Currently, fewer than 50 private enterprises nationwide are active in the medium-term note (MTN) issuance market under the National Association of Financial Market Institutional Investors (NAFMII). Huayou Cobalt's impressive debut in this field represents a crucial step for the company's capital operations and green transformation. Since 2022, the company has issued a total of RMB 10.7 billion in ultra-short-term commercial papers (UCTPs), ranking 8th among private enterprises in terms of issuance scale in 2025. Its issuance interest rates have repeatedly hit new lows, and more importantly, it has accumulated a stable base of investors through UCTP issuances. This MTN issuance attracted extensive attention from various domestic institutional investors, including commercial banks, foreign-funded banks, public funds, and wealth management companies, with enthusiastic subscription. The subscription multiple of 1.6x and the issuance interest rate lower than the People's Bank of China's benchmark Loan Prime Rate (LPR) for the same period signify a further increase in Huayou's recognition in the bond market. It set a new high in the subscription multiple of MTNs among private enterprises in Jiaxing City and is also the first dual-labeled "green + technological innovation" private enterprise innovative bond in Zhejiang Province this year, realizing a leap forward in the company's direct bond financing from short-term to medium and long-term. Meanwhile, all funds raised through this MTN will be used in green, low-carbon and circular recycling fields, demonstrating Huayou's social responsibility in green transformation and upgrading and representing another manifestation of practicing "Green Huayou" in the field of financing.

Industry is the foundation of economic development, and finance is the wing for industrial take-off. On the key track of global energy transition and industrial upgrading, the integration of industry and finance is not only a strategic choice but also a core engine driving high-quality development. Huayou Cobalt has always adhered firmly to this direction, consolidating its industrial foundation through steady operations, expanding development space via diversified financing, breaking resource barriers and activating innovation momentum in deepening its global industrial chain layout. In the future, the company will continue to drive financial service innovation with industrial needs, nourish the prosperity of the industrial ecosystem with financial resources, deepen its efforts in the new energy lithium battery field, and inject stronger momentum into the global energy revolution!