Longpan Technology: Acquires Australian lithium mine exploration lease and related assets for 14.85 million Australian dollars.

Longpan Technology announced that the company has acquired the Australian lithium mine exploration lease and related assets held by GL1 and MB Lithium through its wholly-owned overseas subsidiary Longpan Perth for 14.85 million Australian dollars. The subsequent lithium mine project is expected to require an investment of over 200 million US dollars, with a construction and production cycle of 2 to 3 years. This transaction does not constitute a related party transaction or a major asset restructuring, and does not require board or shareholder approval. However, there are risks in the subsequent progress, including obtaining mining leases, project construction, unexpected mining results, overseas transactions, and capital investment.