Ningde Times subsidiary plans to invest in the construction of power battery industry chain projects in Indonesia

With the advancement of global energy reform, transformation and upgrading, and the continuous increase in carbon emission requirements, the new energy industry has developed rapidly in recent years, and the resources required for global power battery production have increased accordingly. In order to ensure the supply of upstream key resources and raw materials, the company plans to have its holding subsidiary Prokin Times and its partners PT Aneka Tambang Tbk., (hereinafter referred to as "ANTAM"), PT Industri Baterai Indonesia (hereinafter referred to as "IBI") in northern Indonesia. The FHT Industrial Park in East Halmahera County, Maluku Province and other related industrial parks in Indonesia jointly invest in the construction of the power battery industry chain project. The total investment amount that has been confirmed for the project so far does not exceed US$5.968 billion or equivalent currency.