2021 was a year of both challenges and opportunities. The lithium industry saw significant transformations this year. We, as always, seized the opportunities for development and stayed true to our vision "to created unlimited value by utilizing limited resources". We advanced our management level, global presence, technological innovation, and sustainability, and made remarkable achievements in every aspect.

In the past year, we surmounted the negative effects of COVID-19, as well as the rising prices of coal, sulfuric acid, caustic soda, and soda ash, to make steady progress on project construction. Our products had considerable quality improvements, our production capacity reached record highs, and our performance achieved a remarkable increase. They were the results of the industry's boom and our management team's dedication to their duties. We implemented quality management in accordance with the IATF 16949 specification, made improvements in the production economy, and eliminated leakage and venting in the plant. All of these efforts resulted in our finest performance in history.

Our 10,000-tonne lithium salt plant has been improving and upgrading for the past year. The plant's lithium salt output was doubled, and all production targets were met thanks to the earnest organization and reasonable arrangement. Moreover, the plant actively responded to the Company's call and vigorously promoted digital, IT, and intelligent transitions. It completed the initiative for intelligent three-dimensional warehouses and a security information platform in 2021, and the facility began more automated and intelligent production. Through its research efforts and diverse product and process development, our specialized lithium plant has achieved technological breakthroughs in both production and research and development. Through technical upgrades, our Ningdu plant filled in the gaps in every section of the lithium carbonate workshop and boosted its capacity to meet the rising market demand. Ganfeng Recycling drew momentum from the external environment, partnered with industry leaders, and established a stable pathway of recycling, processing, and profiting. Our metal lithium plant put efforts into product development that led to the trial production of ultra-thin and ultra-wide lithium bands, as well as lithium powder, lithium amide, and lithium-boron alloy. It collaborated with Shanghai Jiaotong University to develop an aluminium lithium alloy in order to prepare for the further development of the Company. The output and sales of butyl lithium at our organolithium plant set new highs, boosting Ganfeng Lithium's organolithium business. As a result of the market expansion, the battery segment saw a significant increase in core customers. With high spirits and confidence, the management team were getting into shape. They led to technological breakthroughs and advancements in many key projects.

We are full of enthusiasm for the approaching year and are committed to greater progress and accomplishments. In the coming year, we hope Ganfeng Lithium will continue to improve and flourish, becoming a leader and titan in the lithium industry. We believe that our lithium battery sector will grow in size, strength, and competitiveness, bringing more advanced clients to our second-generation solid-state batteries and allowing us to lead the industry trend and take the first chance. We expect our overseas business unit to find more highquality lithium resources and make smooth progress on development projects. We also hope that additional in-need talents will join us to build the most advanced research institute and the largest and most advanced lithium salt enterprise. We are optimistic about the future!

A new year means a new style, a new pattern, and a new way of thinking about development. We must remain modest, realistic, and practical in our efforts to establish a new benchmark in the lithium industry. We must insist on innovation and transformation in development, strive to create a lithium ecosystem in the international sector, and promote the global shift to a green, low-carbon, and circular economy.

Chairman Li Liangbin