are mainly engaged in the comprehensive utilization of rare earth resources. By recycling rare earth recovery materials and producing high-purity regenerated rare earth oxides, they can produce 12,000 tons of rare earth oxides annually. The signing of the "Oxide Purchase Cooperation Framework Agreements" with China Rare Earth Resources And Technology International Trading, Ningbo Funeng, and Chenguang Rare Earth is to ensure a continuous supply of rare earth oxide products for Xintai Technology in the next year, safeguarding the stability and sustainability of Xintai Technology's future operations. It also further highlights Xintai Technology's industry position and comprehensive strength in the field of rare earth resource utilization, bringing positive impacts to the company's future development.