MECOM International New Materials Technology (Guangdong) Co., Ltd. entered into a strategic cooperation agreement (the "Strategic Cooperation Agreement") with Guangdong Zhongnan Iron & Steel Co., Ltd. on 21 September 2023. As a large state-owned enterprise with an annual output of over 8 million tons of steel, Zhongnan Iron & Steel is an important steel production enterprise based in Guangdong province, the PRC and also a national high and new technology enterprise. Its steel products cover special steel long material, variety wire rods, bars, plates, etc., and are widely applied in various industries including automobile, petrochemical, machinery manufacturing, energy transportation, aerospace and nuclear
power. Zhongnan Iron & Steel is currently increasing efforts for research and development on new materials and will introduce more advanced production lines with improved output. Zhongnan ron & Steel highly recognized MECOM New Materials' efforts in helping promote its products to countries and regions including Hong Kong, Macau, Singapore, Australia and the Philippines, which contributed to its brand awareness. Zhongnan Iron & Steel will continue to increase its support to MECOM New Materials ' orders for projects in Hong Kong, Macau and overseas countries, and at the same time maximize its role as a large state-owned enterprise and join hands with MECOM New Materials to explore the green construction markets in countries of the Belt and Road Initiative.