Tongyi Carbon Neutral Technology (600506.SH) Subsidiary Signs Strategic Cooperation Agreement on Coolant with Contemporary Amperex Technology

Tongyi Carbon Neutral Technology (600506.SH) announced that recently, its controlled subsidiary Tongyi Petrochemical Co., Ltd. ("Tongyi Petrochemical") signed a "Coolant Strategic Cooperation Agreement" with Contemporary Amperex Technology Co., Limited ("Contemporary Amperex Technology"). Main contents of the agreement: (1) Create a full life-cycle cooperation model for coolant. The products provided by Tongyi Petrochemical to Contemporary Amperex Technology shall meet national standards and the requirements of Contemporary Amperex Technology, and Tongyi Petrochemical may participate with priority in the development of new projects of Contemporary Amperex Technology and actively respond to its requirements regarding new product development, quality improvement, and rapid delivery. (2) Jointly explore coolant reliability requirements. Contemporary Amperex Technology and Tongyi Petrochemical will jointly study the reliability of coolant, including impact factor research, model construction, and model validation; Tongyi Petrochemical will conduct research on low-conductivity coolant life testing technology and evaluation methods, and provide relevant reports and technical consulting services. (3) Tongyi Petrochemical and Ningjia Service will jointly explore business cooperation in the new energy vehicle aftermarket. Both parties intend to jointly explore the automotive aftermarket business of Ningjia Service. (4) Explore joint quality building. Through the strategic cooperation between both parties, due to customer demand, Contemporary Amperex Technology will give priority to low-conductivity coolant products developed by Tongyi Petrochemical (recognized by both parties), and Tongyi Petrochemical's products shall meet the technical specification requirements agreed upon by both parties and the provisions of laws and regulations.