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In )Tj 0.026 Tc 0.082 Tw T* [(addition,)1 ( )0.5 (the)1 ( )0.5 (Company)1 ( )0.5 (also)1 ( )0.5 (got)1 ( )0.5 (a)1.1 ( )0.5 (written)1 ( )0.5 (confirmation)1 ( )0.5 (letter)1 ( )0.5 (from)1 ( )0.5 (Ms.)1 ( )0.5 (Tang)1 ( )0.5 (Meiling,)1 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.231 TD [(spouse)12.5 ( of)12.6 ( Mr.)12.5 ( Gong)12.5 ( Yong,)12.5 ( to)12.6 ( confirm)12.5 ( that)12.5 ( she)12.6 ( conducted)12.5 ( the)12.5 ( Transaction)12.5 ( without)24 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 TD [(r)0.5 (e)0.5 (c)0.5 (ei)0.5 (v)0.5 (in)0.5 (g)6 ( )0.5 (a)0.5 (n)0.5 (y)6 ( )0.5 (in)0.5 (s)0.5 (i)0.5 (de)0.5 (r)6 ( )0.5 (i)0.5 (n)0.5 (fo)0.5 (r)0.5 (m)0.5 (at)0.5 (i)0.5 (o)0.5 (n)6 ( )0.5 (a)0.5 (nd)6 ( )0.5 (s)0.5 (e)0.5 (n)0.5 (si)0.5 (t)0.5 (iv)0.5 (e)6 ( )0.5 (i)0.5 (n)0.5 (fo)0.5 (r)0.5 (m)0.5 (a)0.5 (ti)0.5 (o)0.5 (n)6 ( )0.5 (a)0.5 (bo)0.5 (u)0.5 (t)6 ( )0.5 (st)0.5 (o)0.5 (c)0.5 (k)6 ( )0.5 (pr)0.5 (i)0.5 (c)0.5 (e)0.5 (,)6 ( )0.5 (so)6 ( )0.5 (t)0.5 (h)0.5 (e)6 ( )]TJ 0.025 Tc 0 Tw T* (Translation did not involve any insider trading.)Tj 0.032 Tc 0.076 Tw 0 -2.462 TD [(The)7 ( )0.5 (Company)7 ( )0.5 (adopted)7 ( )0.5 (the)7 ( )0.5 (following)7 ( )0.5 (remedial)7 ( )0.5 (steps)7 ( )0.5 (and)7 ( )0.5 (handling)7 ( )0.5 (suggestions)7 ( )0.5 (on)6.9 ( )0.6 (the)7 ( )]TJ 0 -1.231 TD [(Transaction)7 ( )0.5 (according)7 ( )0.5 (to)7 ( )0.5 (opinions)7 ( )0.5 (from)6.9 ( )0.6 (Central)6.9 ( )0.5 (China)7 ( )0.5 (International)7 ( )0.5 (Capital)7 ( )0.5 (Limited,)7 ( )]TJ 0.025 Tc 0 Tw T* (the compliance adviser of the Company:)Tj 0.055 Tc 0.07 Tw 0 -2.462 TD [(\()30 (1)30 (\))30 ( )-564.5 (Upon)12.6 ( the)12.6 ( internal)12.7 ( decision,)12.6 ( the)12.7 ( Company)12.6 ( issued)12.6 ( warning)12.6 ( to)12.6 ( Mr.)12.7 ( Gong)12.6 ( Yong)30 ( )]TJ 0.043 Tc 2.181 -1.231 Td [(and)12.6 ( his)12.6 ( spouse,)12.6 ( Ms.)12.6 ( Tang)12.6 ( Meiling,)12.6 ( required)12.6 ( them)12.6 ( to)12.5 ( standardize)12.7 ( their)12.7 ( practice)18 ( )]TJ 0.045 Tc 0 -1.231 TD [(in)12.9 ( dealing)12.8 ( stock)12.9 ( of)12.9 ( the)12.8 ( Company)12.9 ( in)12.9 ( the)12.8 ( future)12.9 ( in)12.9 ( strict)12.8 ( accordance)12.9 ( with)12.8 ( Rules)20 ( )]TJ 0.069 Tc T* [(G)0.5 (o)0.6 (v)0.5 (e)0.5 (r)0.6 (n)0.5 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (C)0.5 (h)0.6 (a)0.5 (n)0.5 (g)0.6 (e)0.5 (s)13 ( )0.6 (i)0.5 (n)13 ( )0.5 (S)0.6 (h)0.5 (a)0.5 (r)0.6 (e)0.5 (h)0.5 (o)0.6 (l)0.5 (d)0.5 (i)0.5 (n)0.6 (g)0.5 (s)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (D)0.6 (i)0.5 (r)0.5 (e)0.6 (c)0.5 (t)0.6 (o)0.5 (r)0.5 (s)0.5 (,)13.1 ( )0.5 (S)0.5 (u)0.6 (p)0.5 (e)0.5 (r)0.6 (v)0.5 (i)0.5 (s)0.5 (o)0.6 (r)0.5 (s)13 ( )0.6 (a)0.5 (n)0.5 (d)13 ( )0.6 (s)0.5 (e)0.5 (n)0.6 (i)0.5 (o)0.5 (r)44 ( )]TJ 0.041 Tc T* [(management)12.8 ( of)12.8 ( the)12.9 ( Company,)12.9 ( and)12.8 ( gave)12.8 ( them)12.8 ( a)12.8 ( penalty)12.9 ( of)12.9 ( RMB)12.8 (2)12.9 (0)12.8 (,)12.9 (4)12.8 (4)12.8 (0)12.9 ( in)12.9 ( total)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (according to the amount of the Transaction;)Tj 0.076 Tw -2.181 -2.462 Td [(\(2\) )-588.5 (Given that the expiry of the term of office, Mr. Gong Yong has retired f\rom the )]TJ 0 Tw 2.181 -1.231 Td (position of Supervisor in the re-election;)Tj 0.033 Tc 0.075 Tw -2.181 -2.462 Td [(\()8 (3)8 (\))8 ( )-581.5 (The)8 ( )0.5 (Company)8 ( )0.5 (will)8 ( )0.5 (arrange)8 ( )0.5 (all)8 ( )0.5 (Directors)8 ( )0.5 (\(including)8 ( )0.5 (newly)8.1 ( )0.5 (appointed)8 ( )0.5 (Directors\),)8 ( )]TJ 0.029 Tc 0.079 Tw 2.181 -1.231 Td [(Supervisors)4 ( )0.5 (\(including)4 ( )0.5 (newly)4 ( )0.5 (appointed)4 ( )0.5 (Supervisors\))4 ( )0.5 (and)4 ( )0.5 (senior)4 ( )0.5 (management)4 ( )0.5 (of)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (the Company for training in:)Tj 0.046 Tc 0.07 Tw 0 -2.462 TD [(a)21 (.)21 ( )-1070.5 (Regulations)12.5 ( on)12.4 ( insider)12.5 ( trading,)12.4 ( market)12.4 ( manipulation)12.5 ( and)12.4 ( other)12.5 ( forbidden)21 ( )]TJ 0.025 Tc 0.073 Tw 2.18 -1.231 Td (practice in the Company Law of the People\222s Republic of China, Securi\ties )Tj 0.039 Tc 0.07 Tw 0 -1.231 TD [(Law)12.6 ( of)12.6 ( the)12.7 ( People\222s)12.6 ( Republic)12.7 ( of)12.6 ( China,)12.7 ( Securities)12.6 ( and)12.7 ( Futures)12.7 ( Ordinance)14 ( )]TJ 0.025 Tc 0.069 Tw T* (\(Cap. 571 of the Laws of Hong Kong\), Hong Kong Listing Rules and other\ )Tj 0 Tw T* (laws and regulations;)Tj 0.022 Tc -2.18 -2.462 Td [(b)-3 (.)-3 ( )-1108.5 (Internal control guidance and management system of the Company, includin\g)-3 ( )]TJ 0.04 Tc 0.07 Tw 2.18 -1.231 Td [(Rules)12.2 ( Governing)12.2 ( Changes)12.2 ( in)12.2 ( Shareholdings)12.2 ( of)12.2 ( Directors,)12.2 ( Supervisors)12.3 ( and)15 ( )]TJ 0.025 Tc 0 Tw T* (Senior Management;)Tj 0.06 Tc 0.07 Tw -4.361 -2.462 Td [(\()35 (4)35 (\))35 ( )-559.5 (The)12.5 ( Company)12.5 ( will)12.4 ( review)12.4 ( the)12.4 ( implementation)12.5 ( of)12.5 ( other)12.5 ( aspects)12.5 ( in)12.5 ( corporate)35.1 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.231 Td (governance to avoid similar events in the future.)Tj /T1_1 1 Tf -2.181 -2.462 Td (PURCHASE, SALE OR REDEMPTION OF SECURITIES)Tj /T1_0 1 Tf 0.063 Tc 0.07 Tw 0 -2.462 TD [(During)12.2 ( the)12.3 ( six)12.2 ( months)12.2 ( ended)12.2 ( 3)12.2 (0)12.3 ( June)12.3 ( 2)12.2 (0)12.3 (2)12.2 (0)12.2 (,)12.3 ( neither)12.2 ( the)12.3 ( Company)12.3 ( nor)12.2 ( any)12.3 ( of)12.2 ( its)38 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (subsidiaries repurchased, sold or redeemed any shares of the Company.)Tj ET endstreamendobj72 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 49 \226)Tj 0.034 Tw 13 0 0 13 56.6929 776.3179 Tm [(\(iv\) )-327.5 (The overall strategy and other key business, financial, and operational \policies of )]TJ 0.028 Tc 0.08 Tw 2.181 -1.231 Td [(the)3.1 ( )0.5 (Company)3 ( )0.5 (are)3 ( )0.5 (made)3 ( )0.5 (collectively)3 ( )0.5 (after)3 ( )0.5 (thorough)3.1 ( )0.5 (discussion)3 ( )0.5 (at)3 ( )0.6 (both)3 ( )0.5 (Board)3 ( )0.5 (and)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (senior management levels.)Tj /T1_1 1 Tf -2.181 -2.462 Td (MODEL CODE FOR SECURITIES TRANSACTIONS)Tj /T1_0 1 Tf 0.052 Tc 0.07 Tw 0 -2.462 TD [(The)12.3 ( Company)12.2 ( has)12.2 ( adopted)12.2 ( a)12.2 ( code)12.2 ( of)12.2 ( conduct)12.2 ( regarding)12.2 ( securities)12.2 ( transactions)12.3 ( by)27 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 TD [(Directors)8 ( )0.5 (and)8 ( )0.5 (Supervisors)8 ( )0.5 (on)8 ( )0.6 (the)8 ( )0.5 (required)8 ( )0.5 (standard)8 ( )0.5 (as)8 ( )0.5 (set)8 ( )0.5 (out)8 ( )0.5 (in)8 ( )0.5 (the)8 ( )0.5 (Model)8 ( )0.5 (Code)8 ( )0.5 (for)8 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 TD [(Securities)4.1 ( )0.5 (Transactions)4 ( )0.5 (by)4 ( )0.5 (Directors)4.1 ( )0.5 (of)4.1 ( Listed)4 ( )0.5 (Issuers)4 ( )0.5 (\(the)4.1 ( )0.5 (\223)]TJ /T1_1 1 Tf [(Model)4 ( )0.5 (Code)]TJ /T1_0 1 Tf [(\224\))4 ( )0.5 (set)4 ( )0.5 (out)4 ( )0.5 (in)4 ( )]TJ 0.042 Tc 0.07 Tw T* [(Appendix)12.4 ( 1)12.4 (0)12.5 ( to)12.5 ( the)12.4 ( Hong)12.5 ( Kong)12.4 ( Listing)12.4 ( Rules.)12.5 ( Having)12.5 ( made)12.4 ( specific)12.4 ( enquiry)12.4 ( to)12.5 ( all)17 ( )]TJ 0.039 Tc T* [(Directors)12.4 ( and)12.3 ( Supervisors,)12.3 ( the)12.4 ( Company)12.3 ( confirms)12.3 ( that)12.3 ( save)12.4 ( as)12.3 ( disclosed)12.3 ( below,)12.3 ( the)14.1 ( )]TJ 0.035 Tc 0.073 Tw T* [(D)0.5 (i)0.5 (r)0.5 (e)0.6 (c)0.5 (t)0.5 (o)0.5 (r)0.5 (s)10 ( )0.5 (a)0.5 (n)0.6 (d)10 ( )0.5 (S)0.5 (u)0.5 (p)0.5 (e)0.5 (r)0.5 (v)0.5 (i)0.5 (s)0.5 (o)0.5 (r)0.5 (s)10.1 ( )0.5 (h)0.5 (a)0.5 (v)0.5 (e)10 ( )0.5 (c)0.6 (o)0.5 (m)0.5 (p)0.5 (l)0.5 (i)0.5 (e)0.5 (d)10 ( )0.5 (w)0.5 (i)0.5 (t)0.5 (h)10 ( )0.5 (t)0.6 (h)0.5 (e)10 ( )0.5 (s)0.5 (t)0.5 (a)0.5 (n)0.5 (d)0.5 (a)0.5 (r)0.6 (d)0.5 (s)10 ( )0.5 (r)0.5 (e)0.5 (g)0.5 (a)0.6 (r)0.5 (d)0.5 (i)0.5 (n)0.5 (g)10 ( )0.5 (t)0.5 (h)0.5 (e)10 ( )0.5 (s)0.5 (e)0.6 (c)0.5 (u)0.5 (r)0.5 (i)0.5 (t)0.5 (i)0.5 (e)0.5 (s)10 ( )]TJ 0.025 Tc 0.076 Tw T* (transactions by Directors and Supervisors as set out in the Model Code a\s of 30 June )Tj -0.025 Tw T* (2020.)Tj /T1_1 1 Tf 0.031 Tc 0.077 Tw 0 -2.462 TD [(Issues)6 ( )0.5 (about)6.1 ( )0.5 (Supervisors)6 ( )0.5 (and)6 ( )0.5 (their)6 ( )0.5 (spouses)6 ( )0.6 (violating)6 ( )0.5 (regulations)6 ( )0.5 (on)6 ( )0.5 (prohibitions)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (against dealing stocks during the Reporting Period)Tj /T1_0 1 Tf 0.019 Tw 0 -2.462 TD (According to the Model Code and Rules 13.67 and 19A.07B of the Hong Kong\ Listing )Tj 0.049 Tw 0 -1.231 TD (Rules, Directors and Supervisors \(including their spouses\) are not all\owed to deal any )Tj 0.071 Tw 0 -1.231 TD [(securities of )0.5 (the listed issuers )0.5 (\(i\) on the date )0.5 (when listing issuers )0.5 (publish )0.5 (its )0.5 (financial )]TJ 0.046 Tw 0 -1.231 TD (results or the following period \(60 days before the annual results are \published, or the )Tj 0.031 Tc 0.077 Tw T* [(period)6 ( )0.5 (from)6 ( )0.5 (the)6.1 ( )0.5 (end)6 ( )0.5 (of)6 ( )0.5 (relevant)6.1 ( )0.5 (financial)6 ( )0.5 (year)6 ( )0.5 (to)6 ( )0.5 (the)6 ( )0.5 (date)6 ( )0.5 (when)6 ( )0.5 (results)6 ( )0.5 (are)6 ( )0.5 (published)6 ( )]TJ 0.036 Tc 0.072 Tw T* [(\(whichever)11 ( )0.5 (is)11 ( )0.5 (earlier\)\),)11 ( )0.5 (and)11 ( )0.5 (\(ii\))11 ( )0.5 (3)11 (0)11 ( )0.5 (days)11 ( )0.5 (before)11.1 ( )0.5 (quarterly)11 ( )0.5 (results)11 ( )0.5 (\(if)11 ( )0.5 (any\))11 ( )0.5 (and)11 ( )0.5 (interim)11 ( )]TJ 0.025 Tc 0.017 Tw T* (results are published, or the period from the end of relevant quarterly \or interim period )Tj 0.056 Tw T* (to the date when results are published \(whichever is earlier\). On 22 J\anuary 2020, the )Tj 0.04 Tw T* (Company informed all Directors, Supervisors and senior management of the\ Company )Tj 0.024 Tc 0 Tw T* [(through email of issues about prohibition against dealing stocks of the \Company during)-1 ( )]TJ 0.025 Tc T* (the period \(\223)Tj /T1_1 1 Tf (Blackout Period)Tj /T1_0 1 Tf (\224\) from 60 days before the annual results are published to )Tj T* (30 days before quarterly results are published, being 30 January to 30 A\pril 2020.)Tj 0.065 Tc 0.07 Tw 0 -2.462 TD [(On)12.7 ( 1)12.7 (0)12.8 ( February)12.8 ( 2)12.8 (0)12.7 (2)12.8 (0)12.7 (,)12.8 ( Ms.)12.7 ( Tang)12.8 ( Meiling,)12.8 ( spouse)12.8 ( of)12.8 ( Mr.)12.7 ( Gong)12.8 ( Yong)12.8 ( who)12.7 ( is)12.8 ( the)40 ( )]TJ 0.025 Tc 0.065 Tw 0 -1.231 TD (chairman of the board of Supervisors of the Company, purchased 400 A sha\res of the )Tj 0.032 Tw T* (Company at the average price of RMB51.10/share with the total transactio\n amount of )Tj 0.068 Tw T* (RMB20,440 without informing the chairman and the Board \(\223)Tj /T1_1 1 Tf (the Transaction)Tj /T1_0 1 Tf (\224\). The )Tj 0.04 Tc 0.07 Tw 0 -1.231 TD [(T)0.5 (r)0.6 (a)0.5 (n)0.5 (s)0.5 (a)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (v)0.6 (i)0.5 (o)0.5 (l)0.5 (a)0.5 (t)0.5 (e)0.6 (d)13 ( )0.5 (r)0.5 (e)0.6 (l)0.5 (e)0.5 (v)0.5 (a)0.5 (n)0.6 (t)13 ( )0.5 (r)0.5 (e)0.5 (g)0.5 (u)0.5 (l)0.6 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.6 (s)13 ( )0.5 (t)0.5 (h)0.5 (a)0.6 (t)13 ( )0.5 (S)0.5 (u)0.5 (p)0.5 (e)0.5 (r)0.6 (v)0.5 (i)0.5 (s)0.5 (o)0.5 (r)0.6 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13.1 ( )0.5 (t)0.5 (h)0.5 (e)0.5 (i)0.6 (r)13 ( )0.5 (s)0.5 (p)0.5 (o)0.5 (u)0.6 (s)0.5 (e)0.5 (s)13 ( )0.5 (a)0.6 (r)0.5 (e)13 ( )0.5 (n)0.6 (o)0.5 (t)15 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 TD [(allowed)8 ( )0.5 (to)8 ( )0.5 (deal)8 ( )0.5 (stocks)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (Company)8 ( )0.5 (during)8 ( )0.5 (the)8 ( )0.5 (Blackout)8 ( )0.5 (Period.)8 ( )0.5 (The)8 ( )0.5 (Transaction)8 ( )]TJ 0.025 Tc 0.081 Tw T* (has been examined by the Company. Apart from that, no other directors, s\upervisors, )Tj 0.051 Tc 0.07 Tw T* [(their)12.4 ( spouses)12.4 ( or)12.5 ( other)12.4 ( related)12.4 ( people)12.5 ( violated)12.5 ( the)12.5 ( regulations)12.4 ( during)12.4 ( the)12.4 ( Blackout)26 ( )]TJ 0.023 Tc 0 Tw T* [(P)0.5 (e)0.5 (r)0.5 (i)0.5 (o)0.5 (d)0.6 (.)0.5 ( )0.5 (F)0.5 (u)0.5 (r)0.5 (t)0.5 (h)0.5 (e)0.5 (r)0.5 (m)0.5 (o)0.5 (r)0.5 (e)0.6 (,)0.5 ( )0.5 (M)0.5 (s)0.5 (.)0.5 ( )0.5 (T)0.5 (a)0.5 (n)0.5 (g)0.5 ( )0.5 (M)0.6 (e)0.5 (i)0.5 (l)0.5 (i)0.5 (n)0.5 (g)0.5 (,)0.5 ( )0.5 (s)0.5 (p)0.5 (o)0.5 (u)0.5 (s)0.6 (e)0.5 ( )0.5 (o)0.5 (f)0.5 ( )0.5 (M)0.5 (r)0.5 (.)0.5 ( )0.5 (G)0.5 (o)0.5 (n)0.6 (g)0.5 ( )0.5 (Y)0.5 (o)0.5 (n)0.5 (g)0.5 (,)0.5 ( )0.5 (c)0.5 (a)0.5 (n)0.5 (n)0.6 (ot)0.6 ( )0.5 (i)0.5 (m)0.5 (m)0.5 (e)0.5 (d)0.5 (i)0.5 (a)0.5 (t)0.5 (e)0.6 (l)0.5 (y)-2.1 ( )]TJ 0.033 Tc 0.075 Tw T* [(sell)8 ( )0.5 (her)8 ( )0.5 (A)8 ( )0.5 (shares)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (Company)8 ( )0.5 (purchased)8 ( )0.5 (through)8 ( )0.5 (the)8.1 ( )0.5 (Transaction)8 ( )0.5 (currently)8 ( )0.5 (since)8 ( )]TJ 0.025 Tc 0.052 Tw T* (Article 47 of Security Law of the People\222s Republic of China specifie\s that Directors, )Tj 0.036 Tc 0.072 Tw T* [(Supervisors)11.1 ( and)10.9 ( )0.6 (senior)11 ( )0.5 (management)11 ( )0.5 (of)11 ( )0.5 (a)11 ( )0.5 (listed)11 ( )0.5 (company)11 ( )0.5 (are)11 ( )0.5 (prohibited)11 ( )0.5 (from)11 ( )0.5 (selling)11 ( )]TJ 0.026 Tc 0.082 Tw T* [(its)1 ( )0.5 (shares)1 ( )0.5 (within)1 ( )0.5 (six)1 ( )0.5 (months)1 ( )0.5 (after)1 ( )0.5 (purchasing)1 ( )0.5 (the)1 ( )0.5 (shares,)1 ( )0.5 (or)1 ( )0.5 (purchase)1 ( )0.5 (the)1 ( )0.5 (shares)1 ( )0.5 (again)1 ( )]TJ 0.025 Tc 0 Tw T* (within six months after selling them.)Tj ET endstreamendobj71 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 48 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (Compliance with the Corporate Governance Code)Tj /T1_0 1 Tf 0.079 Tc 0.07 Tw 0 -2.385 TD [(The)12.9 ( Company)12.8 ( is)12.9 ( firmly)12.9 ( committed)12.9 ( to)12.9 ( achieving)12.9 ( and)12.8 ( maintaining)12.9 ( high)12.9 ( overall)54 ( )]TJ 0.076 Tc 0 -1.192 TD [(standards)12.6 ( of)12.6 ( corporate)12.6 ( governance)12.5 ( through)12.6 ( continuous)12.6 ( effort)12.6 ( in)12.5 ( improving)12.6 ( its)51 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.192 TD [(corporate)7 ( )0.5 (governance)7 ( )0.5 (practices)7 ( )0.6 (and)7 ( )0.5 (processes.)7 ( )0.5 (Through)7 ( )0.6 (the)7 ( )0.5 (establishment)7 ( )0.5 (of)7 ( )0.5 (a)7 ( )0.5 (sound)7 ( )]TJ 0.064 Tc 0.07 Tw T* [(and)12.7 ( effective)12.7 ( corporate)12.8 ( governance)12.7 ( framework,)12.7 ( the)12.8 ( Company)12.8 ( strives)12.7 ( to)12.7 ( achieve)39 ( )]TJ 0.062 Tc T* [(completeness)12 ( and)12 ( transparency)12 ( in)12 ( its)12.1 ( information)12.1 ( disclosure)12.1 ( and)12.1 ( enhance)12.1 ( stable)37.1 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.192 TD [(operation,)9 ( )0.5 (so)9 ( )0.5 (as)9 ( )0.5 (to)9 ( )0.5 (safeguard)9 ( )0.5 (the)9 ( )0.5 (interests)9 ( )0.5 (of)9 ( )0.5 (the)9.1 ( )0.5 (Shareholders)9 ( )0.5 (to)9 ( )0.5 (the)9 ( )0.5 (greatest)8.9 ( )0.6 (extent.)9 ( )]TJ 0.025 Tc 0.064 Tw 0 -1.192 TD (The Company has adopted all code provisions and principles of the code o\f corporate )Tj 0.049 Tw T* (governance as set out in the Corporate Governance Code contained in Appe\ndix 14 to )Tj 0.065 Tw T* (the Rules Governing the Listing of Securities on The Stock Exchange of \Hong Kong )Tj 0.04 Tc 0.07 Tw 0 -1.192 TD [(Limited)12.5 ( \(the)12.5 ( \223)]TJ /T1_1 1 Tf [(Hong)12.5 ( Kong)12.5 ( Listing)12.5 ( Rules)]TJ /T1_0 1 Tf [(\224\))12.5 ( as)12.5 ( the)12.5 ( basis)12.5 ( of)12.5 ( its)12.5 ( corporate)12.5 ( governance)15 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.192 TD (practices.)Tj 0 Tw 0 -2.385 TD (Other than the deviation from code provision A.2.1 of the Corporate Gove\rnance Code, )Tj 0.039 Tc 0.07 Tw 0 -1.192 TD [(the)12.2 ( Company)12.3 ( has)12.2 ( complied)12.2 ( with)12.2 ( the)12.2 ( principle)12.2 ( and)12.2 ( code)12.2 ( provisions)12.2 ( of)12.2 ( the)12.2 ( Corporate)14.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.192 TD (Governance Code as set out in Appendix 14 to the Hong Kong Listing Rules\ during the )Tj 0 -1.192 TD (six months ended 30 June 2020.)Tj /T1_1 1 Tf 0 -2.385 TD (Deviation from Code Provision A.2.1 of Corporate Governance Code)Tj /T1_0 1 Tf 0.052 Tc 0.07 Tw 0 -2.385 TD [(Mr.)12.7 ( Li)12.7 ( Liangbin)12.7 ( is)12.7 ( the)12.7 ( chairman)12.7 ( of)12.7 ( the)12.7 ( Board)12.7 ( and)12.6 ( the)12.7 ( President)12.6 ( of)12.7 ( our)12.7 ( Company.)27 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.192 TD [(W)0.5 (it)0.5 (h)1.9 ( )0.5 (e)0.5 (xt)0.5 (en)0.5 (si)0.5 (ve)2 ( )0.5 (e)0.5 (xp)0.5 (e)0.5 (ri)0.5 (en)0.5 (ce)2 ( )0.5 (i)0.5 (n)2 ( )0.5 (th)0.5 (e)2 ( l)0.5 (it)0.5 (hi)0.5 (um)2 ( )0.5 (i)0.5 (nd)0.5 (ust)0.5 (r)0.5 (y,)2 ( )0.5 (Mr)0.5 (.)2 ( )0.5 (Li)2 ( )0.5 (Li)0.5 (a)0.5 (ng)0.5 (bi)0.5 (n)1.9 ( )0.5 (i)0.5 (s)2 ( )0.5 (re)0.5 (sp)0.5 (on)0.5 (si)0.5 (bl)0.5 (e)2 ( )0.5 (fo)0.5 (r)2 ( )]TJ 0.045 Tc 0.07 Tw T* [(the)12.3 ( overall)12.3 ( management)12.2 ( of)12.3 ( our)12.3 ( Company\222s)12.3 ( business)12.3 ( strategies)12.3 ( and)12.3 ( operations.)12.3 ( The)20 ( )]TJ 0.054 Tc 0 -1.192 TD [(Company)12.1 ( believes)12.1 ( that)12.1 ( he)12.1 ( is)12.1 ( instrumental)12.2 ( to)12.2 ( the)12.1 ( Company\222s)12.1 ( growth)12.2 ( and)12.1 ( business)29 ( )]TJ 0.061 Tc 0 -1.192 TD [(expansion)12.4 ( since)12.4 ( its)12.4 ( establishment)12.4 ( in)12.4 ( 2)12.4 (0)12.4 (0)12.4 (0)12.4 (.)12.4 ( The)12.5 ( Board)12.4 ( considers)12.4 ( that)12.4 ( vesting)12.4 ( the)36 ( )]TJ 0.035 Tc 0.073 Tw T* [(roles)10 ( )0.5 (of)10 ( )0.5 (chairman)10.1 ( of)10 ( )0.5 (the)10 ( )0.5 (Board)10 ( )0.5 (and)10 ( )0.5 (President)10 ( )0.5 (in)10 ( )0.5 (the)10.1 ( )0.5 (same)10 ( )0.5 (person)10 ( )0.5 (is)10 ( )0.5 (beneficial)10 ( )0.5 (to)10 ( )0.5 (the)10 ( )]TJ 0.034 Tc 0.074 Tw T* [(management)9 ( )0.5 (of)9 ( )0.5 (our)9 ( )0.5 (Company.)9 ( )0.5 (The)9 ( )0.5 (Company)9 ( )0.5 (believes)9 ( )0.5 (that)9 ( )0.6 (the)9 ( )0.5 (balance)9 ( )0.5 (of)8.9 ( )0.6 (power)9 ( )0.5 (and)9 ( )]TJ 0.025 Tc 0.075 Tw T* [(authority is )0.5 (ensured )0.5 (by the )0.5 (operation )0.5 (of the )0.5 (senior )0.5 (management )0.5 (and )0.5 (the )0.5 (Board, )0.5 (which )]TJ 0.048 Tw 0 -1.192 TD (comprises experienced and high-caliber individuals. After the re-electio\n of the Board )Tj 0.04 Tc 0.07 Tw 0 -1.192 TD [(on)12.4 ( 2)12.4 (4)12.4 ( March)12.4 ( 2)12.4 (0)12.3 (2)12.4 (0)12.4 (,)12.4 ( the)12.4 ( Board)12.4 ( comprises)12.4 ( four)12.4 ( executive)12.4 ( Directors)12.4 ( \(including)12.4 ( Mr.)12.3 ( Li)15 ( )]TJ 0.025 Tc 0.035 Tw T* (Liangbin\), two non-executive Directors and four independent non-executi\ve Directors. )Tj 0.062 Tc 0.07 Tw T* [(The)12.3 ( Board)12.2 ( believes)12.2 ( that)12.3 ( this)12.3 ( structure)12.3 ( will)12.3 ( not)12.3 ( impair)12.2 ( the)12.3 ( balance)12.2 ( of)12.3 ( power)12.3 ( and)37 ( )]TJ 0.025 Tc 0 Tw 0 -1.192 TD (authority between the Board and the management of the Company, given tha\t:)Tj 0.037 Tc 0.071 Tw 0 -2.385 TD [(\()12 (i)12 (\))12 ( )-803.5 (There)12 ( )0.5 (is)12 ( )0.5 (sufficient)12 ( )0.5 (check)12 ( )0.5 (and)12 ( )0.5 (balance)12 ( )0.5 (in)12 ( )0.5 (the)12 ( )0.5 (Board)12 ( )0.5 (as)12 ( )0.5 (the)12 ( )0.5 (decisions)12 ( )0.5 (to)12 ( )0.5 (be)12 ( )0.5 (made)12.1 ( )]TJ 0.025 Tc 0.045 Tw 2.181 -1.192 Td (by the Board require approval by at least a majority of the Directors an\d after 24 )Tj 0.029 Tc 0.079 Tw 0 -1.192 TD [(March)4 ( )0.5 (2)4 (0)4 (2)4 (0)4 (,)4 ( )0.5 (the)4 ( )0.5 (Board)4 ( )0.5 (has)4.1 ( )0.5 (four)4 ( )0.5 (independent)4 ( )0.6 (non-executive)4 ( )0.5 (Directors)4 ( )0.5 (out)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.192 TD (ten Directors, which is in compliance with the Hong Kong Listing Rules;)Tj 0.015 Tw -2.181 -2.385 Td [(\(ii\) )-568.5 (Mr. Li Liangbin and the other Directors are aware of and undertake to fu\lfill their )]TJ 0.04 Tw 2.181 -1.192 Td (fiduciary duties as Directors, which require, among other things, that t\hey act for )Tj 0.038 Tc 0.07 Tw T* [(the)12.6 ( benefit)12.6 ( and)12.5 ( in)12.6 ( the)12.5 ( best)12.6 ( interest)12.5 ( of)12.6 ( the)12.5 ( Company)12.5 ( and)12.6 ( make)12.6 ( decisions)12.6 ( for)12.5 ( the)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.192 TD (Company accordingly;)Tj 0.043 Tc 0.07 Tw -2.181 -2.385 Td [(\()18 (i)18 (i)18 (i)18 (\))18 ( )-192.5 (The)12.4 ( balance)12.4 ( of)12.4 ( power)12.4 ( and)12.4 ( authority)12.5 ( is)12.4 ( ensured)12.4 ( by)12.5 ( the)12.5 ( operations)12.5 ( of)12.4 ( the)12.5 ( Board)18 ( )]TJ 0.025 Tc 0.068 Tw 2.181 -1.192 Td (which comprises experienced and high-caliber individuals who meet regula\rly to )Tj 0 Tw 0 -1.231 TD (discuss issues affecting the operations of the Company; and)Tj ET endstreamendobj70 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 47 \226)Tj 0.031 Tc 0.077 Tw 13 0 0 13 56.6929 776.3179 Tm [(amounted)6 ( )0.5 (to)6 ( )0.5 (USD)6.1 (4)6 (0)6 (,)6 (4)6 (4)6 (0)6 (,)6 (0)6 (0)6 (0)6 (.)6 ( )0.5 (As)6 ( )0.5 (at)6 ( )0.5 (3)6 (0)6 ( )0.6 (June)6 ( )0.5 (2)6 (0)6 (2)6 (0)6 (,)6.1 ( )0.5 (the)6 ( )0.5 (Company)6 ( )0.5 (utilized)6 ( )0.5 (proceeds)6 ( )0.5 (of)6 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.231 TD (USD410,092,659 in aggregate and the balance of unutilized proceeds is ni\l. During the )Tj 0.013 Tw T* (Reporting Period, the Company utilized proceeds of approximately USD40,\440,000 in )Tj 0.076 Tw T* [(aggregate \(the utilized proceeds in aggregate includes )0.5 (interest income )0.5 (generated from )]TJ 0.012 Tw T* (proceeds deposited with the designated proceeds account\). The use of pr\oceeds from H )Tj 0 Tw T* (shares of the Company is as follows:)Tj /T1_1 1 Tf 10.4 0 0 13 56.6929 664.3179 Tm (Use of proceeds disclosed in the )Tj -0.025 Tw T* (prospectus)Tj 0 Tw 18.664 1.231 Td (Percentage use )Tj 1.574 -1.231 Td (of proceeds )Tj -1.766 -1.231 Td (disclosed in the )Tj -0.025 Tw 2.04 -1.231 Td (prospectus)Tj 0 Tw 5.654 3.692 Td (Usage details)Tj 11.853 0 Td (Amount used as at )Tj 2.486 -1.231 Td (30 June 2020)Tj /T1_0 1 Tf -40.505 -3.692 Td (\(i\) Investments and acquisitions of )Tj 1.008 -1.231 Td (upstream lithium resources; and )Tj T* (\(ii\) funding capital expenditure in )Tj 0 -1.231 TD (connection with the exploration of )Tj 0.018 Tc 0 -1.231 TD [(upstream lithium resources as well as)-7 ( )]TJ 0.024 Tc T* [(the expansion of production capacity)-1 ( )]TJ 0.025 Tc T* (of lithium compounds, lithium )Tj T* (metals, lithium batteries and lithium )Tj -0.025 Tw T* (recycling.)Tj 22.457 9.846 Td (58% )Tj -4.472 -1.231 Td (Approximately )Tj -0.97 -1.231 Td (USD234,550,000 )Tj 0 Tw 8.143 2.462 Td ( \(i\) Acquisition of )Tj 0.021 Tc 1.008 -1.231 Td [(37.5% equity interests)-4 ( )]TJ 0.025 Tc T* (in the Cauchari-)Tj 0 -1.231 TD (Olaroz Project and )Tj 0 -1.231 TD (provision of loans )Tj T* (for the project; \(ii\) )Tj T* (Construction of the )Tj T* (17,500-tonne lithium )Tj T* (carbonate production )Tj T* (line in Ningdu; \(iii\) )Tj T* (Power battery project )Tj T* (construction; and )Tj T* (\(iv\) Lithium battery )Tj T* (recycling project )Tj -0.025 Tw T* (construction)Tj 11.836 17.231 Td (USD234,550,000 )Tj 0 Tw 1.473 -1.231 Td (\(equivalent to )Tj -0.025 Tw -2.854 -1.231 Td (RMB1,626,235,582\))Tj 0 Tw -37.63 -17.231 Td (Intended to be used to provide )Tj 1.254 -1.231 Td (financial assistance to Lithium )Tj T* (Americas Corp., which will use the )Tj T* (funds to cover capital expenditure )Tj T* (for construction of the Cauchari-)Tj T* (Olaroz Project)Tj -0.025 Tw 22.211 6.154 Td (22% )Tj -4.472 -1.231 Td (Approximately )Tj -0.445 -1.231 Td (USD88,970,000)Tj 0 Tw 7.618 2.462 Td (Intended to be used )Tj 1.008 -1.231 Td (to provide financial )Tj T* (assistance to Lithium )Tj T* (Americas Corp., )Tj T* (which is used for )Tj T* (development loan of )Tj T* (the Cauchari-Olaroz )Tj -0.025 Tw T* (Project)Tj 12.361 8.615 Td (USD88,970,000 )Tj 0 Tw 0.948 -1.231 Td (\(equivalent to )Tj -0.025 Tw -2.054 -1.231 Td (RMB616,867,106\))Tj 0 Tw -38.43 -7.385 Td (Intended to be used for our research )Tj 1.254 -1.231 Td (and development efforts, in )Tj T* (particular on solid-state lithium )Tj -0.025 Tw T* (batteries)Tj 22.211 3.692 Td (10% )Tj -4.472 -1.231 Td (Approximately )Tj -0.445 -1.231 Td (USD40,440,000)Tj 0 Tw 7.618 2.462 Td (Intended to be used )Tj 1.008 -1.231 Td (for our research and )Tj T* (development costs)Tj -0.025 Tw 12.361 2.462 Td (USD40,440,000 )Tj 0 Tw 1.306 -1.231 Td (equivalent to )Tj -0.025 Tw -2.77 -1.231 Td (\(RMB284,206,254\))Tj 0 Tw -38.072 -3.692 Td (General corporate purposes)Tj -0.025 Tw 23.465 0 Td 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)0.5 (e)0.5 (x)0.5 (c)0.5 (e)0.5 (e)0.5 (d)8 ( )0.5 (U)0.5 (SD)8.1 (2)8 (0)8 (0)8 ( )0.5 (mi)0.5 (l)0.5 (l)0.5 (i)0.5 (on)8.1 ( )0.5 (t)0.5 (o)8 ( )0.5 (e)0.5 (ns)0.5 (u)0.5 (r)0.5 (e)8 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.231 TD (the smooth construction and operation of Cauchari-Olaroz project. On 24 \March 2020, )Tj 0.036 Tw 0 -1.231 TD [(the )0.5 (resolution )0.5 (in )0.5 (relation )0.5 (to )0.5 (the )0.5 (\223subscription )0.5 (of )0.5 (certain )0.5 (equity )0.5 (involving )0.5 (investment )0.5 (in )]TJ 0.063 Tw T* (mining rights and capital increase in Argentina Minera Exar by Netherlan\ds Ganfeng, )Tj 0.036 Tc 0.072 Tw T* [(a)11 ( )0.5 (wholly-owned)11 ( )0.5 (subsidiary)11 ( )0.5 (of)11 ( )0.5 (GFL)11 ( )0.5 (International,)11 ( )0.5 (and)11 ( )0.5 (related)11 ( )0.5 (party)11 ( )0.5 (transaction\224)11 ( )0.5 (was)11 ( )]TJ 0.025 Tc 0.047 Tw T* (approved by the shareholders of the Company \(the \223)Tj /T1_1 1 Tf -0.025 Tw (Shareholders)Tj /T1_0 1 Tf 0.047 Tw [(\224\). )0.5 (The subscription )]TJ 0.051 Tc 0.07 Tw T* [(has)12.3 ( not)12.3 ( yet)12.3 ( been)12.3 ( completed.)12.3 ( Upon)12.3 ( completion)12.3 ( of)12.3 ( the)12.3 ( subscription,)12.3 ( the)12.3 ( Group)12.3 ( will)25.9 ( )]TJ 0.028 Tc 0.08 Tw T* [(hold)3 ( )0.5 (a)3 ( )0.5 (total)3 ( )0.5 (of)3 ( )0.5 (5)3 (1)3 (%)3 ( )0.5 (equity)3 ( )0.5 (interests)3 ( )0.5 (in)3 ( )0.5 (Minera)3 ( )0.5 (Exar,)3 ( )0.5 (making)2.9 ( )0.5 (it)3 ( )0.5 (the)3 ( )0.5 (largest)3 ( )0.5 (controlling)3 ( )]TJ 0.042 Tc 0.07 Tw T* [(s)0.5 (ha)0.5 (r)0.5 (e)0.5 (ho)0.5 (l)0.5 (de)0.5 (r)13 ( )0.5 (in)13 ( )0.5 (Mi)0.5 (n)0.5 (e)0.5 (ra)13 ( )0.5 (E)0.5 (xa)0.5 (r)13 ( )0.5 (an)0.5 (d)13 ( L)0.5 (A)0.5 (C)13 ( w)0.5 (i)0.5 (l)0.5 (l)12.9 ( )0.5 (r)0.5 (e)0.5 (ta)0.5 (i)0.5 (n)12.9 ( )0.5 (i)0.5 (ts)13 ( )0.5 (4)13 (9)12.9 (%)13 ( )0.5 (eq)0.5 (u)0.5 (it)0.5 (y)13 ( i)0.5 (n)0.5 (te)0.5 (r)0.5 (e)0.5 (st)0.5 (s)13 ( )0.5 (in)13 ( )0.5 (Mi)0.5 (n)0.5 (e)0.5 (ra)17.1 ( )]TJ 0.025 Tc -0.025 Tw T* (Exar.)Tj /T1_1 1 Tf 0 Tw 13 0 3.4833 13 55.3588 408.409 Tm (Acquisition of equity in Exar Capital BV)Tj /T1_0 1 Tf 0.057 Tc 0.07 Tw 13 0 0 13 56.6929 376.409 Tm [(On)12.8 ( 7)12.8 ( February)12.8 ( 2)12.8 (0)12.8 (2)12.7 (0)12.8 (,)12.8 ( the)12.8 ( Board)12.8 ( agreed)12.7 ( the)12.8 ( subscription)12.7 ( of)12.8 ( no)12.8 ( more)12.8 ( than)12.8 ( 6)12.7 (8)12.8 (8)12.8 (,)12.7 (7)12.8 (7)12.8 (6)32 ( )]TJ 0.037 Tc 0.071 Tw T* [(new)12 ( )0.5 (shares)12 ( )0.5 (of)12 ( )0.5 (Exar)12 ( )0.5 (Capital)12 ( )0.5 (by)12 ( )0.5 (GFL)12.1 ( )0.5 (International,)12 ( )0.5 (a)12 ( )0.5 (wholly-owned)12 ( )0.6 (subsidiary)12 ( )0.5 (of)12 ( )0.5 (the)12.1 ( )]TJ 0.025 Tc 0.01 Tw T* (Company, with its self-owned funds of no more than USD688,776. On 24 Mar\ch 2020, )Tj 0.043 Tc 0.07 Tw T* [(the)12.3 ( resolution)12.2 ( in)12.2 ( relation)12.2 ( to)12.2 ( the)12.2 ( \223approval)12.3 ( of)12.2 ( subscription)12.3 ( of)12.3 ( certain)12.2 ( equity)12.3 ( in)12.3 ( Exar)18 ( )]TJ 0.028 Tc 0.08 Tw T* [(Capital)3 ( )0.5 (and)3 ( )0.5 (provision)3 ( )0.5 (of)3 ( )0.5 (financial)3 ( )0.5 (assistance)3 ( )0.5 (to)3 ( )0.5 (Exar)3 ( )0.5 (Capital)3 ( )0.6 (by)3 ( )0.5 (GFL)3 ( )0.5 (International)3 ( )0.5 (\(a)3 ( )]TJ 0.025 Tc 0.003 Tw T* [(wholly-owned subsidiary of the Company\) and related party )0.5 (transaction\224 was approved )]TJ 0.043 Tc 0.07 Tw T* [(by)12.8 ( the)12.7 ( Shareholders.)12.7 ( Upon)12.7 ( the)12.7 ( completion)12.7 ( of)12.7 ( the)12.8 ( transaction,)12.7 ( it)12.7 ( is)12.7 ( agreed)12.7 ( that)12.8 ( GFL)18 ( )]TJ 0.054 Tc 0 -1.231 TD [(International)12.5 ( provide)12.5 ( a)12.5 ( total)12.5 ( financial)12.5 ( assistance)12.5 ( amount)12.4 ( of)12.5 ( no)12.4 ( more)12.5 ( than)12.4 ( USD)12.5 (4)12.4 (0)29 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 TD [(million)2 ( )0.5 (to)2 ( )0.5 (Exar)2 ( )0.5 (Capital)2 ( )0.5 (for)2 ( )0.5 (its)2 ( )0.5 (related)2 ( borrowings)2 ( )0.5 (repayment.)2 ( )0.5 (The)2 ( transaction)2 ( )0.5 (has)2 ( )0.5 (not)2 ( )]TJ 0 -1.231 TD [(yet)1.9 ( )0.5 (been)2 ( )0.5 (completed.)2 ( Upon)2 ( )0.5 (the)2 ( )0.5 (completion)2.1 ( of)2 ( )0.5 (the)2 ( )0.5 (subscription,)2 ( )0.5 (GFL)2 ( )0.5 (International)2 ( )0.5 (will)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (hold no more than 51% equity interests in Exar Capital.)Tj /T1_1 1 Tf 13 0 3.4833 13 55.3588 184.409 Tm (Capital injection in Reed Industrial Minerals Pty Ltd. \(\223RIM\224\))Tj /T1_0 1 Tf 0.072 Tc 0.07 Tw 13 0 0 13 56.6929 152.409 Tm [(On)12.6 ( 7)12.6 ( February)12.6 ( 2)12.6 (0)12.6 (2)12.6 (0)12.6 (,)12.6 ( the)12.6 ( Board)12.6 ( of)12.6 ( the)12.6 ( Company)12.6 ( agreed)12.6 ( the)12.6 ( capital)12.6 ( increase)12.6 ( in)47 ( )]TJ 0.025 Tc 0.057 Tw T* (Australia-based RIM Company by GFL International, a wholly-owned subsidi\ary, and )Tj 0.051 Tw T* (Process Minerals International Pty Ltd in proportion to their respective\ shareholdings, )Tj 0.041 Tc 0.07 Tw T* [(with)12.8 ( the)12.8 ( transaction)12.8 ( amount)12.7 ( not)12.8 ( exceeding)12.8 ( AUD)12.8 (5)12.8 (0)12.8 ( million.)12.8 ( On)12.7 ( 2)12.8 (4)12.7 ( March)12.7 ( 2)12.8 (0)12.7 (2)12.8 (0)12.8 (,)12.7 ( the)16 ( )]TJ 0.039 Tc T* [(resolution)12.2 ( in)12.1 ( relation)12.1 ( to)12.2 ( the)12.1 ( \223capital)12.1 ( increase)12.1 ( in)12.1 ( Australia-based)12.2 ( RIM)12.1 ( Company)12.1 ( and)14 ( )]TJ 0.025 Tc 0 Tw T* (related party transaction\224 was approved by the Shareholders.)Tj ET endstreamendobj83 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 44 \226)Tj /T1_1 1 Tf 0.04 Tc 0.07 Tw 13 0 0 13 56.6929 776.409 Tm [(1)15 (5)15 (.)15 ( )-495.5 (Exposure)12.5 ( to)12.5 ( risks)12.5 ( of)12.5 ( exchange)12.4 ( rate)12.4 ( fluctuation)12.5 ( and)12.5 ( corresponding)12.4 ( hedging)15 ( )]TJ 0.025 Tc -0.025 Tw 2.181 -1.231 Td (measures)Tj /T1_0 1 Tf 0.071 Tc 0.07 Tw 0 -2.462 TD [(T)0.5 (he)12.9 ( )0.5 (Gr)0.5 (ou)0.5 (p)12.9 ( )0.5 (bus)0.5 (ine)0.5 (ss)13 ( )0.5 (is)12.9 ( )0.5 (lo)0.5 (ca)0.5 (te)0.5 (d)12.9 ( i)0.5 (n)12.9 ( )0.5 (Ma)0.5 (inl)0.5 (an)0.5 (d)12.9 ( )0.5 (Chi)0.5 (na)13 ( a)0.5 (nd)13 ( a)0.5 (ll)12.9 ( )0.5 (tr)0.5 (an)0.5 (sa)0.5 (ct)0.5 (ion)0.5 (s)12.9 ( )0.5 (ar)0.5 (e)46 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 TD [(denominated)5 ( )0.5 (in)5 ( )0.5 (Renminbi.)5 ( )0.5 (Most)5 ( )0.5 (of)5 ( )0.5 (our)5 ( )0.5 (assets)5 ( )0.5 (and)5 ( )0.5 (liabilities)5 ( )0.5 (are)5 ( )0.5 (denominated)5 ( )0.5 (in)5 ( )]TJ 0.043 Tc 0.07 Tw T* [(RMB,)12.1 ( except)12.1 ( for)12.2 ( certain)12.2 ( bank)12.2 ( balances)12.2 ( denominated)12.2 ( in)12.2 ( U.S.)12.2 ( dollars)12.2 ( and)12.2 ( other)18 ( )]TJ 0.04 Tc T* [(foreign)12.4 ( currencies.)12.4 ( Our)12.4 ( assets)12.4 ( and)12.4 ( liabilities)12.4 ( denominated)12.4 ( in)12.4 ( U.S.)12.5 ( dollars)12.4 ( were)15 ( )]TJ 0 -1.231 TD [(mainly)12.3 ( held)12.3 ( by)12.3 ( certain)12.3 ( subsidiaries)12.3 ( which)12.3 ( were)12.3 ( incorporated)12.3 ( outside)12.3 ( Mainland)15 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 TD [(C)0.5 (hi)0.5 (na)10 ( )0.5 (a)0.5 (n)0.5 (d)10 ( )0.5 (ad)0.5 (op)0.5 (te)0.5 (d)10 ( )0.5 (U)0.5 (.S)0.5 (.)10 ( )0.5 (do)0.5 (ll)0.5 (a)0.5 (rs)10 ( )0.5 (a)0.5 (s)10 ( )0.5 (t)0.5 (he)0.5 (ir)10 ( )0.5 (f)0.5 (un)0.5 (c)0.5 (ti)0.5 (on)0.5 (a)0.5 (l)9.9 ( )0.6 (cu)0.5 (rr)0.5 (e)0.5 (nc)0.5 (y,)10 ( )0.5 (a)0.5 (nd)10.1 ( )0.5 (th)0.5 (e)10 ( )0.5 (Gr)0.5 (o)0.5 (up)10 ( )0.5 (d)0.5 (id)10 ( )]TJ 0.025 Tc 0.022 Tw T* (not conduct any material foreign exchange transactions in Mainland China\ during )Tj 0.015 Tw T* (the Reporting Period. In view of the foregoing, the Group had no materia\l foreign )Tj 0 Tw T* (exchange risks during the Reporting Period.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(16. )-580.5 (Contingent liabilities)]TJ /T1_0 1 Tf 2.181 -2.462 Td (As at 30 June 2020, the Group did not have any material contingent liabi\lities.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(17. )-580.5 (Employees and remuneration system)]TJ /T1_0 1 Tf 0.043 Tw 2.181 -2.462 Td (As at 30 June 2020, the Group had a total of 5,237 employees. The remune\ration )Tj 0.027 Tc 0.081 Tw 0 -1.231 TD [(package)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (Group\222s)2 ( )0.5 (employees)2 ( )0.5 (includes)2 ( )0.5 (salaries,)2 ( )0.5 (allowances,)2 ( )0.5 (benefit)2 ( )0.5 (in)2 ( )0.5 (kind)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (and performance related bonuses.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(18. )-580.5 (Capital commitments)]TJ /T1_0 1 Tf 2.181 -2.462 Td (The Group had the following capital commitments as at 30 June 2020:)Tj /T1_1 1 Tf 25.616 -2.462 Td (As at )Tj -1.162 -1.231 Td (30 June )Tj -0.025 Tw 1.381 -1.231 Td (2020)Tj /T1_0 1 Tf 0 Tw 6.87 2.462 Td (As at )Tj -3.426 -1.231 Td (31 December )Tj -0.025 Tw 3.534 -1.231 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4325 296.409 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj 0 Tw 13 0 0 13 85.0394 264.409 Tm (Contracted, but not provided for )Tj 0 Tc ( )Tj 0.025 Tc 1.003 -1.231 Td (\226 Land and buildings)Tj /T1_1 1 Tf 0 Tc 26.407 0 Td (\226)Tj /T1_0 1 Tf 6.978 0 Td (\226)Tj 0.025 Tc -34.388 -1.231 Td (Contracted, but not provided for )Tj 0 Tc ( )Tj 0.025 Tc 1.003 -1.231 Td (\226 Plant and machinery)Tj /T1_1 1 Tf -0.025 Tw 23.507 0 Td (419,559)Tj /T1_0 1 Tf 6.978 0 Td (414,418)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.504 211.9989 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 213.3999 Tm ( )Tj ET q 1 0 0 1 459.2126 211.9989 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5433 213.3999 Tm ( )Tj 0.025 Tc -0.025 Tw -28.346 -2.462 Td (Total)Tj /T1_1 1 Tf 24.51 0 Td (419,559)Tj /T1_0 1 Tf 6.978 0 Td (414,418)Tj ET 2.5 w q 1 0 0 1 368.504 175.8354 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5041 172.5029 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 173.7364 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2127 175.8354 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2127 172.5029 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5434 173.7364 Tm ( )Tj ET endstreamendobj82 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 43 \226)Tj 0.05 Tc 0.07 Tw 13 0 0 13 85.0394 776.3179 Tm [(As)12.2 ( at)12.2 ( 3)12.2 (0)12.3 ( June)12.2 ( 2)12.2 (0)12.3 (2)12.2 (0)12.2 ( and)12.2 ( 3)12.2 (1)12.3 ( December)12.2 ( 2)12.2 (0)12.3 (1)12.2 (9)12.3 (,)12.2 ( cash)12.3 ( and)12.3 ( cash)12.2 ( equivalents)12.3 ( of)12.2 ( the)25 ( )]TJ 0.067 Tc 0 -1.231 TD [(G)0.5 (r)0.5 (o)0.6 (u)0.5 (p)13 ( )0.5 (a)0.6 (m)0.5 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (e)0.5 (d)13.1 ( )0.5 (t)0.5 (o)13 ( )0.6 (R)0.5 (M)0.5 (B)13 (2)13 (,)13 (2)13.1 (0)13 (7)13 (,)13 (2)13 (1)13 (6)13 ( )0.6 (t)0.5 (h)0.5 (o)0.5 (u)0.5 (s)0.6 (a)0.5 (n)0.5 (d)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (R)0.5 (M)0.6 (B)13 (1)13 (,)13 (3)13 (2)13 (8)13.1 (,)13 (1)13 (0)13 (4)13 ( )0.5 (t)0.6 (h)0.5 (o)0.5 (u)0.5 (s)0.5 (a)0.6 (n)0.5 (d)0.5 (,)42 ( )]TJ 0.025 Tc -0.025 Tw T* (respectively.)Tj /T1_1 1 Tf 0 Tw -2.181 -2.462 Td [(10. )-580.5 (Income tax expenses)]TJ /T1_0 1 Tf 0.083 Tw 2.181 -2.462 Td [(During )0.5 (the Reporting )0.5 (Period, )0.5 (income )0.5 (tax )0.5 (of )0.5 (the Group )0.5 (amounted )0.5 (to )0.5 (RMB33,715 )]TJ 0.066 Tc 0.07 Tw 0 -1.231 TD [(thousand,)12.8 ( representing)12.8 ( a)12.8 ( decrease)12.8 ( of)12.8 ( RMB)12.8 (5)12.7 (6)12.8 (,)12.8 (8)12.8 (0)12.8 (3)12.7 ( thousand)12.8 ( as)12.8 ( compared)12.8 ( to)41 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 TD (RMB90,518 thousand for the six months ended 30 June 2019, which was main\ly )Tj 0 Tw T* (due to a decrease in profit before tax during the Reporting Period.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(11. )-580.5 (Capital expenditure)]TJ /T1_0 1 Tf 0.057 Tw 2.181 -2.462 Td (During the Reporting Period, capital expenditure of the Group was RMB399\,200 )Tj 0.058 Tc 0.07 Tw T* [(thousand,)12.7 ( representing)12.7 ( a)12.8 ( decrease)12.7 ( of)12.7 ( RMB)12.7 (1)12.7 (6)12.6 (9)12.7 (,)12.7 (7)12.7 (7)12.7 (1)12.6 ( thousand)12.7 ( as)12.7 ( compared)12.7 ( to)33 ( )]TJ 0.055 Tc T* [(RMB)12.8 (5)12.9 (6)12.9 (8)12.9 (,)12.9 (9)12.8 (7)12.9 (1)12.9 ( thousand)12.9 ( for)12.9 ( the)12.9 ( six)12.8 ( months)12.9 ( ended)12.8 ( 3)12.9 (0)12.9 ( June)12.9 ( 2)12.8 (0)12.9 (1)12.9 (9)12.9 (.)12.8 ( The)12.9 ( Group\222s)30 ( )]TJ 0.029 Tc 0.079 Tw T* [(c)0.5 (a)0.5 (p)0.6 (i)0.5 (t)0.5 (a)0.5 (l)4 ( )0.5 (e)0.5 (x)0.5 (p)0.6 (e)0.5 (n)0.5 (d)0.5 (i)0.5 (t)0.5 (u)0.5 (r)0.6 (e)0.5 (s)4 ( )0.5 (m)0.5 (a)0.5 (i)0.5 (n)0.6 (l)0.5 (y)4 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (s)0.5 (i)0.5 (s)0.6 (t)4 ( )0.5 (o)0.5 (f)4 ( )0.5 (e)0.5 (x)0.5 (p)0.6 (e)0.5 (n)0.5 (d)0.5 (i)0.5 (t)0.5 (u)0.5 (r)0.5 (e)0.6 (s)4 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (u)0.5 (r)0.6 (r)0.5 (e)0.5 (d)4 ( )0.5 (f)0.5 (o)0.5 (r)4.1 ( )0.5 (t)0.5 (h)0.5 (e)4 ( )0.5 (p)0.5 (u)0.5 (r)0.5 (c)0.6 (h)0.5 (a)0.5 (s)0.5 (e)4 ( )0.5 (o)0.6 (f)3.9 ( )]TJ 0.025 Tc 0.036 Tw T* (property, plant and equipment, expenditures incurred in respect of the i\ncrease in )Tj 0.073 Tw T* (prepaid land lease payments and additions to other intangible assets. Fu\nds used )Tj 0.08 Tw T* (as capital expenditure of the Group were mainly sourced from bank borrow\ings, )Tj 0.078 Tw 0 -1.231 TD (proceeds from share issuance and cash flows generated from operating act\ivities )Tj 0 Tw 0 -1.231 TD (of the Group.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(12. )-580.5 (Interest-bearing bank and other borrowings)]TJ /T1_0 1 Tf 0.068 Tc 0.07 Tw 2.181 -2.462 Td [(As)12.3 ( at)12.3 ( 3)12.3 (0)12.2 ( June)12.3 ( 2)12.3 (0)12.3 (2)12.2 (0)12.3 (,)12.3 ( bank)12.3 ( and)12.3 ( other)12.3 ( borrowings)12.3 ( of)12.2 ( the)12.3 ( Group)12.3 ( amounted)12.3 ( to)43 ( )]TJ 0.025 Tc 0.004 Tw T* (RMB5,072,003 thousand \(31 December 2019: RMB3,425,658 thousand\). As at\ 30 )Tj 0.026 Tw T* (June 2020, the balance of liability in convertible bonds of the Group am\ounted to )Tj 0.083 Tw T* [(RMB780,423 )0.5 (thousand )0.5 (\(31 )0.5 (December )0.5 (2019: )0.5 (RMB762,355 )0.5 (thousand\), )0.5 (which )0.5 (will )]TJ 0 Tw T* (fall due on 21 December 2023.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(13. )-580.5 (Restricted assets)]TJ /T1_0 1 Tf 0.083 Tw 2.181 -2.462 Td [(As at )0.5 (30 )0.5 (June )0.5 (2020, )0.5 (assets )0.5 (with )0.5 (a )0.5 (total )0.5 (carrying )0.5 (value of )0.5 (RMB576,421 )0.5 (thousand )]TJ 0.088 Tc 0.07 Tw T* [(\()12.7 (3)12.7 (1)12.7 ( December)12.7 ( 2)12.6 (0)12.7 (1)12.7 (9)12.7 (:)12.7 ( RMB)12.7 (4)12.7 (3)12.7 (0)12.7 (,)12.7 (3)12.6 (9)12.7 (7)12.7 ( thousand\))12.7 ( of)12.7 ( the)12.7 ( Group)12.7 ( were)12.7 ( used)12.7 ( as)63 ( )]TJ 0.025 Tc 0.049 Tw 0 -1.231 TD (collateral for bank borrowings and other bank facilities, and such asset\s included )Tj 0.038 Tc 0.07 Tw 0 -1.231 TD [(pledged)12.6 ( deposits)12.6 ( and)12.6 ( bills)12.7 ( receivables)12.6 ( of)12.6 ( RMB)12.6 (5)12.6 (5)12.6 (5)12.6 (,)12.6 (9)12.7 (1)12.6 (0)12.6 ( thousand)12.6 ( \()12.6 (3)12.6 (1)12.6 ( December)13 ( )]TJ 0.036 Tc 0.083 Tw T* [(2019: R)-12.9 (M)-12.8 (B371,826 t)-12.9 (h)-12.8 (o)-12.9 (u)-12.8 (s)-12.9 (a)-12.8 (n)-12.9 (d)-12.8 (\) a)-12.9 (n)-12.8 (d R)-12.9 (M)-12.8 (B20,511 t)-12.9 (h)-12.8 (o)-12.9 (u)-12.8 (s)-12.8 (a)-12.9 (n)-12.8 (d \(31 D)-12.9 (e)-12.8 (c)-12.8 (e)-12.9 (m)-12.8 (b)-12.9 (e)-12.8 (r 2019:)11 ( )]TJ 0.025 Tc 0 Tw T* (RMB58,571 thousand\), respectively.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(14. )-580.5 (Gearing ratio)]TJ /T1_0 1 Tf 0.013 Tw 2.181 -2.462 Td (As at 30 June 2020, the Group\222s gearing ratio, defined as net debt di\vided by sum )Tj 0 Tw T* (of capital and net debt, was 48.40%, increased by 7.57% from 31 December\ 2019.)Tj ET endstreamendobj81 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 42 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(8. )-1105.5 (Cash flows)]TJ 7.8 0 0 13 186.9524 744.409 Tm (For the )Tj -1.521 -1.231 Td (six months )Tj -0.025 Tw 2.153 -1.231 Td (ended)Tj 0 Tw -3.175 -1.231 Td (30 June 2020)Tj /T1_0 1 Tf 10.815 3.692 Td (For the )Tj -1.576 -1.231 Td (six months )Tj -0.025 Tw 2.099 -1.231 Td (ended)Tj 0 Tw -3.12 -1.231 Td (30 June 2019)Tj /T1_1 1 Tf -0.025 Tw 10.2 0 Td (Change)Tj 0 Tw 4.857 0 Td (Reason of material change)Tj -0.025 Tw 7.8 0 3.4833 13 177.5999 680.409 Tm (RMB\222000)Tj /T1_0 1 Tf 8.105 0 Td (RMB\222000)Tj 0 Tc 0 Tw 11.368 0 Td (%)Tj 0.025 Tc 7.8 0 0 13 85.0393 648.409 Tm (Net cash flows )Tj -0.025 Tw 1.672 -1.231 Td (from/\(used )Tj 0 Tw 0 -1.231 TD (in\) operating )Tj -0.025 Tw T* (activities)Tj /T1_1 1 Tf 11.282 3.692 Td (189,779)Tj /T1_0 1 Tf 7.995 0 Td (194,388)Tj 9.212 0 Td (-2.37)Tj 0 Tw 3.637 0 Td (Mainly due to an decrease in cash received from sales )Tj T* (of goods and provision of labor services during the )Tj T* (Reporting Period)Tj -33.798 -2.462 Td (Net cash flows used )Tj 1.672 -1.231 Td (in investing )Tj -0.025 Tw T* (activities)Tj /T1_1 1 Tf 10.899 2.462 Td (\(677,926\))Tj /T1_0 1 Tf 7.195 0 Td (\(1,463,470\))Tj 9.87 0 Td (-53.68)Tj 0 Tw 4.162 0 Td (Mainly due to an decrease in cash paid for investment )Tj T* (during the Reporting Period)Tj -33.798 -2.462 Td (Net cash flows )Tj -0.025 Tw 1.672 -1.231 Td (from/\(used )Tj 0 Tw T* (in\) financing )Tj -0.025 Tw T* (activities)Tj /T1_1 1 Tf 10.482 3.692 Td (1,355,182)Tj /T1_0 1 Tf 7.995 0 Td (1,010,063)Tj 9.845 0 Td (34.17)Tj 0 Tw 3.804 0 Td (Mainly due to an increase in cash received from )Tj T* (borrowings during the Reporting Period)Tj /T1_1 1 Tf 13 0 0 13 56.6929 458.0599 Tm [(9. )-1105.5 (Financial position)]TJ /T1_0 1 Tf 0.054 Tc 0.07 Tw 2.181 -2.462 Td [(Non-current)12.3 ( assets)12.2 ( increased)12.2 ( by)12.2 ( RMB)12.3 (5)12.2 (6)12.3 (7)12.2 (,)12.3 (9)12.2 (2)12.3 (8)12.3 ( thousand)12.3 ( from)12.3 ( RMB)12.2 (8)12.3 (,)12.2 (4)12.3 (9)12.3 (6)12.2 (,)12.3 (0)12.2 (0)12.3 (1)29 ( )]TJ 0.025 Tc 0.018 Tw T* (thousand as at 31 December 2019 to RMB9,063,929 thousand as at 30 June 2\020, )Tj 0.044 Tc 0.07 Tw T* [(which)12.4 ( was)12.4 ( mainly)12.4 ( due)12.4 ( to)12.3 ( the)12.4 ( increase)12.4 ( in)12.4 ( financial)12.4 ( assets)12.4 ( at)12.4 ( fair)12.4 ( value)12.4 ( through)19 ( )]TJ 0.025 Tc 0 Tw T* (profit or loss and other long-term assets. )Tj 0.073 Tc 0.07 Tw 0 -2.462 TD [(Current)12.8 ( assets)12.8 ( increased)12.9 ( by)12.9 ( RMB)12.8 (1)12.9 (,)12.8 (2)12.8 (2)12.9 (9)12.8 (,)12.9 (9)12.8 (5)12.8 (9)12.9 ( thousand)12.8 ( from)12.8 ( RMB)12.9 (5)12.8 (,)12.9 (7)12.8 (1)12.8 (7)12.9 (,)12.8 (0)12.8 (3)12.9 (1)48 ( )]TJ 0.025 Tc 0.018 Tw 0 -1.231 TD (thousand as at 31 December 2019 to RMB6,946,990 thousand as at 30 June 2\020, )Tj 0.009 Tw T* [(which )0.5 (was )0.5 (mainly due )0.5 (to )0.5 (the )0.5 (increase )0.5 (in )0.5 (cash )0.5 (and cash )0.5 (equivalents, )0.5 (trade and )0.5 (bills )]TJ -0.025 Tw T* (receivables.)Tj 0.048 Tc 0.07 Tw 0 -2.462 TD [(Current)12.5 ( liabilities)12.6 ( increased)12.5 ( by)12.6 ( RMB)12.5 (1)12.6 (,)12.5 (2)12.5 (7)12.6 (1)12.5 (,)12.6 (0)12.5 (7)12.5 (6)12.6 ( thousand)12.5 ( from)12.5 ( RMB)12.5 (3)12.6 (,)12.5 (2)12.5 (5)12.6 (8)12.5 (,)12.5 (8)12.6 (5)12.5 (7)23 ( )]TJ 0.059 Tc 0 -1.231 TD [(thousand)12.1 ( as)12.1 ( at)12.1 ( 3)12.1 (1)12.1 ( December)12.1 ( 2)12.1 (0)12.1 (1)12.1 (9)12.1 ( to)12.1 ( RMB)12.2 (4)12.1 (,)12.1 (5)12.1 (2)12.1 (9)12.1 (,)12.1 (9)12.1 (3)12.2 (3)12.1 ( thousand)12.1 ( as)12.2 ( at)12.1 ( 3)12.2 (0)12.1 ( June)34 ( )]TJ 0.04 Tc T* [(2)13 (0)12.9 (2)13 (0)13 (,)12.9 ( )0.5 (w)0.5 (hi)0.5 (c)0.5 (h)12.9 ( )0.5 (w)0.5 (a)0.5 (s)12.9 ( )0.5 (m)0.5 (a)0.5 (in)0.5 (ly)13 ( )0.5 (du)0.5 (e)13 ( )0.5 (to)13 ( t)0.5 (h)0.5 (e)13 ( i)0.5 (nc)0.5 (r)0.5 (e)0.5 (a)0.5 (se)13 ( )0.5 (in)13 ( )0.5 (in)0.5 (t)0.5 (er)0.5 (e)0.5 (s)0.5 (t-)0.5 (b)0.5 (ea)0.5 (r)0.5 (i)0.5 (ng)13 ( )0.5 (ba)0.5 (n)0.5 (k)12.9 ( )0.5 (a)0.5 (nd)13 ( )0.5 (ot)0.5 (h)0.5 (er)15 ( )]TJ 0.025 Tc 0 Tw T* (borrowings, other payables and accruals.)Tj 0.027 Tc 0.081 Tw 0 -2.462 TD [(Non-current)2 ( )0.5 (liabilities)2 ( )0.5 (increased)2 ( )0.5 (by)2 ( )0.5 (RMB)2 (6)2 (7)2 (5)2 (,)2 (5)2 (4)2 (3)2 ( )0.5 (thousand)2 ( )0.5 (from)1.9 ( )0.5 (RMB)2 (2)2 (,)2 (5)2 (4)2 (3)2 (,)2 (8)2 (9)2 (4)2 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.231 TD [(thousand)12.1 ( as)12.1 ( at)12.1 ( 3)12.1 (1)12.1 ( December)12.1 ( 2)12.1 (0)12.1 (1)12.1 (9)12.1 ( to)12.1 ( RMB)12.2 (3)12.1 (,)12.1 (2)12.1 (1)12.1 (9)12.1 (,)12.1 (4)12.1 (3)12.2 (7)12.1 ( thousand)12.1 ( as)12.2 ( at)12.1 ( 3)12.2 (0)12.1 ( June)34 ( )]TJ 0.04 Tc T* [(2)13 (0)12.9 (2)13 (0)13 (,)12.9 ( )0.5 (w)0.5 (hi)0.5 (c)0.5 (h)12.9 ( )0.5 (w)0.5 (a)0.5 (s)12.9 ( )0.5 (m)0.5 (a)0.5 (in)0.5 (ly)13 ( )0.5 (du)0.5 (e)13 ( )0.5 (to)13 ( t)0.5 (h)0.5 (e)13 ( i)0.5 (nc)0.5 (r)0.5 (e)0.5 (a)0.5 (se)13 ( )0.5 (in)13 ( )0.5 (in)0.5 (t)0.5 (er)0.5 (e)0.5 (s)0.5 (t-)0.5 (b)0.5 (ea)0.5 (r)0.5 (i)0.5 (ng)13 ( )0.5 (ba)0.5 (n)0.5 (k)12.9 ( )0.5 (a)0.5 (nd)13 ( )0.5 (ot)0.5 (h)0.5 (er)15 ( )]TJ 0.025 Tc -0.025 Tw T* (borrowings.)Tj 0.06 Tc 0.07 Tw 0 -2.462 TD [(As)13 ( at)13 ( 3)12.9 (0)13 ( June)13 ( 2)12.9 (0)13 (2)12.9 (0)12.9 ( a)0.5 (nd)12.9 ( )0.5 (3)12.9 (1)12.9 ( D)0.5 (ece)0.5 (mbe)0.5 (r)12.9 ( 2)13 (0)12.9 (1)12.9 (9)12.9 (,)13 ( ne)0.5 (t)12.9 ( cu)0.5 (rre)0.5 (nt)12.9 ( a)0.5 (sse)0.5 (ts)12.9 ( )0.5 (of)12.9 ( )0.5 (the)12.9 ( )0.5 (Gro)0.5 (up)35 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.231 TD (amounted to RMB2,417,057 thousand and RMB2,458,174 thousand, respectivel\y; )Tj 0.053 Tc 0.07 Tw T* [(net)12.2 ( assets)12.1 ( amounted)12.2 ( to)12.2 ( RM)12.1 (8)12.2 (,)12.1 (2)12.2 (6)12.1 (1)12.2 (,)12.1 (5)12.2 (4)12.1 (9)12.1 ( thousand)12.2 ( and)12.2 ( RMB)12.2 (8)12.1 (,)12.1 (4)12.2 (1)12.1 (0)12.2 (,)12.1 (2)12.2 (8)12.1 (1)12.2 ( thousand,)28 ( )]TJ 0.025 Tc -0.025 Tw T* (respectively.)Tj ET endstreamendobj80 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 41 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177.5999 680.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 8.105 0 Td (RMB\222000)Tj 0 Tc 0 Tw 11.368 0 Td (%)Tj 0.025 Tc 7.8 0 0 13 85.0393 648.4089 Tm (Selling and )Tj -0.025 Tw 1.672 -1.231 Td (distribution )Tj 0 -1.231 TD (expenses)Tj /T1_1 1 Tf 11.807 2.462 Td (26,308)Tj /T1_0 1 Tf 7.995 0 Td (51,842)Tj 8.162 0 Td (-49.25)Tj 0 Tw 4.162 0 Td (Primarily consisting of employee benefit expenses, )Tj 1.018 -1.231 Td (transportation expenses, warehouse and port expenses, )Tj T* (rental expenses, sales commission, travel expenses )Tj T* (and others. The decrease in selling and distribution )Tj T* (expenses during the Reporting Period was mainly due )Tj T* (to the transportation services provided by Ganfeng )Tj T* (Transportation to the group companies during the )Tj 0 -1.231 TD (Reporting Period were not included in the accounting )Tj 0 -1.231 TD (of selling and distribution expenses)Tj -0.025 Tw -34.815 -1.231 Td (Administrative )Tj 1.672 -1.231 Td (expenses)Tj /T1_1 1 Tf 11.282 1.231 Td (106,718)Tj /T1_0 1 Tf 7.995 0 Td (230,077)Tj 8.687 0 Td (-53.62)Tj 0.024 Tc 0 Tw 4.162 0 Td [(Primarily consisting of employee benefit expenses, office)-1 ( )]TJ 0.025 Tc 1.018 -1.231 Td (expenses, travel expenses, intermediary fees, R&D )Tj T* (expenses, bank service expenses and others as well as )Tj T* (depreciation and amortization of assets. The decrease )Tj 0.024 Tc T* [(in administrative expenses during the Reporting Period)-1 ( )]TJ 0.025 Tc T* (was mainly due to the equity incentive fees generated )Tj T* (at the same period of last year, while no such fee was )Tj T* (incurred during the Reporting Period)Tj -34.815 -1.231 Td (Other expenses)Tj /T1_1 1 Tf -0.025 Tw 12.954 0 Td (164,000)Tj /T1_0 1 Tf 7.995 0 Td (159,188)Tj 9.57 0 Td (3.02)Tj 0 Tw 3.279 0 Td (Primarily consisting of net loss on changes in fair value )Tj 1.018 -1.231 Td (of investments at fair value through profit or loss, cost )Tj T* (for sales of raw materials, impairment loss, loss on )Tj 0 -1.231 TD (disposal of property, plant and equipment and others. )Tj 0 -1.231 TD (There was no significant change for the Reporting )Tj T* (Period as compared to the same period of last year)Tj -34.815 -1.231 Td (Finance costs)Tj /T1_1 1 Tf -0.025 Tw 12.954 0 Td (120,880)Tj /T1_0 1 Tf 8.52 0 Td (95,886)Tj 8.52 0 Td (26.07)Tj 0 Tw 3.804 0 Td (Primarily consisting of interest expense on bank )Tj 1.018 -1.231 Td (borrowings, interest expense on convertible bonds and )Tj T* (interest expense on discounted bills. The increase in )Tj T* (finance costs during the Reporting Period was mainly )Tj T* (due to an increase in interest expenses on borrowings)Tj ET endstreamendobj88 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 39 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(3. )-1105.5 (Gross profit and gross profit margin)]TJ /T1_0 1 Tf 0.056 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.4 ( gross)12.3 ( profit)12.4 ( margin)12.4 ( of)12.3 ( the)12.4 ( Group)12.3 ( for)12.3 ( the)12.4 ( Reporting)12.3 ( Period)12.3 ( was)12.4 ( 1)12.4 (9)12.3 (.)12.4 (4)12.3 (5)12.4 (%,)31 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 TD [(representing)5 ( )0.5 (a)5 ( )0.5 (decrease)5 ( )0.5 (of)5.1 ( )0.5 (5)4.9 (.)5 (8)5 (2)5 (%)5 ( )0.5 (as)5 ( )0.5 (compared)5 ( )0.5 (with)4.9 ( )0.6 (2)5 (5)5 (.)5 (2)4.9 (7)5.1 (%)5 ( )0.5 (as)5 ( )0.5 (at)5 ( )0.5 (3)5 (0)5 ( )0.5 (June)5 ( )0.5 (2)5 (0)5 (1)5 (9)5 (,)5 ( )]TJ 0.025 Tc 0 Tw T* (mainly due to the continued decline in the market price of lithium salts\.)Tj 0 -2.462 TD (By products:)Tj /T1_1 1 Tf 11.7 0 0 13 256.7353 648.4089 Tm (For the six months ended )Tj 2.761 -1.231 Td (30 June 2020)Tj /T1_0 1 Tf 10.171 1.231 Td (For the six months ended )Tj 2.539 -1.231 Td (30 June 2019)Tj /T1_1 1 Tf -0.025 Tw 11.7 0 3.4833 13 265.6495 616.4089 Tm (RMB\222000)Tj 0 Tc 0 Tw 9.615 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.093 0 Td (RMB\222000)Tj 0 Tc 0 Tw 11.7 0 0 13 528.8367 616.4089 Tm (%)Tj 0.025 Tc -37.931 -2.462 Td (Lithium metal and lithium )Tj -0.025 Tw 1.114 -1.231 Td (compound)Tj /T1_1 1 Tf 15.352 0 Td (362,739)Tj 7.349 0 Td (20.37)Tj /T1_0 1 Tf 5.249 0 Td (649,723)Tj 7.349 0 Td (28.74)Tj 0 Tw -36.414 -1.231 Td (Lithium battery)Tj /T1_1 1 Tf -0.025 Tw 16.992 0 Td (65,505)Tj 6.824 0 Td (15.82)Tj /T1_0 1 Tf 5.774 0 Td (22,345)Tj 7.349 0 Td (8.39)Tj -36.939 -1.231 Td (Others )Tj 11.7 0 3.4833 13 119.8693 536.4089 Tm (\(Note\))Tj /T1_1 1 Tf 11.7 0 0 13 283.8428 536.4089 Tm (33,524)Tj 6.824 0 Td (18.60)Tj /T1_0 1 Tf 5.774 0 Td (36,117)Tj 6.824 0 Td (13.11)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 255.1181 531.9989 cm 0 0 m 62.362 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 249.4488 533.3999 Tm ( )Tj ET q 1 0 0 1 328.8188 531.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1495 533.3999 Tm ( )Tj ET q 1 0 0 1 402.5196 531.9989 cm 0 0 m 62.362 0 l S Q BT /T1_0 1 Tf 13 0 0 13 396.8503 533.3999 Tm ( )Tj ET q 1 0 0 1 476.2204 531.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5511 533.3999 Tm ( )Tj 0.025 Tc -0.025 Tw 11.7 0 0 13 85.0393 501.3999 Tm (Total)Tj /T1_1 1 Tf 16.467 0 Td (461,768)Tj 7.349 0 Td (19.45)Tj /T1_0 1 Tf 5.249 0 Td (708,185)Tj 7.349 0 Td (25.27)Tj ET 2.5 w q 1 0 0 1 255.118 495.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.118 492.5028 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4487 493.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8188 495.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8188 492.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1495 493.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5196 495.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5196 492.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8503 493.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2203 495.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 492.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5511 493.7363 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 83.9104 465.3872 Tm (Note:)Tj 0.064 Tc 0.07 Tw 11 0 0 11 110.8559 465.3872 Tm [( )154 (Including)12.4 ( NCM)12.4 ( precursors,)12.4 ( lithium)12.4 ( oxide,)12.4 ( lithium)12.4 ( dihydrogen)12.4 ( phosphate)12.4 ( and)12.4 ( other)39 ( )]TJ 0.025 Tc -0.025 Tw 0.23 -1.273 Td (products.)Tj /T1_1 1 Tf 0 Tw 13 0 0 13 56.6928 419.3872 Tm [(4. )-1105.5 (Other income and gains)]TJ /T1_0 1 Tf 0.063 Tc 0.07 Tw 2.181 -2.462 Td [(Other)12.7 ( income)12.7 ( and)12.7 ( gains)12.7 ( of)12.7 ( the)12.7 ( Group)12.7 ( mainly)12.6 ( consist)12.7 ( of)12.7 ( investment)12.7 ( income)38 ( )]TJ 0.025 Tc 0.006 Tw 0 -1.231 TD (generated from disposal of financial assets, government grants, income f\rom sales )Tj 0.002 Tw T* (of raw materials and interest income. Other income and gains of the Grou\p for the )Tj 0.037 Tc 0.071 Tw T* [(R)0.5 (e)0.6 (p)0.5 (o)0.6 (r)0.5 (t)0.6 (i)0.5 (n)0.5 (g)12 ( )0.5 (P)0.6 (e)0.5 (r)0.6 (i)0.5 (o)0.6 (d)11.9 ( )0.6 (a)0.5 (m)0.6 (o)0.5 (u)0.5 (n)0.6 (t)0.5 (e)0.5 (d)12 ( )0.5 (t)0.6 (o)12 ( )0.5 (R)0.5 (M)0.6 (B)12 (1)12 (3)12 (4)12 (,)12 (1)12 (3)12 (8)12 ( )0.5 (t)0.6 (h)0.5 (o)0.5 (u)0.6 (s)0.5 (a)0.6 (n)0.5 (d)0.6 (,)11.9 ( )0.6 (r)0.5 (e)0.6 (p)0.5 (r)0.5 (e)0.6 (s)0.5 (e)0.6 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (g)12 ( )0.5 (a)0.6 (n)12 ( )0.5 (i)0.5 (n)0.6 (c)0.5 (r)0.6 (e)0.5 (a)0.6 (s)0.5 (e)12 ( )]TJ 0.047 Tc 0.07 Tw T* [(of)12.6 ( RMB)12.6 (1)12.6 (0)12.5 (,)12.6 (3)12.6 (9)12.6 (3)12.5 ( thousand)12.5 ( as)12.6 ( compared)12.6 ( to)12.5 ( RMB)12.6 (1)12.5 (2)12.6 (3)12.6 (,)12.6 (7)12.5 (4)12.6 (5)12.6 ( thousand)12.6 ( as)12.5 ( at)12.6 ( 3)12.5 (0)12.6 ( June)22 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.231 TD (2019, which was mainly due to the increase in investment income generate\d from )Tj 0 Tw 0 -1.231 TD (disposal of financial assets during the Reporting Period.)Tj ET endstreamendobj87 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 38 \226)Tj -0.025 Tw 11 0 2.9474 11 112.2569 777.6839 Tm (Note: )Tj 0.029 Tc 0.079 Tw 11 0 0 11 141.7323 777.6839 Tm [(Including)4 ( )0.5 (NCM)4 ( )0.5 (precursors,)4 ( )0.5 (lithium)4 ( )0.6 (oxide,)4 ( )0.5 (lithium)4 ( )0.5 (dihydrogen)4 ( )0.5 (phosphate)4 ( )0.5 (and)4 ( )0.5 (other)4 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.273 TD (products.)Tj 0 Tw 13 0 0 13 113.3858 731.684 Tm (By sales regions:)Tj /T1_1 1 Tf 11.7 0 0 13 256.7353 699.684 Tm (For the six months ended )Tj 2.761 -1.231 Td (30 June 2020)Tj /T1_0 1 Tf 10.171 1.231 Td (For the six months ended )Tj 2.539 -1.231 Td (30 June 2019)Tj /T1_1 1 Tf -0.025 Tw 11.7 0 3.4833 13 265.6495 667.684 Tm (RMB\222000)Tj 0 Tc 0 Tw 9.615 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.093 0 Td (RMB\222000)Tj 0 Tc 0 Tw 11.7 0 0 13 528.8367 667.684 Tm (%)Tj 0.025 Tc -0.025 Tw -35.509 -2.462 Td (China)Tj /T1_1 1 Tf 13.244 0 Td (1,482,652)Tj 8.149 0 Td (62.44)Tj /T1_0 1 Tf 4.449 0 Td (1,771,217)Tj 8.149 0 Td (63.21)Tj -33.992 -1.231 Td (Overseas)Tj /T1_1 1 Tf 14.044 0 Td (891,954)Tj 7.349 0 Td (37.56)Tj /T1_0 1 Tf 4.449 0 Td (1,031,022)Tj 8.149 0 Td (36.79)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 255.1181 615.2739 cm 0 0 m 62.362 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 249.4488 616.6749 Tm ( )Tj ET q 1 0 0 1 328.8189 615.2739 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1496 616.6749 Tm ( )Tj ET q 1 0 0 1 402.5197 615.2739 cm 0 0 m 62.362 0 l S Q BT /T1_0 1 Tf 13 0 0 13 396.8504 616.6749 Tm ( )Tj ET q 1 0 0 1 476.2205 615.2739 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 616.6749 Tm ( )Tj 0.025 Tc -0.025 Tw 11.7 0 0 13 113.3858 584.6749 Tm (Total)Tj /T1_1 1 Tf 13.244 0 Td (2,374,606)Tj 7.624 0 Td (100.00)Tj /T1_0 1 Tf 4.974 0 Td (2,802,239)Tj 7.624 0 Td (100.00)Tj ET 2.5 w q 1 0 0 1 255.1181 579.1104 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 575.7778 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 577.0114 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8189 579.1104 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.819 575.7778 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 577.0114 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5197 579.1104 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5198 575.7778 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 577.0114 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2205 579.1104 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2206 575.7778 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 577.0114 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 13 0 3.4833 13 83.7053 548.1543 Tm [(2\) )-1022.5 (Analysis of operating cost by products)]TJ /T1_0 1 Tf 13 0 0 13 113.3859 516.1543 Tm (By products:)Tj /T1_1 1 Tf 11.7 0 0 13 256.7354 484.1543 Tm (For the six months ended )Tj 2.761 -1.231 Td (30 June 2020)Tj /T1_0 1 Tf 10.171 1.231 Td (For the six months ended )Tj 2.539 -1.231 Td (30 June 2019)Tj /T1_1 1 Tf -0.025 Tw 11.7 0 3.4833 13 265.6497 452.1543 Tm (RMB\222000)Tj 0 Tc 0 Tw 9.615 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.093 0 Td (RMB\222000)Tj 0 Tc 0 Tw 11.7 0 0 13 528.8368 452.1543 Tm (%)Tj 0.025 Tc -35.509 -2.462 Td (Lithium metal and lithium )Tj -0.025 Tw 1.114 -1.231 Td (compound)Tj /T1_1 1 Tf 12.13 0 Td (1,417,586)Tj 8.149 0 Td (74.11)Tj /T1_0 1 Tf 4.449 0 Td (1,610,627)Tj 8.149 0 Td (76.91)Tj 0 Tw -33.992 -1.231 Td (Lithium battery)Tj /T1_1 1 Tf -0.025 Tw 14.044 0 Td (348,531)Tj 7.349 0 Td (18.22)Tj /T1_0 1 Tf 5.249 0 Td (244,024)Tj 7.349 0 Td (11.65)Tj -33.992 -1.231 Td (Others )Tj 11.7 0 3.4833 13 148.2159 372.1543 Tm (\(Note\))Tj /T1_1 1 Tf 11.7 0 0 13 277.7005 372.1543 Tm (146,721)Tj 7.874 0 Td (7.67)Tj /T1_0 1 Tf 4.724 0 Td (239,403)Tj 7.349 0 Td (11.44)Tj ET 0.5 w q 1 0 0 1 255.1182 367.7442 cm 0 0 m 62.362 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 249.4489 369.1452 Tm ( )Tj ET q 1 0 0 1 328.819 367.7442 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 369.1452 Tm ( )Tj ET q 1 0 0 1 402.5198 367.7442 cm 0 0 m 62.362 0 l S Q BT /T1_0 1 Tf 13 0 0 13 396.8505 369.1452 Tm ( )Tj ET q 1 0 0 1 476.2206 367.7442 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5513 369.1452 Tm ( )Tj 0.025 Tc -0.025 Tw 11.7 0 0 13 113.3859 337.1452 Tm (Total)Tj /T1_1 1 Tf 13.244 0 Td (1,912,838)Tj 7.624 0 Td (100.00)Tj /T1_0 1 Tf 4.974 0 Td (2,094,054)Tj 7.624 0 Td (100.00)Tj ET 2.5 w q 1 0 0 1 255.1183 331.5806 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1183 328.2481 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.449 329.4816 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8191 331.5806 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8191 328.2481 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1498 329.4816 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5199 331.5806 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5199 328.2481 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8506 329.4816 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2206 331.5806 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2207 328.2481 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5514 329.4816 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 112.2572 301.1326 Tm (Note:)Tj 0.029 Tc 0.079 Tw 11 0 0 11 139.2027 301.1326 Tm [( )128 (Including)4 ( )0.5 (NCM)4 ( )0.5 (precursors,)4 ( )0.5 (lithium)4 ( )0.5 (oxide,)4 ( )0.5 (lithium)4 ( )0.5 (dihydrogen)4 ( )0.5 (phosphate)4 ( )0.5 (and)4 ( )0.5 (other)4 ( )]TJ 0.025 Tc -0.025 Tw 0.23 -1.273 Td (products.)Tj ET endstreamendobj86 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 37 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (FINANCIAL REVIEW)Tj 1.106 Tw 0 -2.462 TD [(1. )0.5 (Overview)]TJ /T1_0 1 Tf 0.038 Tc 0.07 Tw 2.181 -2.462 Td [(During)12.9 ( the)12.9 ( Reporting)12.9 ( Period,)12.9 ( the)12.9 ( Group\222s)12.9 ( revenue)12.9 ( amounted)12.9 ( to)12.8 ( RMB)12.9 (2)12.9 (,)12.8 (3)12.9 (7)12.9 (4)12.9 (,)12.9 (6)12.8 (0)12.9 (6)13 ( )]TJ 0.058 Tc 0 -1.231 TD [(thousand,)12.7 ( representing)12.7 ( a)12.8 ( decrease)12.7 ( of)12.7 ( RMB)12.7 (4)12.7 (2)12.6 (7)12.7 (,)12.7 (6)12.7 (3)12.7 (3)12.7 ( thousand)12.7 ( as)12.7 ( compared)12.7 ( to)33 ( )]TJ 0.025 Tc 0.064 Tw T* (RMB2,802,239 thousand as at 30 June 2019. The Group\222s gross profit am\ounted )Tj 0.035 Tc 0.073 Tw 0 -1.231 TD [(to)10 ( )0.5 (RMB)10 (4)10 (6)10 (1)10 (,)10 (7)10 (6)10 (8)10 ( )0.5 (thousand,)10 ( )0.5 (representing)10 ( )0.5 (a)10 ( )0.6 (decrease)10 ( )0.5 (of)10 ( )0.5 (RMB)10 (2)10 (4)10 (6)10.1 (,)10 (4)10 (1)10 (7)10 ( )0.5 (thousand)10 ( )0.5 (as)10 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 TD [(c)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (r)0.5 (e)0.5 (d)13 ( )0.6 (t)0.5 (o)13 ( )0.5 (R)0.6 (M)0.5 (B)13 (7)13.1 (0)13 (8)13 (,)13 (1)13.1 (8)13 (5)13 ( )0.5 (t)0.6 (h)0.5 (o)0.5 (u)0.5 (s)0.6 (a)0.5 (n)0.5 (d)13.1 ( )0.5 (a)0.5 (s)13.1 ( )0.5 (a)0.5 (t)13.1 ( )0.5 (3)13 (0)13 ( )0.6 (J)0.5 (u)0.5 (n)0.5 (e)13.1 ( )0.5 (2)13 (0)13.1 (1)13 (9)13 (.)13 ( )0.6 (D)0.5 (u)0.5 (r)0.6 (i)0.5 (n)0.5 (g)13 ( )0.6 (t)0.5 (h)0.5 (e)13 ( )0.6 (R)0.5 (e)0.6 (p)0.5 (o)0.5 (r)0.5 (t)0.6 (i)0.5 (n)0.5 (g)20 ( )]TJ 0.025 Tc 0.002 Tw T* (Period, the Group\222s basic earnings per share were RMB0.12 \(six month\s ended 30 )Tj 0 Tw T* (June 2019: RMB0.23\).)Tj 0.044 Tc 0.07 Tw 0 -2.462 TD [(The)12.2 ( profit)12.2 ( attributable)12.2 ( to)12.2 ( the)12.2 ( owners)12.2 ( of)12.1 ( the)12.2 ( parent)12.2 ( company)12.2 ( for)12.2 ( the)12.1 ( Reporting)19 ( )]TJ 0.095 Tc 0 -1.231 TD [(Period)12.3 ( amounted)12.3 ( to)12.3 ( RMB)12.4 (1)12.3 (5)12.3 (7)12.3 (,)12.3 (6)12.4 (9)12.3 (6)12.3 ( thousand,)12.4 ( representing)12.3 ( a)12.4 ( decrease)12.3 ( of)70 ( )]TJ 0.028 Tc 0.08 Tw T* [(RMB)3 (1)3 (3)3 (9)3 (,)3 (5)3 (0)3 (5)3 ( )0.5 (thousand,)3 ( )0.5 (or)3 ( )0.5 (4)3 (6)3 (.)3 (9)3 (4)3 (%,)3 ( )0.5 (as)3 ( )0.5 (compared)3 ( )0.5 (to)3 ( )0.5 (RMB)3 (2)3 (9)3 (7)3 (,)3 (2)3 (0)3 (1)3 ( )0.5 (thousand)3 ( )0.5 (as)3 ( )0.5 (at)3 ( )]TJ 0.025 Tc 0.079 Tw T* (30 June 2019, which was mainly due to the decrease in gross profit as im\pacted )Tj 0.007 Tw T* (by the continuing decline in the market price of lithium salts during th\e Reporting )Tj -0.025 Tw T* (Period.)Tj /T1_1 1 Tf 0 Tw -2.181 -2.462 Td [(2. )-1105.5 (Analysis of revenue and cost)]TJ /T1_0 1 Tf 0.042 Tw 2.181 -2.462 Td (During the Reporting Period, the Group derived its revenue from sales of\ lithium )Tj 0.035 Tc 0.073 Tw T* [(compounds,)10 ( )0.5 (lithium)10 ( )0.5 (metals,)10 ( )0.5 (lithium)10 ( )0.6 (batteries)10 ( )0.5 (and)10 ( )0.5 (other)10.1 ( )0.5 (products.)10 ( )0.5 (Total)10.1 ( )0.5 (revenue)10 ( )]TJ 0.025 Tc 0.04 Tw T* (decreased by RMB427,633 thousand from RMB2,802,239 thousand as at 30 Jun\e )Tj 0.023 Tw T* (2019 to RMB2,374,606 thousand as at 30 June 2020. 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its)19 ( )]TJ 0.025 Tc 0.036 Tw T* (blue-chip customers, the Company integrates its products and/or services\ into the )Tj 0.007 Tw 0 -1.192 TD (principal business of its customers, so as to enhance the revenue contri\buted to its )Tj -0.025 Tw 0 -1.192 TD (customers.)Tj /T1_1 1 Tf 0 Tw -2.181 -2.385 Td [(7. )-1105.5 (Enhance capacities in business operation and management)]TJ /T1_0 1 Tf 0.054 Tc 0.07 Tw 2.181 -2.385 Td [(\225)29 ( )-1431.5 (Optimize)12.5 ( comprehensive)12.6 ( quality)12.6 ( monitoring)12.5 ( measures,)12.5 ( intensify)12.5 ( on-site)29 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.192 Td (management, and promote compliance of working safety rules;)Tj 0.103 Tc 0.07 Tw -2.181 -2.385 Td [(\225)78 ( )-1382.5 (Nurture)12.5 ( management)12.4 ( personnel,)12.5 ( replenish)12.4 ( personnel)12.5 ( reserve)12.5 ( with)78 ( )]TJ 0.076 Tc 2.181 -1.192 Td [(technologically-adept)12.3 ( and)12.3 ( veteran)12.3 ( employees,)12.3 ( and)12.3 ( enhance)12.3 ( technical)51 ( )]TJ 0.025 Tc 0 Tw T* 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research)12.7 ( and)12.8 ( development)25.1 ( )]TJ 0.055 Tc -0.055 Tw T* (\(\223)Tj /T1_1 1 Tf (R&D)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.2 ( and)12.1 ( industrialization)12.1 ( in)12.1 ( relation)12.1 ( to)12.1 ( a)12.2 ( new)12.1 ( generation)12.1 ( of)12.1 ( solid-state)30 ( )]TJ 0.025 Tc 0.038 Tw T* (lithium battery for the sake of our future growth. In the future, the Co\mpany will )Tj 0.055 Tw T* (expand production capacity and output for consumer batteries, power and \energy )Tj 0.043 Tc 0.07 Tw 0 -1.231 TD [(storage)12.2 ( batteries,)12.2 ( and)12.1 ( TWS)12.2 ( wireless)12.2 ( Bluetooth)12.1 ( headset)12.2 ( batteries,)12.1 ( and)12.1 ( continue)18 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 TD [(to)9 ( )0.5 (accumulate)9 ( )0.5 (market)9 ( )0.5 (reputation)9 ( )0.5 (with)9 ( )0.5 (superior)9 ( )0.5 (quality.)9 ( )0.5 (Ningbo)9 ( )0.5 (solid)9 ( )0.5 (electrolyte)9 ( )]TJ 0.04 Tc 0.07 Tw T* [(powder)12.9 ( materials)12.9 ( and)12.9 ( solid)12.8 ( diaphragm)12.9 ( production)12.9 ( technology)12.8 ( are)12.9 ( continuously)15 ( )]TJ 0.035 Tc 0.073 Tw T* [(optimized.)10 ( )0.5 (The)10 ( )0.5 (Company)10 ( )0.6 (will)10 ( )0.5 (further)10 ( )0.5 (accelerate)10 ( )0.5 (the)10.1 ( commercialization)10 ( )0.5 (of)10 ( )0.5 (solid)10 ( )]TJ 0.025 Tc 0 Tw T* (lithium battery technology.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(4. )-1105.5 (Develop lithium battery recycling business)]TJ /T1_0 1 Tf 0.074 Tw 2.181 -2.462 Td (With increasing demand for retired battery management growing in tandem \with )Tj 0.077 Tw T* (the use of automobiles and consumer electronics, the Company\222s lithiu\m battery )Tj 0.041 Tc 0.07 Tw T* [(recycling)12.6 ( business)12.6 ( has)12.6 ( a)12.6 ( promising)12.6 ( growth)12.6 ( potential,)12.6 ( and)12.6 ( enables)12.6 ( us)12.6 ( to)12.6 ( further)16 ( )]TJ 0.051 Tc T* [(e)0.5 (n)0.5 (r)0.6 (i)0.5 (c)0.5 (h)13 ( )0.5 (o)0.6 (ur)13.1 ( )0.5 (l)0.5 (i)0.5 (t)0.5 (h)0.5 (i)0.6 (u)0.5 (m)13 ( )0.5 (r)0.5 (a)0.5 (w)13.1 ( )0.5 (m)0.5 (a)0.5 (t)0.5 (e)0.6 (r)0.5 (i)0.5 (a)0.5 (l)13 ( )0.6 (s)0.5 (o)0.5 (u)0.5 (r)0.5 (c)0.5 (e)0.6 (s)0.5 (.)13 ( )0.5 (F)0.5 (u)0.5 (r)0.6 (t)0.5 (h)0.5 (e)0.5 (r)0.5 (m)0.5 (o)0.6 (r)0.5 (e)0.5 (,)13 ( )0.5 (t)0.5 (h)0.6 (e)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.6 (a)0.5 (n)0.5 (y)0.5 (\222)0.5 (s)13 ( )0.6 (a)0.5 (b)0.5 (i)0.5 (l)0.5 (i)0.5 (t)0.5 (y)26 ( )]TJ 0.037 Tc 0.071 Tw T* [(to)12 ( )0.5 (recycle)12 ( )0.5 (lithium)12 ( )0.5 (batteries)12 ( )0.5 (offers)12 ( )0.5 (a)12.1 ( sustainable)12 ( )0.5 (value-added)12 ( )0.5 (solution)12 ( )0.5 (to)12 ( )0.5 (battery)12 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.231 TD [(manufacturers)12.1 ( and)12.1 ( electric)12.2 ( vehicle)12.2 ( manufacturers,)12.2 ( which)12.2 ( help)12.2 ( strengthen)12.2 ( our)26 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 TD [(ties)4 ( )0.5 (with)4 ( )0.5 (such)4 ( )0.5 (customers,)4 ( )0.5 (expand)4 ( )0.5 (the)4 ( )0.5 (scale)4 ( )0.5 (of)4 ( )0.5 (battery)4 ( )0.5 (recycling)4 ( )0.5 (and)4 ( )0.5 (improve)4.1 ( )0.5 (the)4 ( )]TJ 0.047 Tc 0.07 Tw T* [(tec)0.5 (hnologies)13 ( of)12.9 ( our)13 ( batter)0.5 (y)12.9 ( recyc)0.5 (ling)12.9 ( bus)0.5 (iness.)12.9 ( T)0.5 (o)12.9 ( promote)13 ( susta)0.5 (inability)13 ( and)22 ( )]TJ 0.045 Tc T* [(c)0.5 (r)0.5 (e)0.6 (a)0.5 (t)0.5 (e)13 ( )0.5 (a)0.6 (d)0.5 (d)0.5 (i)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (a)0.5 (l)13 ( )0.5 (r)0.6 (e)0.5 (v)0.5 (e)0.5 (n)0.5 (u)0.5 (e)13 ( )0.6 (s)0.5 (o)0.5 (u)0.5 (r)0.5 (c)0.5 (e)0.6 (s)0.5 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.6 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( )0.5 (a)0.6 (i)0.5 (m)0.5 (s)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (l)0.5 (e)0.6 (v)0.5 (e)0.5 (r)0.5 (a)0.5 (g)0.5 (e)13.1 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (g)0.5 (r)0.5 (o)0.6 (w)0.5 (i)0.5 (n)0.5 (g)20 ( )]TJ 0.05 Tc T* [(number)12.4 ( of)12.3 ( retired)12.4 ( lithium)12.4 ( batteries)12.4 ( and)12.4 ( become)12.4 ( one)12.4 ( of)12.4 ( the)12.3 ( leading)12.4 ( players)12.4 ( in)25 ( )]TJ 0.025 Tc 0.068 Tw T* (lithium battery recycling area across the globe. In this aspect, the ret\ired lithium )Tj 0.038 Tc 0.07 Tw T* [(battery)12.6 ( disassembling)12.6 ( and)12.6 ( comprehensive)12.6 ( rare)12.6 ( metal)12.6 ( recycling)12.6 ( project)12.6 ( invested)13 ( )]TJ 0.048 Tc T* [(and)12.7 ( constructed)12.7 ( by)12.7 ( Ganfeng)12.7 ( Recycling)12.7 ( has)12.8 ( achieved)12.7 ( a)12.7 ( recycling)12.8 ( and)12.7 ( disposal)23 ( )]TJ 0.047 Tc T* [(capability)12.8 ( of)12.9 ( 3)12.8 (4)12.8 (,)12.8 (0)12.8 (0)12.8 (0)12.8 ( tons.)12.9 ( In)12.8 ( the)12.8 ( future)12.8 ( plan,)12.8 ( the)12.8 ( Company)12.8 ( will)12.8 ( build)12.8 ( a)12.8 ( large-)]TJ 0.052 Tc T* [(scale)12.2 ( comprehensive)12.2 ( facility)12.1 ( that)12.2 ( can)12.2 ( recycle)12.2 ( 1)12.2 (0)12.2 (0)12.1 (,)12.2 (0)12.2 (0)12.1 (0)12.2 ( tons)12.1 ( of)12.2 ( retired)12.2 ( lithium)27 ( )]TJ 0.027 Tc 0.081 Tw T* [(b)0.5 (a)0.5 (t)0.5 (t)0.5 (e)0.6 (r)0.5 (i)0.5 (e)0.5 (s)2 ( )0.5 (p)0.5 (e)0.5 (r)2 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r)0.6 (.)2 ( )0.5 (T)0.5 (h)0.5 (e)2 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)2 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (in)0.6 (u)0.5 (e)0.5 (s)2 ( )0.5 (t)0.5 (o)2 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (a)0.5 (n)0.5 (d)2 ( )0.5 (d)0.5 (o)0.5 (w)0.5 (n)0.5 (s)0.6 (t)0.5 (r)0.5 (e)0.5 (a)0.5 (m)2 ( )0.5 (b)0.5 (y)2 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (a)0.5 (n)0.6 (d)0.5 (i)0.5 (n)0.5 (g)2 ( )]TJ 0.025 Tc 0.07 Tw T* [(the )0.5 (production )0.5 (capacity )0.5 (of )0.5 (our )0.5 (lithium )0.5 (battery )0.5 (recycling business )0.5 (and )0.5 (developing )]TJ 0 Tw T* (a specialty in recycling and reusing retired batteries.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(5. )-1105.5 (Further enhance R&D and innovation capabilities)]TJ /T1_0 1 Tf 0.047 Tw 2.181 -2.462 Td (Committed to technological R&D, the Company will capitalize on its capac\ity as )Tj 0.059 Tw T* (National Post-doctoral Research Station, National Enterprise Technology \Center, )Tj 0.074 Tw T* (National Engineering Research Center, Academic Station and other researc\h and )Tj 0.044 Tc 0.07 Tw T* [(development)12.6 ( platforms)12.6 ( to)12.5 ( strengthen)12.6 ( long-term)12.5 ( cooperative)12.6 ( relationships)12.5 ( with)19 ( )]TJ 0.035 Tc 0.073 Tw T* [(domestic)10.1 ( and)10 ( )0.5 (overseas)10 ( )0.5 (colleges)10.1 ( )0.5 (and)10 ( )0.5 (universities)10 ( )0.5 (as)10 ( )0.5 (well)10 ( )0.5 (as)10 ( )0.5 (scientific)10.1 ( )0.5 (academies)10 ( )]TJ 0.039 Tc 0.07 Tw T* [(for)12.3 ( joint)12.2 ( development)12.2 ( of)12.3 ( new)12.3 ( products,)12.2 ( technologies)12.2 ( and)12.3 ( processes)12.3 ( and)12.2 ( in)12.2 ( turn)14.1 ( )]TJ 0.028 Tc 0.08 Tw T* [(f)0.5 (u)0.6 (r)0.5 (t)0.5 (h)0.6 (e)0.5 (r)3 ( )0.5 (i)0.6 (m)0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (e)3 ( )0.5 (i)0.6 (t)0.5 (s)3 ( )0.5 (i)0.5 (n)0.6 (n)0.5 (o)0.5 (v)0.6 (a)0.5 (t)0.5 (i)0.6 (o)0.5 (n)3 ( )0.5 (c)0.5 (a)0.6 (p)0.5 (a)0.6 (b)0.5 (i)0.5 (l)0.6 (i)0.5 (t)0.5 (y)0.6 (.)3 ( T)0.6 (h)0.5 (e)3 ( )0.6 (C)0.5 (o)0.5 (m)0.5 (p)0.6 (a)0.5 (n)0.5 (y)3 ( )0.6 (w)0.5 (i)0.5 (l)0.6 (l)3 ( )0.5 (f)0.5 (u)0.5 (r)0.6 (t)0.5 (h)0.5 (e)0.6 (r)3 ( )0.5 (i)0.5 (m)0.6 (p)0.5 (r)0.5 (o)0.6 (v)0.5 (e)3 ( )0.5 (i)0.5 (t)0.6 (s)3 ( )]TJ 0.03 Tc 0.078 Tw T* [(lithium)5 ( )0.5 (extraction)5 ( )0.5 (methods)5 ( )0.5 (and)5 ( )0.5 (high)5 ( )0.5 (purity)5 ( )0.6 (lithium)5 ( )0.5 (processing)5 ( )0.5 (techniques,)5 ( )0.5 (so)5 ( )0.5 (as)5 ( )]TJ 0.025 Tc 0.01 Tw T* [(to )0.5 (maintain )0.5 (its )0.5 (technological edge )0.5 (in )0.5 (the global )0.5 (lithium )0.5 (industry. Our )0.5 (R&D )0.5 (efforts )]TJ -0.025 Tw T* (include:)Tj ET endstreamendobj98 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 34 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (FUTURE DEVELOPMENT STRATEGY OF THE COMPANY)Tj 0.072 Tc 0.07 Tw 0 -2.462 TD [(1)47 (.)47 ( )-988.5 (Consolidate)12.4 ( the)12.4 ( advantages)12.4 ( and)12.4 ( continue)12.4 ( to)12.3 ( acquire)12.4 ( upstream)12.3 ( lithium)47 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.231 Td (resources globally)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw T* [(Securing)12.6 ( high-quality)12.6 ( and)12.6 ( stable)12.6 ( lithium)12.6 ( resources)12.6 ( is)12.6 ( fundamental)12.6 ( to)12.6 ( the)12.6 ( long-)]TJ 0.025 Tc 0.052 Tw 0 -1.231 TD (term sustainable growth of our business. The Company will continuously e\xpand )Tj 0.037 Tc 0.071 Tw 0 -1.231 TD [(i)0.5 (t)0.5 (s)12 ( )0.5 (c)0.5 (u)0.5 (r)0.5 (re)0.5 (n)0.5 (t)12 ( )0.5 (l)0.5 (i)0.5 (t)0.5 (hi)0.5 (u)0.5 (m)12 ( )0.5 (r)0.5 (e)0.5 (s)0.5 (o)0.5 (u)0.5 (rc)0.6 (es)12.1 ( )0.5 (po)0.5 (r)0.5 (t)0.5 (f)0.5 (o)0.5 (li)0.5 (o)12 ( )0.5 (t)0.5 (h)0.5 (r)0.5 (o)0.5 (u)0.5 (gh)12 ( )0.5 (f)0.5 (u)0.5 (r)0.5 (t)0.5 (h)0.5 (e)0.5 (r)12 ( )0.5 (m)0.5 (e)0.5 (r)0.5 (ge)0.5 (r)0.5 (s)12 ( )0.5 (a)0.5 (n)0.5 (d)12 ( )0.5 (a)0.5 (c)0.5 (q)0.5 (u)0.5 (is)0.5 (i)0.5 (t)0.5 (i)0.5 (o)0.5 (ns)12.1 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.231 TD [(and)12.2 ( exploration,)12.2 ( with)12.2 ( a)12.2 ( focus)12.2 ( on)12.2 ( brine-based)12.2 ( extraction)12.2 ( development.)12.2 ( In)12.2 ( 2)12.1 (0)12.3 (2)12.1 (0)12.2 (,)15 ( )]TJ 0.025 Tc 0.038 Tw T* (the Company plans to increase its stake in Minera Exar in Argentina to 5\1%, and )Tj 0.043 Tc 0.07 Tw T* [(proactively)12.8 ( advance)12.8 ( the)12.8 ( development)12.8 ( and)12.8 ( construction)12.8 ( of)12.8 ( the)12.9 ( Cauchari-Olaroz)18.1 ( )]TJ 0.025 Tc 0.024 Tw T* (lithium salt lake project, which is scheduled to be put into operation i\n 2021. The )Tj 0.03 Tc 0.078 Tw T* [(feasibility)5 ( )0.5 (study)5 ( )0.5 (of)5 ( )0.5 (Mariana)5.1 ( )0.5 (Project)5 ( )0.5 (in)5 ( )0.5 (Argentina)5 ( )0.5 (was)5 ( )0.5 (successfully)5 ( )0.5 (completed)5 ( )0.5 (in)5 ( )]TJ 0.025 Tc 0.082 Tw T* (2019, and the project is getting to start environment assessment, pilot \scale test, )Tj 0.03 Tw T* (and design of plant construction. The Company acquired the equity of the\ Sonora )Tj 0.045 Tc 0.07 Tw T* [(p)0.5 (r)0.5 (o)0.6 (j)0.5 (e)0.5 (c)0.5 (t)13.1 ( )0.5 (i)0.5 (n)13 ( )0.5 (M)0.5 (e)0.6 (x)0.5 (i)0.5 (c)0.5 (o)13 ( )0.6 (i)0.5 (n)13 ( )0.5 (2)13 (0)13 (1)13.1 (9)13 (,)13 ( )0.5 (w)0.5 (h)0.6 (i)0.5 (c)0.5 (h)13 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)13 ( )0.5 (b)0.6 (e)0.5 (c)0.5 (o)0.5 (m)0.5 (e)13.1 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.6 (w)0.5 (o)0.5 (r)0.5 (l)0.6 (d)0.5 (\222)0.5 (s)13 ( )0.5 (l)0.6 (e)0.5 (a)0.5 (d)0.5 (i)0.6 (n)0.5 (g)13 ( )0.5 (p)0.5 (r)0.5 (o)0.6 (j)0.5 (e)0.5 (c)0.5 (t)13 ( )0.6 (f)0.5 (o)0.5 (r)20 ( )]TJ 0.025 Tc 0.076 Tw T* [(extracting )0.5 (lithium )0.5 (from )0.5 (clay. )0.5 (The )0.6 (Company )0.6 (will )0.6 (continue )0.5 (to )0.5 (actively )0.5 (explore )0.5 (the )]TJ 0.03 Tc 0.078 Tw T* [(possibility)5 ( )0.5 (of)5 ( )0.5 (acquiring)5 ( )0.5 (further)4.9 ( )0.6 (sources)5 ( )0.5 (of)5 ( )0.5 (lithium)5 ( )0.5 (by)5 ( )0.5 (virtue)5 ( )0.5 (of)5 ( )0.5 (experience)5 ( )0.5 (along)5 ( )]TJ 0.043 Tc 0.07 Tw T* [(the)12.7 ( industry)12.7 ( value)12.7 ( chain)12.7 ( and)12.7 ( insights)12.7 ( into)12.7 ( the)12.7 ( market)12.7 ( trends)12.7 ( in)12.7 ( order)12.7 ( to)12.7 ( enrich)18 ( )]TJ T* [(the)12.3 ( core)12.3 ( portfolio)12.2 ( of)12.2 ( high-quality)12.2 ( lithium)12.3 ( resources)12.3 ( and)12.2 ( provide)12.3 ( reliable)12.3 ( high-)]TJ 0.025 Tc 0.031 Tw 0 -1.231 TD [(quality )0.5 (supply )0.5 (of )0.5 (lithium )0.5 (resources )0.5 (for )0.5 (the )0.6 (further )0.5 (enhancement )0.5 (of )0.5 (midstream )0.5 (and )]TJ 0 Tw 0 -1.231 TD (downstream operations.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(2. )-1105.5 (Expand the production capacity of treatment and processing facilities)]TJ /T1_0 1 Tf 0.023 Tc 2.181 -2.462 Td [(The Company has planned for a series of capacity expansions of its manuf\acturing)-2 ( )]TJ 0.025 Tc 0.081 Tw T* (facilities to capitalize on the growing demand of lithium and solidify i\ts leading )Tj 0.024 Tc 0 Tw T* [(position in the lithium products industry. The Company is building a bat\tery grade)-1 ( )]TJ 0.04 Tc 0.07 Tw T* [(lithium)12.8 ( hydroxide)12.8 ( production)12.8 ( line)12.8 ( with)12.8 ( a)12.9 ( production)12.8 ( capacity)12.8 ( of)12.8 ( 5)12.8 (0)12.8 (,)12.8 (0)12.8 (0)12.8 (0)12.8 ( tonnes)15 ( )]TJ 0.025 Tc 0.066 Tw T* (per annum at Basic Lithium Plant in Xinyu, which targets commissioning b\y the )Tj 0.005 Tw T* (end of 2020. The new production facilities will expand the Company\222s \production )Tj 0.017 Tw T* (capacity to cope with the rapid growth of the business. The Company will\ expand )Tj 0.079 Tw T* (its production capacity based on the changes in and assessment of future\ market )Tj 0.023 Tc 0 Tw T* [(demands for lithium products and plans to establish a lithium carbonate \equivalent)-2 ( )]TJ 0.037 Tc 0.071 Tw T* [(production)12 ( )0.5 (capacity)12 ( )0.5 (comprising)12 ( )0.5 (1)12 (0)12 (0)12 (,)12 (0)12 (0)12 (0)12 ( )0.5 (tonnes)12 ( )0.5 (per)12 ( )0.5 (annum)12 ( )0.5 (of)12 ( )0.6 (lithium)12 ( )0.5 (extracted)12.1 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.231 TD (from ore and 100,000 tonnes per annum of lithium extracted from brine an\d clay )Tj 0 Tw 0 -1.231 TD (in 2025.)Tj ET endstreamendobj97 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 33 \226)Tj 0.033 Tc 0.075 Tw 13 0 0 13 56.6929 776.3179 Tm [(During)8 ( )0.5 (the)8 ( )0.6 (Reporting)8 ( )0.5 (Period,)8 ( )0.5 (the)8 ( )0.5 (Group\222s)8 ( )0.5 (rebuilding)8.1 ( )0.5 (and)8 ( )0.5 (extension)8 ( )0.5 (of)8.1 ( basic)8 ( )0.5 (Lithium)8 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 TD [(Plant Stage III was progressing smoothly, which is expected to be put in\to operation by)-1 ( )]TJ 0.025 Tc 0.049 Tw T* (the end of 2020. During the Reporting Period, the Group actively deepene\d the layout )Tj 0.04 Tc 0.07 Tw T* [(of)13 ( )0.5 (the)13 ( )0.5 (lit)0.5 (hi)0.5 (um)13 ( b)0.5 (at)0.5 (te)0.5 (ry)13 ( b)0.5 (u)0.5 (si)0.5 (nes)0.5 (s)13 ( s)0.5 (eg)0.5 (me)0.5 (nt)0.5 (.)12.9 ( )0.5 (Do)0.5 (ng)0.5 (gu)0.5 (an)13 ( G)0.5 (a)0.5 (nf)0.5 (en)0.5 (g)12.9 ( )0.5 (El)0.5 (ec)0.5 (tr)0.5 (on)0.5 (ic)0.5 (s)13 ( C)0.5 (o.,)13 ( L)0.5 (td)0.5 (.\222)0.5 (s)15 ( )]TJ 0.029 Tc 0.079 Tw T* [(full-automation)4 ( )0.5 (lithium)4 ( )0.5 (polymer)4 ( )0.5 (battery)4.1 ( production)4 ( )0.5 (line)4 ( )0.5 (and)4 ( )0.5 (Jiangxi)4 ( )0.5 (Ganfeng)4 ( )0.5 (Battery)4 ( )]TJ 0.026 Tc 0.082 Tw T* [(Technology)1 ( )0.5 (Co.,)1 ( )0.5 (Ltd.\222s)1 ( )0.6 (lithium)1 ( )0.5 (iron)1 ( )0.5 (phosphate)1 ( )0.5 (energy)1 ( )0.5 (storage)1 ( )0.5 (battery)1 ( )0.5 (production)1 ( )0.5 (line)1 ( )]TJ 0.041 Tc 0.07 Tw T* [(w)0.5 (er)0.5 (e)12.9 ( )0.5 (ru)0.5 (nn)0.5 (in)0.5 (g)12.9 ( )0.5 (sm)0.5 (oot)0.5 (hl)0.5 (y;)13 ( X)0.5 (in)0.5 (yu)13 ( G)0.5 (an)0.5 (f)0.5 (eng)13 ( E)0.5 (l)0.5 (ec)0.5 (tr)0.5 (on)0.5 (ic)0.5 (s)12.9 ( )0.5 (Co)0.5 (.,)13 ( L)0.5 (td)0.5 (.\222)13 ( T)0.5 (WS)13 ( b)0.5 (at)0.5 (te)0.5 (ri)0.5 (es)13 ( h)0.5 (a)0.5 (d)12.9 ( )0.5 (a)16 ( )]TJ 0.025 Tc 0.033 Tw 0 -1.231 TD (daily output of 100,000 to 120,000 sets; In terms of recycling retired l\ithium batteries, )Tj 0.044 Tc 0.07 Tw 0 -1.231 TD [(the)12.4 ( Group)12.4 ( will)12.4 ( build)12.3 ( a)12.4 ( large-scale)12.4 ( comprehensive)12.4 ( facility)12.4 ( that)12.3 ( can)12.4 ( recover)12.4 ( 1)12.3 (0)12.4 (0)12.4 (,)12.4 (0)12.4 (0)12.3 (0)19.1 ( )]TJ 0.025 Tc 0.061 Tw T* (tons of retired lithium batteries per year, planned the layout of dozens\ of pre-disposal )Tj 0.038 Tc 0.07 Tw T* [(centers)12.9 ( nationwide,)12.8 ( and)12.8 ( actively)12.9 ( planned)12.9 ( an)12.8 ( overseas)12.9 ( battery)12.9 ( recycling)12.9 ( and)12.8 ( disposal)13 ( )]TJ 0.027 Tc 0.081 Tw T* [(network,)2 ( )0.5 (so)2 ( )0.5 (that)2 ( )0.5 (retired)2 ( )0.5 (batteries)2 ( )0.5 (can)2 ( )0.5 (be)2.1 ( delivered)1.9 ( )0.5 (and)2 ( )0.5 (dismantled)2 ( )0.5 (at)2 ( )0.5 (a)2 ( )0.5 (short)2 ( distance,)2 ( )]TJ 0.025 Tc 0 Tw T* (which improves safety attributes and facilitates local business operatio\ns.)Tj 0.033 Tc 0.075 Tw 0 -2.462 TD [(During)8 ( )0.5 (the)8 ( )0.5 (Reporting)8 ( )0.5 (Period,)8 ( )0.5 (the)8 ( )0.5 (Company)8 ( )0.5 (actively)8 ( )0.5 (promoted)8 ( )0.5 (the)8 ( )0.5 (public)8 ( )0.5 (issuance)8 ( )0.5 (of)8 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 TD [(A-share)12.8 ( convertible)12.7 ( corporate)12.8 ( bonds.)12.7 ( The)12.8 ( A-share)12.8 ( convertible)12.7 ( corporate)12.7 ( bonds)12.7 ( are)21.1 ( )]TJ 0.048 Tc T* [(i)0.5 (n)0.5 (te)0.6 (nd)0.5 (e)0.5 (d)13 ( )0.5 (t)0.5 (o)12.9 ( )0.5 (r)0.5 (a)0.5 (i)0.5 (s)0.5 (e)13 ( )0.5 (a)13 ( )0.5 (t)0.5 (ot)0.5 (a)0.5 (l)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (RM)0.5 (B)13 (2)13 (,)13 (1)13 (0)13 (8)12.9 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (io)0.5 (n)0.5 (,)13 ( )0.5 (w)0.5 (h)0.5 (i)0.5 (ch)13 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)13 ( )0.5 (be)13 ( )0.5 (u)0.5 (s)0.5 (e)0.5 (d)13 ( )0.5 (f)0.5 (or)13 ( )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (c)0.5 (ri)0.5 (b)0.5 (i)0.5 (n)0.5 (g)23 ( )]TJ 0.046 Tc T* [(for)12.3 ( some)12.3 ( equity)12.2 ( interests)12.3 ( of)12.3 ( the)12.3 ( project)12.3 ( in)12.3 ( Minera)12.3 ( Exar)12.3 ( and)12.3 ( the)12.2 ( reconstruction)12.3 ( and)21 ( )]TJ 0.025 Tc 0.058 Tw T* (expansion project for the10,000-ton lithium salt. The Company received t\he Approval )Tj 0.076 Tw T* (of the Public Issuance of Convertible Corporate Bonds by Ganfeng Lithium\ Co., Ltd. )Tj 0.033 Tc 0.075 Tw 0 -1.231 TD [(i)0.5 (s)0.5 (s)0.6 (u)0.5 (e)0.5 (d)8 ( )0.5 (b)0.6 (y)8 ( )0.5 (t)0.5 (h)0.5 (e)8 ( )0.5 (C)0.6 (h)0.5 (i)0.5 (n)0.5 (a)8 ( )0.5 (S)0.6 (e)0.5 (c)0.5 (u)0.6 (r)0.5 (i)0.5 (t)0.5 (i)0.5 (e)0.6 (s)8 ( )0.5 (R)0.5 (e)0.6 (g)0.5 (u)0.5 (l)0.5 (a)0.6 (t)0.5 (o)0.5 (r)0.5 (y)8 ( )0.5 (C)0.6 (o)0.5 (m)0.5 (m)0.5 (i)0.5 (s)0.6 (s)0.5 (i)0.5 (o)0.5 (n)8 ( )0.5 (o)0.6 (n)8 ( )0.5 (1)8 (3)8 ( )0.5 (J)0.5 (u)0.5 (l)0.6 (y)7.9 ( )0.6 (2)8 (0)8 (2)8 (0)8 ( )0.5 (\()0.5 (Z)0.5 (h)0.6 (e)0.5 (n)0.5 (g)8 ( )0.5 (J)0.5 (i)0.6 (a)0.5 (n)8 ( )]TJ 0.055 Tc 0.07 Tw 0 -1.231 TD [(Xu)12.3 ( Ke)12.4 ( [)12.3 (2)12.3 (0)12.3 (2)12.3 (0)12.3 (])12.3 ( No.)12.3 ( 1)12.3 (3)12.3 (9)12.3 (8)12.3 (\),)12.3 ( and)12.2 ( successfully)12.3 ( completed)12.3 ( the)12.3 ( issuance)12.3 ( of)12.3 ( convertible)30 ( )]TJ 0.037 Tc 0.071 Tw T* [(bonds)12 ( )0.5 (on)12 ( )0.5 (6)12 ( )0.5 (August)12 ( )0.5 (2)12 (0)12 (2)12 (0)12 (.)12 ( )0.5 (The)12 ( )0.5 (implementation)12 ( )0.5 (of)12 ( )0.5 (this)12 ( )0.5 (convertible)12 ( )0.5 (bond)12 ( )0.5 (issuance)12 ( )0.5 (and)12.1 ( )]TJ 0.046 Tc 0.07 Tw T* [(fundraising)12.9 ( project)12.9 ( is)12.9 ( expected)12.9 ( to)12.9 ( further)12.9 ( enhance)12.9 ( the)12.9 ( Company\222s)12.9 ( capital)12.9 ( strength,)21 ( )]TJ 0.025 Tc 0.01 Tw T* (reduce raw material costs, expand product scale, and consolidate its lea\ding position in )Tj 0 Tw T* (the industry.)Tj ET endstreamendobj95 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 32 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (BUSINESS REVIEW)Tj /T1_0 1 Tf 0.105 Tc 0.07 Tw 0 -2.462 TD [(During)12.5 ( the)12.5 ( Reporting)12.4 ( Period,)12.5 ( the)12.5 ( Group)12.5 ( achieved)12.4 ( an)12.4 ( operating)12.4 ( income)12.4 ( of)80 ( )]TJ 0.047 Tc 0 -1.231 TD [(RMB)12.6 (2)12.6 (,)12.6 (3)12.6 (7)12.7 (4)12.6 (,)12.6 (6)12.6 (0)12.6 (6)12.6 ( thousand,)12.6 ( representing)12.6 ( a)12.6 ( decrease)12.6 ( of)12.6 ( 1)12.6 (5)12.6 (.)12.7 (2)12.6 (6)12.6 (%)12.6 ( as)12.6 ( compared)12.6 ( with)12.6 ( the)22 ( )]TJ 0.025 Tc 0.054 Tw T* (corresponding period last year; and the profits attributable to the owne\rs of the parent )Tj 0.036 Tc 0.072 Tw T* [(company)11 ( )0.5 (of)11 ( )0.5 (RMB)11 (1)11 (5)11 (7)11 (,)11 (6)11 (9)11 (6)11 ( )0.5 (thousand,)11 ( )0.5 (representing)11 ( )0.5 (a)11 ( )0.5 (decrease)11 ( )0.5 (of)11 ( )0.5 (4)11 (6)11 (.)11 (9)11 (4)11 (%)11 ( )0.5 (as)11 ( )0.5 (compared)11 ( )]TJ 0.059 Tc 0.07 Tw T* [(with)12.8 ( the)12.9 ( corresponding)12.9 ( period)12.9 ( last)12.9 ( year.)12.9 ( At)12.9 ( the)12.9 ( end)12.9 ( of)12.9 ( the)12.9 ( Reporting)12.8 ( Period,)12.8 ( the)34 ( )]TJ 0.042 Tc 0 -1.231 TD [(total)12.4 ( assets)12.4 ( and)12.4 ( net)12.4 ( assets)12.4 ( of)12.4 ( the)12.4 ( Group)12.4 ( amounted)12.4 ( to)12.4 ( RMB)12.4 (1)12.4 (6)12.4 (,)12.4 (0)12.4 (1)12.4 (0)12.4 (,)12.5 (9)12.4 (1)12.4 (9)12.4 ( thousand)12.4 ( and)17 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.231 TD (RMB8,261,549 thousand, representing an increase of 12.65% and a decrease\ of 1.77%, )Tj 0 Tw T* (respectively, as compared with the end of last year.)Tj 0.042 Tc 0.07 Tw 0 -2.462 TD [(During)12.5 ( the)12.6 ( Reporting)12.6 ( Period,)12.6 ( the)12.6 ( COVID-)12.6 (1)12.5 (9)12.6 ( pandemic)12.6 ( brought)12.6 ( along)12.6 ( an)12.5 ( impact)12.6 ( on)17 ( )]TJ 0.025 Tc 0.073 Tw 0 -1.231 TD (the Group\222s business performance and the development of the lithium i\ndustry. Since )Tj 0.029 Tc 0.079 Tw T* [(the)4.1 ( outbreak)4 ( )0.5 (of)4 ( )0.5 (the)4.1 ( )0.5 (pandemic,)4 ( )0.5 (the)4 ( )0.5 (Group)4 ( )0.6 (has)4 ( )0.5 (paid)4 ( )0.5 (close)4.1 ( )0.5 (attention)4 ( )0.5 (to)4 ( )0.5 (the)4 ( )0.5 (development)4 ( )]TJ 0.035 Tc 0.073 Tw T* [(of)10 ( )0.5 (the)10.1 ( )0.5 (pandemic,)10 ( )0.5 (actively)10 ( )0.5 (engaged)10 ( )0.5 (in)10 ( )0.5 (pandemic)10 ( )0.5 (prevention)10 ( )0.5 (and)10 ( )0.5 (control,)10 ( )0.5 (and)10.1 ( )0.5 (actively)10 ( )]TJ 0.054 Tc 0.07 Tw T* [(organized)12.4 ( the)12.5 ( resumption)12.5 ( of)12.4 ( work)12.4 ( and)12.5 ( production)12.5 ( on)12.4 ( the)12.5 ( premise)12.5 ( of)12.4 ( ensuring)12.4 ( the)29 ( )]TJ 0.025 Tc 0.047 Tw T* [(health )0.5 (and )0.5 (safety )0.5 (of )0.5 (its )0.5 (employees. )0.5 (Except )0.5 (for )0.5 (the )0.5 (temporary )0.6 (suspension )0.5 (of )0.5 (production )]TJ 0.057 Tc 0.07 Tw T* [(of)12.5 ( some)12.6 ( of)12.5 ( the)12.5 ( Group\222s)12.5 ( product)12.5 ( lines)12.5 ( in)12.6 ( February)12.5 ( 2)12.5 (0)12.5 (2)12.5 (0)12.5 ( due)12.5 ( to)12.5 ( the)12.6 ( pandemic,)12.6 ( the)32 ( )]TJ 0.025 Tc 0.069 Tw T* (Group has tried its best to fulfill the orders of customers for products\ such as lithium )Tj 0.031 Tc 0.077 Tw T* [(c)0.5 (om)0.5 (po)0.5 (un)0.5 (ds)0.5 (,)6 ( )0.5 (l)0.5 (it)0.5 (hi)0.5 (um)6 ( )0.5 (m)0.5 (et)0.5 (a)0.5 (l,)6 ( )0.5 (a)0.5 (n)0.5 (d)6 ( )0.5 (li)0.5 (th)0.5 (iu)0.5 (m)6 ( )0.5 (b)0.5 (at)0.5 (te)0.5 (r)0.5 (ie)0.5 (s,)6 ( )0.5 (w)0.5 (i)0.5 (th)6 ( )0.5 (t)0.5 (he)6 ( )0.5 (p)0.5 (u)0.5 (rp)0.5 (os)0.5 (e)6 ( )0.5 (o)0.5 (f)6 ( )0.5 (mi)0.5 (ni)0.5 (mi)0.5 (z)0.5 (in)0.5 (g)6 ( )0.5 (th)0.5 (e)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (impact of the pandemic on its operating performance.)Tj 0.039 Tc 0.07 Tw 0 -2.462 TD [(During)12.6 ( the)12.6 ( Reporting)12.6 ( Period)12.5 (,)12.6 ( the)12.5 ( Group)12.6 ( continued)12.5 ( to)12.5 ( acquire)12.6 ( upstream)12.5 ( high)12.6 (-)12.5 (quality)14 ( )]TJ 0.054 Tc 0 -1.231 TD [(lithium)12.5 ( resources)12.6 ( globally)12.6 (,)12.5 ( enriched)12.6 ( and)12.5 ( broadened)12.6 ( the)12.6 ( diversified)12.6 ( supply)12.6 ( of)12.5 ( raw)29 ( )]TJ 0.062 Tc T* [(materials)12.8 ( on)12.9 ( a)12.8 ( continuous)12.8 ( basis)12.9 (.)12.8 ( During)12.8 ( the)12.8 ( Reporting)12.8 ( Period)12.8 (,)12.8 ( Ganfeng)12.8 ( Lithium)37.1 ( )]TJ 0.025 Tc 0.022 Tw T* (Netherlands Co., B.V. \(\223)Tj /T1_1 1 Tf (Ganfeng Lithium Netherlands)Tj /T1_0 1 Tf (\224\) \()Tj /C0_0 1 Tf -0.025 Tw <0B831686172F125C>Tj /T1_0 1 Tf 0.022 Tw (\) entered into the )Tj 0.033 Tw T* (agreement with Lithium Americas Corp. \(\223)Tj /T1_1 1 Tf -0.025 Tw (LAC)Tj /T1_0 1 Tf 0.033 Tw (\224\) \()Tj /C0_0 1 Tf -0.025 Tw <07D50772125E0E38>Tj /T1_0 1 Tf 0.033 Tw (\) and Minera Exar S.A in )Tj 0.023 Tc 0 Tw T* (Argentina \(\223)Tj /T1_1 1 Tf (Minera Exar)Tj /T1_0 1 Tf [(\224\) to increase its shareholding in Minera Exar in Argentina to)-2 ( )]TJ 0.025 Tc T* (51%. After the completion of the above-mentioned transactions, the Compa\ny will take )Tj 0.036 Tc 0.072 Tw T* [(a)11 ( )0.5 (controlling)11 ( )0.5 (stake)11 ( )0.5 (in)11 ( )0.5 (Minera)11 ( )0.5 (Exar)11 ( )0.5 (and)11 ( )0.5 (obtain)11 ( )0.5 (the)11 ( )0.5 (majority)11 ( )0.5 (seats)11 ( )0.5 (of)11 ( )0.5 (the)11 ( )0.5 (management)11 ( )]TJ 0.025 Tc 0.026 Tw T* [(committee and the Board. The assets )0.5 (of Minera Exar in Argentina will be consolidated )]TJ 0.05 Tc 0.07 Tw T* [(and)12.1 ( included)12.1 ( in)12.1 ( the)12.1 ( financial)12.1 ( statements)12.1 ( of)12.1 ( the)12.1 ( Company)12.1 ( and)12.1 ( promote)12.1 ( the)12.1 ( smooth)25 ( )]TJ 0.025 Tc 0 Tw T* (construction of Cauchari-Olaroz salt lake project of Minera Exar.)Tj ET endstreamendobj96 0 obj<>endobj100 0 obj[101 0 R]endobj101 0 obj<>endobj102 0 obj<>endobj103 0 obj<>endobj104 0 obj<>stream HP1 JV&2}QƀDz'Y֪=A2(r|mfܛq`RFKbwx9 q<s e!$DފZ֫k21&rFZ8S_lE \ endstreamendobj105 0 obj<>stream HlT{PWOB/C?B|TtZHE"J𱮨uXvW+lřv޴љmgzwsyIT L&9ے'2{wlNueUE U\]atVF$Pt+CGP2ίo)?ڛl-;{NHMΪ斲VNcu%TR[ƪ5so}k.T&}u@HsIR$IK)8)(^^yz Qjj'2uYALDPw%m m+G{!KrlǻrdQ1Hu]tՏW'c0fO 8iРAAn%Kjw*템CŎҒ2S^)a&]NJC@yrP4fAmbQɐLi!0!L1L*J+iH0\k5m,08W&hlc"Ǚ<A2H a\C+X\iH9 4`u Y~e\8Eŝ-t߁~^kp,sj3$`6(&$\_ X[W`+bRL:.Nɮ19#} ]c!䃭fC :DiS?-맳?-?mq~؟mNbC!.\ekŀk~RMN7UO46a?@GՀQcYs-ZV7H!By_~6{}Xz+AT Y[=cezi,pM-> u+}d3R0ׁb>n5V'q߁SUXG?Co0񆂦*Ksݿ(vC!>փywuzm6KI& u ܴxgVGx5CS$ ߎާbhیCsŸw@+Q_Oiyy6. pf.b#߰WyTXclR Jdjpt;vMMy~?w<:F}&6 F3ޫNrӅm:@lLȯ:'^E&fݣ!/\NB XB%Z$'-jfBMo'LǭVc]?l$|PKrEua/c:ǞeVU(coR\T]VXgwa~WQ"֪I3i3ogz޿|<}$b@0@I(4du&E?'`;C Ur 9@ &K>dM|HM?ЮX3qdQQp"Wo<#Pc RѾ/?PcF%󓰙<< WLܰd~ln{a ulqGh7 xj;a[6Ĕ* S0 JNʈ[DH-ݝ<~w<_NTLS-1昬ʔpkkU^KKeKr‘\Jﶖ9K".%bTМv:dȦF*̤OL"(a=*Hx/,]k2p6&7;qɗh#`ddB̅F[iTs3lNLMջS]H[R7KKe2iȩPWCjמI&;[rj67-﯅U|u)Ro#ɔ@b-$Na" HN#94{|pC9,E_:,R  G``œ d>mEdG5_v$TzIAϊN"+n^9ȢjCw]vg]f M:8idQ#צ1KwQfŗݺ0&oV+M}G;PxD?zb"B';)aıdOV=?͔i ~49uޗ_ q\{z1B֕A!x:Q\eaٷ<^TXVJ4JUN Ǒ=Y73 [<7뵹Yk1eɕ)ZE$XsxI}zX<99\~R#kI2}q4%EU۪OO֦4ހu4Uc"%*]' `qq~Ʈ5Okq̍ͥЅQv7LV"\cEɭXd_\T\RYy\n3$DPE^U*߬T;Ѝ{Uu9~;tԓtL(w{>*ysKlA++eȸa*X$5Rj |;IBrSX #^ittmm_=a3&33b˅<-}HY$I?Ei'%P m߸sO>אUUjs%6.}s70' ۱tŸQh,duFξ`Yn<Y(m=LdMn:JcP73MJm5V#=oCs1+`7WlMҺǘ yYA}~f_&;W%*ThdEH%=_a;bŏnn2aL;DƙCSyJ}ZjJ3_8>sk8&nbO\b{6K0y5Uu:,CwʝaF莘1u5ۖ+ ͸g2碇Mm*˹k47jJϩpz ͉7Ο9Q9Ns##w]\bl/76M2X!*A#t ]^ǕXg@rI'v;wzd"TP"`ѻÏ9Z؍|9R5xku5sM4OfQPwD?-jXŰśbY"w,ψ좘r϶;%U%"C,K! 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At prese\nt, overseas )Tj 0.053 Tw T* (countries continue to strongly promote the electric vehicles, many of wh\ich have )Tj 0.042 Tc 0.07 Tw T* [(introduced)12.5 ( significant)12.6 ( preferential)12.6 ( policies)12.6 ( for)12.6 ( electric)12.6 ( vehicles,)12.6 ( and)12.6 ( increased)17 ( )]TJ 0.025 Tc 0 Tw T* (subsidies to stimulate the demand of end-users.)Tj ET endstreamendobj114 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 29 \226)Tj /T1_1 1 Tf 10.4 0 0 13 85.0394 770.8479 Tm (Issuing authority)Tj 8.722 0 Td (Issuing time)Tj 8.995 0 Td (Industrial policy)Tj -0.025 Tw 12.265 0 Td (Descriptions)Tj /T1_0 1 Tf -29.982 -2.462 Td (European )Tj 1.254 -1.231 Td (Commission)Tj 0 Tw 13 0 0 13 175.748 738.8479 Tm (19 May 2020)Tj 10.4 0 0 13 269.2913 738.8479 Tm (Green Economic Recovery )Tj -0.025 Tw 0 -1.231 TD (Plan)Tj 0 Tw 12.265 1.231 Td (The EU intends to boost the )Tj T* (electric vehicle industry as )Tj T* (an important part of green )Tj T* (economic recovery, including )Tj T* (encouraging automobile )Tj T* (enterprises to produce and )Tj T* (sell clean-energy vehicles )Tj 0 -1.231 TD (and increasing investment in )Tj 0 -1.231 TD (charging infrastructure. 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In the )Tj 0.037 Tc 0.071 Tw 0 -1.231 TD [(s)0.5 (ho)0.5 (rt)12 ( )0.5 (t)0.5 (er)0.5 (m)0.5 (,)12 ( )0.5 (it)12 ( )0.5 (r)0.5 (ep)0.5 (r)0.5 (es)0.5 (e)0.5 (nt)0.5 (s)12 ( )0.5 (a)12 ( )0.5 (r)0.5 (ea)0.5 (s)0.5 (on)0.5 (ab)0.5 (le)12 ( )0.6 (su)0.5 (pp)0.5 (or)0.5 (t)12 ( )0.5 (po)0.5 (li)0.5 (c)0.5 (y)12 ( )0.5 (de)0.5 (si)0.5 (g)0.5 (na)0.5 (te)0.5 (d)12 ( )0.5 (b)0.5 (y)11.9 ( )0.6 (th)0.5 (e)12 ( )0.5 (C)0.5 (hin)0.5 (e)0.5 (se)12 ( )]TJ 0.042 Tc 0.07 Tw T* [(government)12.4 ( based)12.4 ( on)12.3 ( the)12.3 ( current)12.4 ( industry)12.3 ( situation.)12.4 ( It)12.3 ( will)12.3 ( ease)12.4 ( the)12.4 ( decline)12.4 ( of)17 ( )]TJ 0.035 Tc 0.073 Tw T* [(subsidies)10 ( )0.5 (and)10 ( )0.5 (promote)10.1 ( )0.5 (the)10 ( )0.5 (consumption)10 ( )0.5 (of)10 ( )0.5 (electric)10.1 ( )0.5 (vehicles.)10 ( )0.5 (In)10 ( )0.5 (the)10 ( )0.6 (long)10 ( )0.5 (run,)10 ( )0.5 (as)10 ( )]TJ 0.031 Tc 0.077 Tw T* [(subsidies)6 ( )0.5 (are)6 ( )0.5 (removed)6.1 ( )0.5 (entirely,)6 ( )0.5 (the)6 ( )0.5 (development)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (electric)6 ( )0.5 (vehicle)6.1 ( )0.5 (industry)6 ( )]TJ 0.025 Tc 0 Tw T* (will depend on cost reduction and product quality improvement.)Tj 0.021 Tc 0 -2.462 TD [(The important foreign policies issued recently relating to the electric \vehicle are as)-4 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 TD (follows:)Tj /T1_1 1 Tf 0 Tw 10.4 0 0 13 85.0394 616.3179 Tm (Issuing authority)Tj 8.722 0 Td (Issuing time)Tj 8.995 0 Td (Industrial policy)Tj -0.025 Tw 12.265 0 Td (Descriptions)Tj /T1_0 1 Tf -29.982 -2.462 Td (German )Tj 1.254 -1.231 Td (Government\222s )Tj T* (Commission)Tj 0 Tw 13 0 0 13 175.748 584.3179 Tm (17 February )Tj -0.025 Tw T* (2020)Tj 10.4 0 0 13 269.2913 584.3179 Tm (\223Umweltbonus\224 )Tj 0 Tw T* (\(Environmental bonus\) )Tj -0.025 Tw T* (Program)Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 3.244 0 Td [<0080>200 <14110FA411A40696>200 <0081>620 <0807>]TJ 0 Tc 0 Tw -3.244 -1.231 Td <0F8C>Tj /T1_0 1 Tf 0.025 Tc 12.265 3.692 Td (The latest subsidy policy will )Tj T* (increase the amount of subsidy )Tj T* (for electric vehicles by 50%. )Tj T* (The maximum subsidy for pure )Tj T* (electric vehicles is 9,000 euro )Tj T* (\(lasting until the end of 2021\), )Tj T* (but the vehicle price shall be )Tj 0 -1.231 TD (less than 40,000 euro. 5,000 )Tj 0 -1.231 TD (euro is subsidized for vehicles )Tj T* (of which the prices are between )Tj T* (40,000 and 60,000 euro.)Tj -29.982 -2.462 Td (National Highway )Tj 1.254 -1.231 Td (Traffic Safety )Tj -0.025 Tw T* (Administration )Tj 0 Tw T* (\(NHTSA\) and )Tj -0.025 Tw T* (Environmental )Tj T* (Protection )Tj 0 Tw T* (Agency \(EPA\))Tj 13 0 0 13 175.748 392.3179 Tm (31 March 2020)Tj 10.4 0 0 13 269.2913 392.3179 Tm (Safer Affordable Fuel- )Tj T* (Efficient \(SAFE\) Vehicles )Tj -0.025 Tw T* (Rule)Tj 0 Tw 12.265 2.462 Td (In the future, the Safer )Tj T* (Affordable Fuel-Efficient )Tj T* (\(SAFE\) Vehicles Rule will )Tj T* (replace the Corporate Average )Tj T* (Fuel Economy \(CAFE\) )Tj T* (Standards. According to the )Tj T* (latest SAFE rule, automobile )Tj 0 -1.231 TD (manufacturers need to increase )Tj 0 -1.231 TD (the average fuel economy of )Tj T* (passenger vehicles and light )Tj T* (trucks by 1.5% per year from )Tj T* (2021 to 2026, and finally )Tj T* (reaching 40 mpg.)Tj ET endstreamendobj112 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 27 \226)Tj /T1_1 1 Tf 10.4 0 0 13 85.0394 770.8479 Tm (Issuing authority)Tj 8.722 0 Td (Issuing time)Tj 8.995 0 Td (Industrial policy)Tj -0.025 Tw 12.265 0 Td (Descriptions)Tj /T1_0 1 Tf 0 Tw -29.982 -2.423 Td (4 departments )Tj -0.025 Tw 1.254 -1.192 Td (including )Tj 0 Tw 0 -1.192 TD (Ministry of )Tj -0.025 Tw T* (Ecological )Tj T* (Environment)Tj 0 Tw 7.468 4.769 Td (14 May 2020)Tj 8.995 0 Td (Announcement on )Tj 0 -1.192 TD (Adjusting the Relevant )Tj 0 -1.192 TD (Requirements for )Tj T* (Implementing the Sixth )Tj T* (Stage National Emission )Tj T* (Standards for Light )Tj -0.025 Tw 0 -1.192 TD (Vehicles\()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 3.682 0 Td [<0090>200 <15EB05F5121C12C610C0>]TJ -3.682 -1.192 Td <06E804DB05130A3702AC0AB005F3117A0E5F>Tj 0 -1.192 TD [<0FBC074403DE15EB080504CB065902AE0453>200.1 <0091>]TJ /T1_0 1 Tf 0 Tc 0 Tw 11.387 0 Td (\))Tj 0.025 Tc 0.878 9.538 Td (The sixth stage national )Tj 0 -1.192 TD (emission standards for light )Tj 0 -1.192 TD (vehicles has been implemented )Tj T* (nationwide since 1 July 2020, )Tj T* (and the production of light )Tj T* (vehicles under the five stage )Tj 0 -1.192 TD (national emission standards will )Tj 0 -1.192 TD (be prohibited, and the imported )Tj T* (light vehicles shall meet the )Tj T* (sixth stage national emission )Tj -0.025 Tw 0 -1.192 TD (standards.)Tj 0 Tw -29.982 -2.385 Td (5 departments )Tj 1.254 -1.192 Td (including MIIT)Tj 7.468 1.192 Td (22 June 2020)Tj 8.995 0 Td (Decision on Revising the )Tj 0 -1.192 TD (Measures for the Parallel )Tj 0 -1.192 TD (Administration of the )Tj 0 -1.192 TD (Average Fuel Consumption )Tj -0.025 Tw 0 -1.231 TD (and )Tj 1.794 0 Td (Electric)Tj 0 Tw ( Vehicle )Tj -1.794 -1.192 Td (Credits of Passenger )Tj 0 -1.192 TD (Vehicle Enterprises\()Tj /C0_0 1 Tf -0.025 Tw 8.317 0 Td [<009015EB>-200 <05F5>]TJ 0.225 Tc -0.225 Tw -8.317 -1.192 Td [<084C04B7>700 <0094>200 <0831035C051303860E38033B0469>]TJ 0 -1.231 TD <12F708D8090A09830D8E107E>Tj <0F650A17>Tj 0 Tc 0 Tw <04DB>Tj 0.225 Tc -0.225 Tw 0 -1.192 TD [<0513131002B105280411104D0B23136C062C>200.1 <0095>]TJ T* [<065904D4059B>200 <0091>]TJ /T1_0 1 Tf 0 Tc 0 Tw 4.125 0 Td (\))Tj 0.025 Tc 8.14 12 Td (The requirements of electric )Tj T* (vehicle credit proportion from )Tj 0 -1.192 TD (2021 to 2023 are clarified, and )Tj 0 -1.192 TD (the requirements of electric )Tj T* (vehicle credit proportion in )Tj T* (2019, 2020, 2021, 2022 and )Tj T* (2023 are increased year by )Tj 0 -1.192 TD (year. The measures to guide )Tj 0 -1.192 TD (the energy saving of traditional )Tj T* (passenger vehicles are added, )Tj T* (and the enterprises producing/)Tj 0 -1.192 TD (supplying fuel efficient )Tj 0 -1.192 TD (vehicles are given preferential )Tj T* (accounting when calculating )Tj T* (the standard value of electric )Tj 0 -1.192 TD (vehicle credits. Passenger )Tj 0 -1.192 TD (vehicle enterprises can use )Tj T* (the positive credits of electric )Tj T* (vehicles generated in 2021 to )Tj T* (compensate the negative credits )Tj 0 -1.192 TD (of electric vehicles in 2020. )Tj 0 -1.192 TD (This decision is helpful for )Tj T* (automobile enterprises to make )Tj T* (reasonable arrangements based )Tj T* (on their own conditions to )Tj 0 -1.192 TD (better complete the assessment )Tj 0 -1.192 TD (requirements, further enhance )Tj T* (the enthusiasm of automobile )Tj T* (enterprises in the research )Tj 0 -1.192 TD (and development of electric )Tj 0 -1.192 TD (vehicles, so as to facilitate the )Tj T* (long-term healthy development )Tj T* (of the electric vehicle market.)Tj ET endstreamendobj111 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 26 \226)Tj 0.006 Tw 13 0 0 13 85.0394 776.3179 Tm (The important domestic policies recently issued relating to the electric\ vehicle are )Tj 0 Tw 0 -1.231 TD (as follows:)Tj /T1_1 1 Tf 10.4 0 0 13 85.0394 728.3179 Tm (Issuing authority)Tj 8.722 0 Td (Issuing time)Tj 8.995 0 Td (Industrial policy)Tj -0.025 Tw 12.265 0 Td (Descriptions)Tj /T1_0 1 Tf -29.982 -3.692 Td (MIIT)Tj 0 Tw 8.722 0 Td (7 April 2020)Tj 8.995 0 Td (Decision on revision of )Tj T* (Provisions on the Access )Tj T* (Administration of Electric )Tj T* (Vehicle Manufacturers and )Tj 0 -1.231 TD (Products \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 3.958 0 Td [<0090>200 <0F650A1704DB0513035B>]TJ -3.958 -1.231 Td <0B2A03860E3802BF0B2A06DC0858025D104D>Tj 0 -1.231 TD [<0B230B9D059B>200 <0091>]TJ /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.125 0 Td (\)\(Consultation )Tj -4.125 -1.231 Td (draft\))Tj 0 Tw 12.265 8.615 Td (To lower the entry threshold for )Tj T* (electric vehicles manufacturers, )Tj T* (the entry examination )Tj T* (requirements relating to \223design )Tj 0 -1.231 TD (and development capability\224 )Tj 0 -1.231 TD (in the provisions are deleted, )Tj T* (the provision that \223new pure )Tj T* (electric vehicle manufacturers )Tj T* (shall meet the provisions of )Tj T* (\221Regulations for the new Pure )Tj T* (Electric Passenger Vehicles\222\224 is )Tj -0.025 Tw T* (deleted.)Tj 0 Tw -29.982 -2.462 Td (3 departments )Tj -0.025 Tw 1.254 -1.231 Td (including )Tj 0 Tw T* (Ministry of )Tj -0.025 Tw T* (Finance)Tj 0 Tw 7.468 3.692 Td (22 April 2020)Tj 0.024 Tc 8.995 0 Td [(Announcement on Relevant)-1 ( )]TJ 0.025 Tc T* (policies for the Exemption )Tj T* (of Vehicle Purchase Tax )Tj T* (for Electric Vehicles \()Tj /C0_0 1 Tf -0.025 Tw 9.058 0 Td <009015EB>Tj 0.225 Tc -0.225 Tw -9.058 -1.231 Td <05F50F650A1704DB0513043505BC0513123F>Tj T* <14850EC40CFC03DE15EB07410D04065902AE>Tj 0.025 Tc -0.025 Tw T* <04530091>Tj /T1_0 1 Tf 0 Tc 0 Tw 1.675 0 Td (\))Tj 0.025 Tc 10.59 7.385 Td (From 1 January 2021 to 31 )Tj T* (December 2022, electric )Tj T* (vehicles purchased will be )Tj 0.021 Tc T* [(exempted from vehicle purchase)-4 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 TD (tax.)Tj 0 Tw -29.982 -4.923 Td (4 departments )Tj -0.025 Tw 1.254 -1.231 Td (including )Tj 0 Tw 0 -1.231 TD (Ministry of )Tj -0.025 Tw T* (Finance)Tj 0 Tw 7.468 3.692 Td (23 April 2020)Tj 8.995 0 Td (Notice on Improving the )Tj T* (Policies on Financial )Tj T* (Subsidies for Promotion )Tj T* (and Application of Electric )Tj T* (Vehicles \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 3.957 0 Td [<0090>200 <15EB05F504810D1B0F65>]TJ -3.957 -1.231 Td <0A1704DB05130AAA113F13D0035C09CC0741>Tj T* [<0EFE0D6807410D0406590BB7065D>200 <0091>]TJ /T1_0 1 Tf 0 Tc 0 Tw 9.025 0 Td (\))Tj 0.025 Tc 3.24 7.385 Td (The implementation period of )Tj T* (financial subsidy policy for )Tj T* (the promotion and application )Tj T* (of electric vehicles will be )Tj T* (extended to the end of 2022. On )Tj T* (this basis, the subsidy decline )Tj T* (will be eased. In principle, the )Tj 0.022 Tc T* [(maximum subsidy scale is about)-3 ( )]TJ 0.025 Tc T* (2 million vehicles per year. )Tj 0.022 Tc T* [(Before subsidy, the selling price)-3 ( )]TJ 0.025 Tc T* (of electric passenger vehicles )Tj 0 -1.231 TD (should be less than RMB0.3 )Tj 0 -1.231 TD (million \(including RMB0.3 )Tj -0.025 Tw T* (million\).)Tj ET endstreamendobj35 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj36 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj37 0 obj<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj38 0 obj<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj39 0 obj<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj124 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 25 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 55.3588 776.409 Tm [(3. )-1105.5 (Analysis of the electric vehicle market)]TJ /T1_0 1 Tf 0.047 Tc 0.07 Tw 13 0 0 13 85.0394 744.409 Tm [(According)12.1 ( to)12.1 ( the)12.2 ( statistics)12.2 ( of)12.2 ( the)12.2 ( \223Electric)12.2 ( Vehicle)12.2 ( Industry)12.2 ( Chain)12.1 ( Database\224)22 ( )]TJ 0.048 Tc 0 -1.231 TD [(released)12.8 ( by)12.8 ( Gaogong)12.8 ( Industry)12.8 ( Research)12.7 ( Institute)12.8 ( \(GGII\),)12.8 ( the)12.8 ( sales)12.8 ( of)12.8 ( electric)23 ( )]TJ 0.032 Tc 0.076 Tw T* [(passenger)7 ( )0.5 (vehicles)7.1 ( in)7 ( )0.5 (the)7 ( )0.5 (first)7 ( )0.5 (half)7 ( )0.5 (of)7 ( )0.5 (2)7 (0)7 (2)7 (0)7 ( )0.5 (amounted)7.1 ( )0.5 (to)7 ( )0.5 (approximately)7 ( )0.5 (8)7 (5)7 (1)7 (,)7 (0)7 (0)7 (0)7 ( )]TJ 0.061 Tc 0.07 Tw T* [(across)12.4 ( the)12.4 ( globe,)12.4 ( representing)12.4 ( a)12.4 ( year-on-year)12.5 ( decrease)12.4 ( of)12.4 ( 1)12.4 (6)12.4 (%.)12.5 ( The)12.4 ( overall)36 ( )]TJ T* [(outbreak)12.8 ( of)12.8 ( the)12.8 ( COVID-)12.8 (1)12.8 (9)12.8 ( pandemic)12.8 ( in)12.8 ( March)12.8 ( led)12.8 ( to)12.8 ( a)12.8 ( decline)12.8 ( in)12.8 ( the)12.8 ( sales)36 ( )]TJ 0.046 Tc T* [(of)12.1 ( electric)12.1 ( passenger)12.1 ( vehicles.)12.1 ( In)12.1 ( April,)12.1 ( with)12.1 ( the)12 ( expansion)12.1 ( of)12.1 ( the)12.1 ( COVID-)12.1 (1)12 (9)21 ( )]TJ 0.025 Tc 0.033 Tw T* (pandemic, the implementation of travel control all over Europe and Ameri\ca, and )Tj 0.051 Tw 0 -1.231 TD (the suspension of operation and production of all vehicle enterprises, c\ontributed )Tj 0.024 Tc 0 Tw 0 -1.231 TD [(to a sharp drop in sales volume of up to 34%. In May and June, the indus\try began)-1 ( )]TJ 0.025 Tc T* (to rebound. Relative specific movements are shown in the following table\:)Tj /T1_1 1 Tf 2.997 -2.462 Td (Analysis of the sales of the electric vehicles across the globe )Tj 3.429 -1.231 Td (from January to June 2020 \(10,000 vehicles\))Tj ET /PlacedGraphic /MC0 BDC EMC 0 0 0 0.149 K 0.75 w 1 j /GS1 gs q 1 0 0 1 113.3307 418.7695 cm 0 0 m 358.17 0 l 0 28.26 m 358.17 28.26 l 0 56.52 m 358.17 56.52 l 0 84.78 m 358.17 84.78 l 0 113.03 m 358.17 113.03 l S Q 0.732 0.463 0.102 0 k 128.001 478.11 13.38 -87.58 re 187.701 453.81 13.38 -63.28 re 247.401 506.37 13.38 -115.84 re 307.101 478.71 13.38 -88.18 re 366.741 485.49 13.44 -94.96 re 426.441 513.69 13.38 -123.16 re f 0.312 0.811 0.665 0.001 k 144.981 475.29 13.38 -84.76 re 204.681 459.45 13.38 -68.92 re 264.381 478.71 13.38 -88.18 re 324.081 448.71 13.38 -58.18 re 383.781 464.55 13.38 -74.02 re 443.481 497.91 13.38 -107.38 re f q 1 0 0 1 113.3307 390.5295 cm 0 0 m 358.17 0 l S Q 0.014 0.23 0.296 0 K 2.25 w 1 J q 1 0 0 1 143.1807 485.5499 cm 0 0 m 59.7 30.84 l 119.4 -53.94 l 179.1 -79.61 l 238.8 -48.78 l 298.47 -25.68 l S Q 0.78 w 0 J q 1 0 0 1 145.6407 483.08 cm 0 0 m -4.98 4.98 l -4.98 0 m 0 4.98 l 59.7 30.78 m 54.72 35.76 l 54.72 30.78 m 59.7 35.76 l 119.4 -53.94 m 114.42 -48.96 l 114.42 -53.94 m 119.4 -48.96 l 179.1 -79.621 m 174.12 -74.64 l 174.12 -79.621 m 179.1 -74.64 l 238.8 -48.84 m 233.82 -43.86 l 233.82 -48.84 m 238.8 -43.86 l 298.5 -25.68 m 293.52 -20.7 l 293.52 -25.68 m 298.5 -20.7 l S Q BT 0 0 0 0.749 k /T1_2 1 Tf 0 Tc 9 0 -0 9 147.1204 482.1705 Tm (15)Tj 6.253 -1.758 Td (12.2)Tj 6.633 2.136 Td (15.6)Tj 6.633 -3.329 Td (10.3)Tj 6.636 1.76 Td (13.1)Tj 7.013 3.704 Td (19)Tj -0.026 Tc 0.026 Tw -35.109 -0.813 Td (-3)Tj 0 Tc 0 Tw 0.807 0 Td (%)Tj 8.271 1.758 Td (9%)Tj 6.633 -9.42 Td (-)Tj 0.307 0 Td (24%)Tj 6.327 -2.853 Td (-)Tj 0.307 0 Td (34%)Tj 6.327 3.424 Td (-)Tj 0.307 0 Td (22%)Tj 6.327 2.569 Td (-)Tj 0.309 0 Td (13%)Tj ET q 95.881 352.679 403.514 183.99 re W n BT 0 0 0 0.651 k 9 0 -0 9 479.9007 387.9105 Tm (-40%)Tj 0 1.429 TD (-35%)Tj 0 1.427 TD (-30%)Tj 0 1.427 TD (-25%)Tj 0 1.427 TD (-20%)Tj 0 1.427 TD (-15%)Tj T* (-10%)Tj ET Q BT 0 0 0 0.651 k 9 0 -0 9 479.9007 477.8306 Tm (-5%)Tj 0 1.427 TD (0%)Tj 0 1.427 TD (5%)Tj 0 1.427 TD (10%)Tj ET q 95.881 352.679 403.514 183.99 re W n BT 9 0 -0 9 479.9007 529.1905 Tm (15%)Tj ET Q BT 9 0 -0 9 100.4408 387.9105 Tm (0)Tj 0 3.14 TD (5)Tj ET q 95.881 352.679 403.514 183.99 re W n BT 9 0 -0 9 95.8807 444.4302 Tm (10)Tj 0 3.14 TD (15)Tj 0 3.138 TD (20)Tj 0 3.14 TD (25)Tj ET Q BT 9 0 -0 9 136.3807 376.2105 Tm (1)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj /T1_2 1 Tf 6.129 0 Td (2)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj /T1_2 1 Tf 6.127 0 Td (3)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj /T1_2 1 Tf 6.127 0 Td (4)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj /T1_2 1 Tf 6.127 0 Td (5)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj /T1_2 1 Tf 6.127 0 Td (6)Tj /C0_0 1 Tf 0.507 0 Td <36B0>Tj ET 0.732 0.463 0.102 0 k 210.801 355.69 19.2 4.944 re f* BT 0 0 0 0.651 k /T1_2 1 Tf 9 0 -0 9 232.0407 355.9105 Tm (2019)Tj /C0_0 1 Tf 2.029 0 Td <2E1C>Tj ET 0.312 0.811 0.665 0.001 k 270.161 355.69 19.2 4.944 re f* BT 0 0 0 0.651 k /T1_2 1 Tf 9 0 -0 9 291.4207 355.9105 Tm (2020)Tj /C0_0 1 Tf 2.027 0 Td <2E1C>Tj ET 2.25 w 1 J q 1 0 0 1 329.5207 358.1595 cm 0 0 m 19.2 0 l S Q 0.75 w 0 J q 1 0 0 1 341.6007 355.6495 cm 0 0 m -4.98 4.98 l -4.98 0 m 0 4.98 l S Q 0 0 0 0 k 250.561 352.679 8.883 13.559 re f BT 0 0 0 1 k /T1_2 1 Tf 7.98 0 -0 7.98 357.8607 357.7905 Tm (Year)Tj -0.025 Tc 0.025 Tw 1.812 0 Td (-o)Tj 0.054 Tc -0.054 Tw 0.807 0 Td (n-)Tj 0 Tc 0 Tw 0.862 0 Td (year )Tj 1.98 0 Td (growth)Tj ET 0 0 0 0 k 178.561 368.569 52.361 20.104 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 185.7806 375.5105 Tm (Febuar)Tj 2.778 0 Td (y)Tj ET 0 0 0 0 k 243.551 366.7 45.816 21.507 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 250.7807 375.0505 Tm (Marc)Tj (h)Tj ET 0 0 0 0 k 303.861 368.569 42.547 19.169 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 311.1007 374.5905 Tm (Apri)Tj 1.832 0 Td (l)Tj ET 0 0 0 0 k 364.641 369.509 36.467 19.637 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 371.8807 375.9905 Tm (May)Tj ET 0 0 0 0 k 425.421 372.31 34.599 17.299 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 432.6606 376.4505 Tm (June)Tj ET 0 0 0 0 k 310.661 354.5 10.25 12.6 re f* 115.661 367.099 48.65 23.4 re f* BT 0 0 0 1 k 10.02 0 -0 10.02 122.8607 375.6705 Tm (January)Tj 3.126 0 Td ( )Tj /GS0 gs /T1_0 1 Tf 0.025 Tc 11 0 0 11 85.0394 324.6794 Tm (Source: Gaogong Industry Research Institute \(GGII\))Tj 0.049 Tw 13 0 0 13 85.0394 292.6794 Tm (China\222s electric vehicle market was greatly affected by its policies.\ According to )Tj 0.028 Tc 0.08 Tw 0 -1.231 TD [(t)0.5 (h)0.5 (e)3 ( )0.5 (d)0.5 (a)0.5 (t)0.5 (a)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (C)0.5 (h)0.5 (i)0.5 (n)0.5 (a)3 ( )0.5 (A)0.6 (ss)0.5 (o)0.5 (c)0.6 (ia)0.5 (t)0.5 (i)0.5 (o)0.5 (n)3 ( )0.5 (o)0.5 (f)3 ( )0.6 (A)0.5 (u)0.5 (t)0.5 (o)0.5 (mo)0.5 (b)0.5 (i)0.5 (l)0.5 (e)3 ( )0.5 (M)0.5 (a)0.6 (n)0.5 (uf)0.5 (a)0.6 (c)0.5 (t)0.5 (u)0.5 (r)0.5 (e)0.5 (r)0.5 (s)0.5 (,)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (d)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)3 ( )0.5 (a)0.5 (n)0.5 (d)3 ( )]TJ 0.04 Tc 0.07 Tw T* [(sales)12.8 ( of)12.8 ( China\222s)12.9 ( electric)12.9 ( vehicles)12.9 ( amounted)12.9 ( to)12.9 ( 0)12.8 (.)12.9 (3)12.8 (9)12.9 (7)12.9 ( million)12.9 ( and)12.8 ( 0)12.8 (.)12.9 (3)12.9 (9)12.8 (3)12.9 ( million)15 ( )]TJ 0.027 Tc 0.081 Tw T* [(respectively)1.9 ( )0.5 (from)2 ( )0.5 (January)2 ( )0.5 (to)1.9 ( )0.5 (June)2.1 ( 2)2 (0)2 (2)2 (0)2 (,)2 ( )0.5 (representing)2 ( a)2.1 ( year-on-year)2 ( )0.5 (decrease)2 ( )0.5 (of)2 ( )]TJ 0.045 Tc 0.07 Tw T* [(3)12.2 (6)12.1 (.)12.2 (5)12.1 (%)12.2 ( and)12.2 ( 3)12.2 (7)12.2 (.)12.1 (4)12.2 (%)12.1 ( respectively.)12.2 ( In)12.1 ( particular,)12.1 ( the)12.2 ( production)12.2 ( and)12.1 ( sales)12.1 ( of)12.1 ( pure)20 ( )]TJ 0.048 Tc T* [(e)0.5 (l)0.5 (e)0.5 (c)0.6 (tr)0.6 (i)0.5 (c)13 ( )0.5 (v)0.5 (e)0.5 (h)0.5 (i)0.5 (c)0.5 (l)0.5 (e)0.5 (s)13.1 ( )0.5 (a)0.5 (m)0.5 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (0)13 (.)13 (3)13 (0)13 (1)13 ( )0.6 (mi)0.5 (l)0.5 (l)0.6 (i)0.5 (o)0.5 (n)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (0)13 (.)13 (3)13 (0)13 (4)13 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)0.5 (,)13 ( )0.5 (r)0.5 (e)0.6 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (e)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (a)23 ( )]TJ 0.053 Tc T* [(year-on-year)12.6 ( decrease)12.5 ( of)12.5 ( 4)12.5 (0)12.5 (.)12.5 (3)12.5 (%)12.5 ( and)12.5 ( 3)12.5 (9)12.5 (.)12.5 (2)12.5 (%,)12.5 ( respectively;)12.4 ( and)12.5 ( the)12.6 ( production)28 ( )]TJ 0.051 Tc T* [(a)0.5 (n)0.5 (d)13.1 ( )0.5 (s)0.5 (a)0.5 (l)0.5 (e)0.6 (s)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (p)0.6 (l)0.5 (u)0.5 (g)0.5 (-)0.5 (i)0.5 (n)13 ( )0.6 (h)0.5 (y)0.5 (b)0.5 (r)0.5 (i)0.5 (d)13 ( )0.6 (e)0.5 (l)0.5 (e)0.5 (c)0.6 (t)0.5 (r)0.5 (i)0.5 (c)13 ( )0.5 (v)0.6 (e)0.5 (h)0.5 (i)0.5 (c)0.5 (l)0.6 (e)0.5 (s)13 ( )0.5 (a)0.5 (m)0.6 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (e)0.5 (d)13 ( )0.6 (t)0.5 (o)13 ( )0.5 (9)13 (5)13 (,)13 (0)13.1 (0)13 (0)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.6 (8)13 (8)13 (,)13 (0)13 (0)13 (0)13.1 (,)25.9 ( )]TJ 0.025 Tc 0 Tw T* (representing a year-on-year decrease of 20% and 29.8%, respectively.)Tj ET endstreamendobj127 0 obj<>endobj128 0 obj<>stream application/postscript User A2020-08-001 Ganfeng Lithium C61-82.eps 2020-08-10T19:05:26+08:00 Adobe Illustrator CC 2014 (Windows) 2020-08-10T19:05:26+08:00 2020-08-10T19:05:26+08:00 Microsoft® Word 2013 xmp.did:54595da4-9b36-df4f-9f99-8d22ee112d67 xmp.iid:54595da4-9b36-df4f-9f99-8d22ee112d67 proof:pdf uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 uuid:b2490512-5d42-411c-aaa9-8f446ba3fb11 uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 proof:pdf saved xmp.iid:54595da4-9b36-df4f-9f99-8d22ee112d67 2020-08-10T19:05:26+08:00 Adobe Illustrator CC 2014 (Windows) / 1 False False 210.015669 297.010661 Millimeters TimesNewRomanPSMT Times New Roman Regular Open Type Version 5.07 False times_4.ttf PMingLiU 新細明體 Regular TrueType Version 7.00 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13 0 0 13 85.0394 776.3179 Tm [(Meanwhile,)12.4 ( the)12.4 ( prices)12.4 ( of)12.4 ( major)12.4 ( lithium)12.5 ( compounds)12.4 ( remained)12.4 ( relatively)12.4 ( stable)19 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 TD [(in)3 ( )0.5 (international)3.1 ( market.)3 ( )0.5 (In)3 ( )0.5 (Asian)3 ( )0.5 (market,)3 ( )0.5 (for)3 ( )0.5 (example,)3 ( )0.6 (the)3 ( )0.5 (CIF)3 ( )0.5 (prices)3 ( )0.5 (of)3 ( )0.5 (lithium)3 ( )]TJ 0.049 Tc 0.07 Tw T* [(carbonate)12.9 ( and)12.9 ( lithium)12.9 ( hydroxide)12.9 ( experienced)12.9 ( a)12.9 ( gradual)12.8 ( decline)12.8 ( in)12.9 ( the)12.9 ( second)24 ( )]TJ 0.025 Tc 0.038 Tw T* (half of 2018, and then slowed down in the end of 2019; the CIF prices of\ lithium )Tj 0.053 Tw T* (carbonate and lithium hydroxide have gradually stabilized since the begi\nning of )Tj 0 Tw T* (2020. Relative specific movements are shown in the following table:)Tj /T1_1 1 Tf -1.389 -2.462 Td (CIF prices of lithium carbonate and lithium hydroxide in Asia \(Unit: US\D/ton\))Tj ET /PlacedGraphic /MC0 BDC EMC q 98.973 334.147 397.329 314.431 re W n 0 0 0 0.149 K 0.75 w 1 j /GS1 gs q 1 0 0 1 130.1028 441.0983 cm 0 0 m 366.2 0 l 0 50.64 m 366.2 50.64 l 0 101.28 m 366.2 101.28 l 0 151.98 m 366.2 151.98 l 0 202.6 m 366.2 202.6 l 0 -50.65 m 366.2 -50.65 l S Q Q 0.732 0.463 0.102 0 K 2.25 w 1 j 1 J /GS1 gs q 1 0 0 1 136.2028 600.6487 cm 0 0 m 12.23 -5.05 l 24.41 -5.05 l 36.65 -17.71 l 48.83 -22.81 l 61.01 -30.37 l 73.25 -35.47 l 85.43 -58.27 l 97.67 -63.31 l 109.85 -67.09 l 122.09 -72.19 l 134.27 -70.93 l 146.51 -73.45 l 158.69 -78.49 l 170.87 -75.97 l 183.11 -75.97 l 195.29 -82.33 l 207.53 -87.37 l 219.71 -97.51 l 231.95 -98.77 l 244.13 -100.03 l 256.37 -106.39 l 268.55 -107.89 l 280.73 -116.47 l 292.97 -122.83 l 305.15 -120.31 l 317.39 -121.57 l 329.57 -125.36 l 341.81 -120.79 l 354 -124.09 l S Q 0.312 0.811 0.665 0.001 K q 1 0 0 1 136.2028 598.1187 cm 0 0 m 12.23 0 l 24.41 2.53 l 36.65 0 l 48.83 0 l 61.01 -2.52 l 73.25 -2.52 l 85.43 -5.04 l 97.67 -17.76 l 109.85 -17.76 l 122.09 -35.46 l 134.27 -40.5 l 146.51 -43.08 l 158.69 -45.6 l 170.87 -55.74 l 183.11 -58.26 l 195.29 -64.56 l 207.53 -65.88 l 219.71 -68.4 l 231.95 -69.42 l 244.13 -71.94 l 256.37 -75.96 l 268.55 -81.06 l 280.73 -86.1 l 292.97 -97.5 l 305.15 -93.72 l 317.39 -100.02 l 329.57 -106.37 l 341.81 -103.86 l 354 -101.28 l S Q BT 0 0 0 0.651 k /T1_2 1 Tf 0 Tc 9 0 -0 9 117.2125 387.8193 Tm (0)Tj -1.52 5.629 Td (5000)Tj ET q 98.973 334.147 397.33 314.431 re W n BT 9 0 -0 9 98.9728 489.1393 Tm (10000)Tj 0 5.629 TD (15000)Tj 0 5.627 TD (20000)Tj 0 5.629 TD (25000)Tj ET Q BT 0.001 Tc -0.001 Tw -0 9 -9 -0 139.3122 360.9193 Tm (Jan-18)Tj 0 Tc 0 Tw -0.16 -1.356 Td (Feb-18)Tj -0.2 -1.358 Td (Mar-18)Tj 0.231 -1.356 Td (Apr-18)Tj -0.333 -1.358 Td (May-18)Tj 0.001 Tc -0.001 Tw 0.416 -1.355 Td (Jun-18)Tj 0 Tc 0 Tw 0.296 -1.356 Td (Jul-18)Tj -0.5 -1.358 Td (Aug-18)Tj 0.091 -1.356 Td (Sep-18)Tj 0.064 -1.358 Td (Oct-18)Tj -0.204 -1.356 Td (Nov-18)Tj 0.089 -1.356 Td (Dec-1)Tj (8)Tj 0.001 Tc -0.001 Tw 0.211 -1.358 Td (Jan-19)Tj 0 Tc 0 Tw -0.16 -1.356 Td (Feb-19)Tj -0.2 -1.358 Td (Mar-19)Tj 0.231 -1.356 Td (Apr-19)Tj -0.334 -1.356 Td (May-19)Tj 0.001 Tc -0.001 Tw 0.416 -1.358 Td (Jun-19)Tj 0 Tc 0 Tw 0.296 -1.356 Td (Jul-19)Tj -0.5 -1.358 Td (Aug-19)Tj 0.091 -1.356 Td (Sep-19)Tj 0.064 -1.358 Td (Oct-19)Tj -0.204 -1.356 Td (Nov-19)Tj 0.089 -1.356 Td (Dec-1)Tj (9)Tj 0.001 Tc -0.001 Tw 0.211 -1.358 Td (Jan-20)Tj 0 Tc 0 Tw -0.16 -1.356 Td (Feb-20)Tj -0.2 -1.358 Td (Mar-20)Tj 0.231 -1.356 Td (Apr-20)Tj -0.334 -1.356 Td (May-20)Tj ET q 98.973 334.147 397.33 314.431 re W n BT 0.001 Tc -0.001 Tw -0 9 -9 -0 493.3517 360.4993 Tm (Jun-20)Tj ET Q 0.732 0.463 0.102 0 K q 1 0 0 1 216.0228 343.8383 cm 0 0 m 19.2 0 l S Q 0.312 0.811 0.665 0.001 K q 1 0 0 1 305.0228 343.8383 cm 0 0 m 19.2 0 l S Q BT 0 0 0 1 k -0.002 Tc 7.02 0 -0 7.02 244.5128 344.8803 Tm (CIF price of)Tj 0 Tc 4.88 0 Td ( )Tj ET q 98.973 334.147 397.33 314.431 re W n BT -0.001 Tc 7.02 0 -0 7.02 244.5128 336.3003 Tm (lithium carbonat)Tj 0 Tc 6.568 0 Td (e)Tj ET Q BT -0.001 Tc 7.02 0 -0 7.02 333.6528 343.5193 Tm (CIF price of lithium hydroxid)Tj 0 Tc 11.855 0 Td (e)Tj /GS0 gs /T1_0 1 Tf 0.025 Tc 11 0 0 11 85.0394 304.1462 Tm (Source: Benchmark)Tj 0.042 Tc 0.07 Tw 13 0 0 13 85.0394 272.1463 Tm [(The)12.7 ( reduction)12.7 ( of)12.7 ( China\222s)12.7 ( government)12.7 ( subsidies)12.7 ( for)12.7 ( electric)12.7 ( vehicles)12.7 ( has)12.7 ( had)12.7 ( a)17 ( )]TJ 0.043 Tc T* [(substantial)12.3 ( impact)12.2 ( on)12.2 ( electric)12.3 ( vehicle)12.3 ( market,)12.2 ( especially)12.2 ( at)12.2 ( the)12.3 ( low-end)12.3 ( of)12.3 ( the)18 ( )]TJ 0.06 Tc T* [(electric)12.6 ( vehicle)12.7 ( market.)12.7 ( The)12.7 ( elimination)12.7 ( of)12.6 ( subsidies)12.6 ( for)12.7 ( low-range)12.7 ( electric)35 ( )]TJ 0.039 Tc T* [(vehicles)12.7 ( resulted)12.7 ( in)12.7 ( lower)12.7 ( demand)12.7 ( for)12.7 ( lithium)12.7 ( compounds)12.7 ( among)12.7 ( smaller)12.7 ( local)14 ( )]TJ 0.046 Tc T* [(electric)12.2 ( vehicles)12.2 ( manufacturers.)12.2 ( At)12.2 ( present,)12.2 ( as)12.2 ( the)12.2 ( impact)12.2 ( of)12.1 ( subsidy)12.2 ( cuts)12.2 ( has)21 ( )]TJ 0.04 Tc T* [(gradually)12.7 ( been)12.7 ( weakened)12.7 ( in)12.7 ( the)12.8 ( domestic)12.7 ( market,)12.7 ( the)12.7 ( industry)12.7 ( appears)12.7 ( to)12.7 ( have)15 ( )]TJ 0.035 Tc 0.073 Tw T* [(st)0.5 (ab)0.5 (ili)0.5 (ze)0.5 (d)10 ( )0.5 (an)0.5 (d)10 ( )0.5 (the)10 ( )0.6 (lit)0.5 (hiu)0.5 (m)10 ( )0.5 (co)0.5 (mpo)0.5 (und)10 ( )0.5 (m)0.5 (ar)0.5 (ket)10.1 ( )0.5 (has)10.1 ( )0.5 (gra)0.5 (du)0.5 (all)0.5 (y)10 ( )0.5 (re)0.5 (su)0.5 (me)0.5 (d)9.9 ( )0.6 (the)10 ( )0.5 (b)0.5 (al)0.5 (anc)0.5 (e)10 ( )]TJ 0.042 Tc 0.07 Tw T* [(between)12.2 ( supply)12.2 ( and)12.1 ( demand.)12.1 ( As)12.2 ( a)12.2 ( leading)12.1 ( enterprise)12.2 ( in)12.1 ( the)12.2 ( lithium)12.1 ( compound)17 ( )]TJ 0.025 Tc 0.066 Tw T* (deep-processing business, the Company, capitalizing on the opportunities\ arising )Tj 0.048 Tc 0.07 Tw 0 -1.231 TD [(from)12.4 ( industry)12.4 ( reshuffle,)12.4 ( continues)12.4 ( to)12.4 ( enhance)12.5 ( its)12.4 ( competitiveness)12.5 ( and)12.4 ( further)23 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (cement and improves its industrial position.)Tj ET endstreamendobj123 0 obj<>endobj137 0 obj<>stream application/postscript User A2020-08-001 Ganfeng Lithium C61-82.eps 2020-08-10T19:03:37+08:00 Adobe Illustrator CC 2014 (Windows) 2020-08-10T19:03:37+08:00 2020-08-10T19:03:37+08:00 Microsoft® Word 2013 xmp.did:588f1063-d1d5-5346-a9c7-a59f8909d6e5 xmp.iid:588f1063-d1d5-5346-a9c7-a59f8909d6e5 proof:pdf uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 uuid:b2490512-5d42-411c-aaa9-8f446ba3fb11 uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 uuid:f76b42cd-d6c8-4be9-8408-560fc63a81d0 proof:pdf saved xmp.iid:588f1063-d1d5-5346-a9c7-a59f8909d6e5 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    YĈ)>{xG[${{R0rFunsMյm`d4弝?,(#3tC;}6 x {{\WDL endstreamendobj118 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 23 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 55.3588 776.409 Tm [(2. )-1105.5 (Analysis of the lithium compound market)]TJ /T1_0 1 Tf 0.071 Tc 0.07 Tw 13 0 0 13 85.0394 744.409 Tm [(In)12.9 ( recent)12.9 ( years,)12.9 ( prices)12.9 ( of)12.9 ( major)12.9 ( lithium)12.9 ( compounds)12.9 ( have)12.9 ( been)12.9 ( fluctuating)46 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 TD [(violently)9 ( )0.5 (in)9 ( )0.5 (China)9 ( )0.5 (market.)9 ( )0.5 (The)9 ( )0.5 (prices)9 ( )0.5 (for)9 ( )0.5 (major)9 ( )0.5 (lithium)9 ( )0.5 (compounds)9 ( )0.6 (have)9 ( )0.5 (fallen)8.9 ( )]TJ 0.027 Tc 0.081 Tw T* [(from)2 ( )0.5 (a)2 ( )0.5 (high)2 ( )0.5 (point)2 ( )0.5 (since)2 ( )0.5 (2)2 (0)2 (1)2 (8)2 ( )0.5 (as)2 ( )0.5 (a)2 ( )0.5 (result)2 ( )0.5 (of)2 ( )0.5 (the)2.1 ( proactive)2 ( )0.5 (capacity)2 ( )0.5 (expansions)2 ( )0.5 (of)2 ( )]TJ 0.024 Tc 0 Tw T* [(d)0.5 (om)0.5 (e)0.5 (st)0.5 (i)0.5 (c)0.5 ( a)0.5 (n)0.5 (d )0.5 (o)0.5 (ve)0.5 (r)0.5 (s)0.5 (ea)0.5 (s)0.5 ( )0.5 (li)0.5 (t)0.5 (hi)0.5 (u)0.5 (m )0.5 (sa)0.5 (l)0.5 (t)0.5 ( v)0.5 (e)0.5 (nd)0.5 (o)0.5 (r)0.5 (s )0.5 (a)0.5 (nd)0.5 ( )0.5 (we)0.5 (a)0.5 (k)0.5 (er)0.5 (-)0.5 (t)0.5 (ha)0.5 (n)0.5 (-e)0.5 (x)0.5 (p)0.5 (ec)0.5 (t)0.5 (e)0.5 (d )0.5 (d)0.5 (em)0.5 (a)0.5 (nd)0.5 ( )0.5 (du)0.5 (e)-1 ( )]TJ 0.025 Tc 0.05 Tw T* (to subsidy cuts in China. According to the data from the website of Asia\n Metal, )Tj 0.026 Tc 0.082 Tw T* [(the)1 ( )0.5 (price)1.1 ( )0.5 (of)1.1 ( )0.5 (lithium)1 ( )0.5 (carbonate)1 ( )0.5 (has)1 ( )0.5 (been)1 ( )0.5 (declined)1 ( )0.5 (sharply)1 ( )0.5 (since)1 ( )0.5 (April)1 ( )0.5 (2)1 (0)1 (1)1 (8)1 ( )0.5 (in)1 ( )0.5 (the)1 ( )]TJ T* [(C)0.5 (h)0.6 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (e)1 ( )0.6 (m)0.5 (a)0.5 (r)0.6 (k)0.5 (e)0.5 (t)0.6 (;)1 ( )0.5 (d)0.5 (u)0.6 (r)0.5 (i)0.5 (n)0.6 (g)1 ( )0.5 (t)0.5 (h)0.5 (e)1 ( )0.6 (R)0.5 (e)0.5 (p)0.6 (o)0.5 (r)0.5 (t)0.6 (i)0.5 (n)0.6 (g)0.9 ( )0.6 (P)0.5 (e)0.5 (r)0.6 (i)0.5 (o)0.5 (d)0.6 (,)1 ( )0.5 (p)0.5 (r)0.5 (i)0.6 (c)0.5 (e)1 ( )0.5 (o)0.6 (f)1 ( )0.5 (m)0.5 (a)0.6 (j)0.5 (o)0.5 (r)1 ( )0.6 (l)0.5 (i)0.5 (t)0.5 (h)0.6 (i)0.5 (u)0.5 (m)1 ( )0.5 (c)0.6 (o)0.5 (m)0.6 (p)0.5 (o)0.5 (u)0.6 (n)0.5 (d)0.5 (s)1 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.231 TD [(continued)12.4 ( to)12.4 ( trend)12.4 ( down)12.4 ( in)12.4 ( the)12.4 ( Chinese)12.3 ( market,)12.4 ( and)12.4 ( price)12.4 ( of)12.4 ( lithium)12.4 ( carbonate)13 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 TD [(and)6 ( )0.5 (lithium)6 ( )0.5 (hydroxide)6.1 ( )0.5 (has)6 ( )0.5 (experienced)6 ( )0.5 (a)6 ( )0.6 (gradual)6 ( )0.5 (decline)6 ( )0.5 (since)6 ( )0.5 (the)6 ( )0.5 (beginning)6 ( )0.5 (of)6.1 ( )]TJ 0.025 Tc 0 Tw T* (2020. Specific movements are shown in the following table:)Tj /T1_1 1 Tf -2.053 -2.462 Td (Spot prices of lithium carbonate and lithium hydroxide in China \(Unit: \RMB/ton\))Tj ET /PlacedGraphic /MC0 BDC EMC q 98.398 335.317 398.48 217.353 re W n 0 0 0 0.149 K 0.75 w 1 j /GS1 gs q 1 0 0 1 134.0878 411.0904 cm 0 0 m 362.09 0 l 0 17.1 m 362.09 17.1 l 0 34.2 m 362.09 34.2 l 0 51.299 m 362.09 51.299 l 0 68.34 m 362.09 68.34 l 0 85.439 m 362.09 85.439 l 0 102.54 m 362.09 102.54 l 0 119.639 m 362.09 119.639 l 0 136.7 m 362.09 136.7 l 0 -17.07 m 362.09 -17.07 l 0 -17.07 m 0 -19.93 l 12.33 -17.07 m 12.33 -19.93 l 23.43 -17.07 m 23.43 -19.93 l 35.73 -17.07 m 35.73 -19.93 l 47.67 -17.07 m 47.67 -19.93 l 59.97 -17.07 m 59.97 -19.93 l 71.85 -17.07 m 71.85 -19.93 l 84.15 -17.07 m 84.15 -19.93 l 96.45 -17.07 m 96.45 -19.93 l 108.39 -17.07 m 108.39 -19.93 l 120.69 -17.07 m 120.69 -19.93 l 132.63 -17.07 m 132.63 -19.93 l 144.93 -17.07 m 144.93 -19.93 l 157.23 -17.07 m 157.23 -19.93 l 168.33 -17.07 m 168.33 -19.93 l 180.63 -17.07 m 180.63 -19.93 l 192.57 -17.07 m 192.57 -19.93 l 204.87 -17.07 m 204.87 -19.93 l 216.75 -17.07 m 216.75 -19.93 l 229.11 -17.07 m 229.11 -19.93 l 241.41 -17.07 m 241.41 -19.93 l 253.29 -17.07 m 253.29 -19.93 l 265.59 -17.07 m 265.59 -19.93 l 277.53 -17.07 m 277.53 -19.93 l 289.83 -17.07 m 289.83 -19.93 l 302.13 -17.07 m 302.13 -19.93 l 313.65 -17.07 m 313.65 -19.93 l 325.95 -17.07 m 325.95 -19.93 l 337.89 -17.07 m 337.89 -19.93 l 350.19 -17.07 m 350.19 -19.93 l 362.09 -17.07 m 362.09 -19.93 l S Q Q q 134.058 393.27 362.82 154.56 re W n 0.732 0.463 0.102 0 K 2.25 w 1 j 1 J /GS1 gs q 1 0 0 1 134.6777 535.83 cm 0 0 m 0.4 0 l 0.82 0 l 1.18 -1.68 l 2.38 -1.68 l 2.8 -3.84 l 3.16 -3.84 l 3.58 -3.84 l 4 -3.84 l 5.14 -6.42 l 5.56 -6.42 l 5.98 -6.42 l 6.34 -6.42 l 6.76 -8.1 l 7.96 -8.1 l 8.32 -8.1 l 8.74 -9.84 l 9.16 -9.84 l 9.52 -9.84 l 10.72 -9.84 l 11.14 -9.84 l 11.5 -9.84 l 11.92 -9.84 l 12.34 -9.84 l 13.48 -9.84 l 13.9 -9.84 l 14.32 -9.84 l 14.68 -9.84 l 15.1 -9.84 l 20.26 -9.84 l 20.68 -9.84 l 21.04 -9.84 l 21.82 -9.84 l 22.24 -9.84 l 22.66 -9.84 l 23.02 -9.84 l 23.44 -9.84 l 24.64 -9.84 l 25 -9.84 l 25.42 -9.84 l 25.84 -9.84 l 26.2 -9.84 l 27.4 -9.84 l 27.82 -9.84 l 28.18 -9.84 l 28.6 -9.84 l 28.96 -9.84 l 30.16 -9.84 l 30.58 -9.84 l 31 -9.84 l 31.36 -9.84 l 31.78 -9.84 l 32.98 -9.84 l 33.34 -9.84 l 33.76 -9.84 l 34.12 -9.84 l 34.54 -9.84 l 35.74 -9.84 l 36.16 -10.68 l 36.52 -10.68 l 38.14 -10.68 l 38.5 -10.68 l 38.92 -10.68 l 39.34 -10.68 l 39.7 -12.36 l 40.12 -14.1 l 41.32 -16.68 l 41.68 -16.68 l 42.1 -16.68 l 42.46 -16.68 l 42.88 -16.68 l 44.08 -16.68 l 44.5 -17.52 l 44.86 -17.52 l 45.28 -19.2 l 45.64 -19.2 l 46.06 -19.2 l 47.62 -20.52 l 48.04 -21.36 l 48.46 -21.36 l 49.66 -21.36 l 50.02 -21.36 l 50.44 -21.36 l 50.8 -21.36 l 51.22 -21.36 l 52.42 -21.36 l 52.78 -21.36 l 53.2 -21.36 l 53.62 -21.36 l 53.98 -21.36 l 55.18 -21.36 l 55.6 -21.36 l 55.96 -21.36 l 56.38 -21.36 l 56.8 -21.36 l 58 -23.04 l 58.36 -25.62 l 58.78 -28.2 l 59.14 -28.2 l 59.56 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Well-developed salt lakes are mainly found in the lithium\ delta of )Tj 0 Tw T* (South America and in China, while the majority of lithium mines are conc\entrated )Tj 0.031 Tc 0.077 Tw T* [(in)6 ( )0.5 (Western)6 ( )0.5 (Australia.)6 ( )0.5 (According)6 ( )0.5 (to)6 ( )0.5 (the)6 ( )0.5 (research)6 ( )0.5 (report)6 ( )0.5 (of)6 ( )0.5 (Minmetals)6 ( )0.5 (Securities,)6 ( )]TJ 0.052 Tc 0.07 Tw T* [(from)12.9 ( 2)12.8 (0)12.9 (1)12.9 (5)12.8 ( to)12.8 ( 2)12.9 (0)12.8 (1)12.9 (9)12.9 (,)12.8 ( the)12.9 ( global)12.9 ( output)12.9 ( of)12.9 ( ore)12.9 ( lithium)12.8 ( in)12.8 ( concentrate)12.9 ( increased)27 ( )]TJ 0.025 Tc 0.03 Tw T* [(significantly from )0.5 (61,000 )0.5 (tons LCE )0.5 (to )0.5 (258,000 tons )0.5 (LCE, )0.5 (while the global )0.5 (output )]TJ 0.03 Tc 0.078 Tw T* [(of)5 ( )0.5 (salt-lake)5 ( )0.5 (lithium)5 ( )0.5 (grew)5 ( )0.5 (from)5 ( )0.5 (9)5 (7)5 (,)5 (0)5 (0)5 (0)5 ( )0.5 (tons)5 ( )0.5 (LCE)5.1 ( )0.5 (to)5 ( )0.5 (1)5 (7)5 (8)5 (,)5 (0)5 (0)5 (0)5 ( )0.5 (tons)5 ( )0.5 (LCE.)5 ( )0.5 (In)5 ( )0.5 (recent)5 ( )]TJ 0.057 Tc 0.07 Tw 0 -1.231 TD [(years,)12.6 ( the)12.7 ( growing)12.7 ( demand)12.7 ( for)12.7 ( lithium)12.7 ( chemicals)12.7 ( has)12.7 ( been)12.7 ( largely)12.7 ( met)12.6 ( with)32 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 TD [(increased)3 ( )0.5 (production)3 ( )0.5 (of)3.1 ( )0.5 (lithium)3 ( )0.5 (ore)3 ( )0.6 (which)3 ( )0.5 (is)3 ( )0.5 (used)3 ( )0.5 (as)3 ( )0.5 (a)3 ( )0.5 (feedstock)3 ( )0.5 (in)3 ( )0.5 (downstream)3 ( )]TJ 0.047 Tc 0.07 Tw T* [(lithium)12.4 ( chemical)12.4 ( production.)12.4 ( In)12.4 ( comparison)12.4 ( to)12.4 ( lithium)12.5 ( products)12.4 ( derived)12.4 ( from)22 ( )]TJ 0.045 Tc T* [(salt)12.9 ( lakes,)12.9 ( lithium)12.9 ( mines)12.9 ( have)12.9 ( a)12.9 ( relatively)12.8 ( shorter)12.9 ( timeline)12.9 ( to)12.8 ( produce)12.9 ( lithium)20 ( )]TJ 0.025 Tc -0.025 Tw T* (products.)Tj 0 Tw 13 0 3.4833 13 83.7052 472.409 Tm [(\(1\) )-664.5 (Market of spodumene concentrate)]TJ 0.034 Tc 0.074 Tw 13 0 0 13 113.3858 440.409 Tm [(During)9 ( )0.5 (the)9 ( )0.5 (past)9 ( )0.5 (three)9.1 ( )0.5 (years,)8.9 ( )0.6 (several)8.9 ( )0.6 (new)9 ( )0.6 (lithium)9 ( )0.5 (mines)9 ( )0.5 (located)9 ( )0.5 (in)9 ( )0.5 (Western)9 ( )]TJ 0.085 Tc 0.07 Tw T* [(Australia)12.9 ( were)12.8 ( brought)12.9 ( into)12.9 ( production,)12.9 ( and)12.9 ( some)12.9 ( existing)12.9 ( projects)60 ( )]TJ 0.025 Tc 0.077 Tw T* (announced or executed on expansion plans. This new supply had an impact \)Tj 0.048 Tc 0.07 Tw T* [(on)12.4 ( the)12.4 ( spodumene)12.4 ( market,)12.3 ( creating)12.4 ( oversupply)12.3 ( conditions)12.4 ( of)12.4 ( spodumene)23 ( )]TJ 0.031 Tc 0.077 Tw T* [(which)6 ( )0.5 (persist)6 ( )0.5 (today.)6 ( )0.5 (According)6 ( )0.5 (to)6 ( )0.5 (the)6 ( )0.5 (data)6.1 ( )0.5 (on)6.1 ( )0.5 (Fastmarket,)6 ( )0.5 (as)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (end)6 ( )0.5 (of)6 ( )]TJ 0.04 Tc 0.07 Tw T* [(June)12.2 ( 2)12.3 (0)12.2 (2)12.2 (0)12.2 (,)12.2 ( the)12.2 ( domestic)12.3 ( CIF)12.3 ( price)12.2 ( of)12.2 ( 5)12.3 (%-)12.2 (6)12.3 (%)12.2 ( spodumene)12.2 ( concentrate)12.3 ( was)15 ( )]TJ T* [(around)12.8 ( USD)12.8 (4)12.7 (0)12.7 (0)12.7 (\226)12.8 (4)12.7 (3)12.7 (0)12.7 (/ton,)12.7 ( representing)12.7 ( a)12.7 ( substantial)12.7 ( decrease)12.7 ( compared)12.7 ( to)15 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 TD (prices in early 2020. Abundant supply of spodumene and lower spodumene )Tj 0.029 Tc 0 -1.231 TD [(prices)4 ( )0.6 (have)4.1 ( reduced)4 ( )0.5 (our)4 ( )0.5 (production)4 ( )0.5 (costs)4 ( )0.5 (and)4 ( )0.5 (helped)4 ( )0.6 (to)4 ( )0.5 (offset)4 ( )0.5 (the)4 ( )0.5 (financial)4 ( )]TJ 0.025 Tc 0 Tw T* (impact from the decline in price of some refined lithium products.)Tj 13 0 3.4833 13 83.7052 264.409 Tm [(\(2\) )-664.5 (Market of salt lake brines)]TJ 0.072 Tc 0.07 Tw 13 0 0 13 113.3858 232.409 Tm [(The)12.2 ( current)12.1 ( brine)12.2 ( projects)12.2 ( in)12.2 ( South)12.2 ( America)12.2 ( are)12.1 ( mainly)12.1 ( in)12.2 ( Chile)12.2 ( and)47 ( )]TJ 0.025 Tc 0.02 Tw T* (Argentina, making for a highly concentrated industry. Future increase in\ salt )Tj 0.038 Tw T* (lake resources of South America will be mainly attributable to the opera\tion )Tj 0.077 Tc 0.07 Tw T* [(a)0.5 (nd)13 ( )0.5 (c)0.5 (ap)0.5 (a)0.5 (ci)0.5 (t)0.5 (y)12.9 ( )0.5 (e)0.5 (xp)0.5 (a)0.5 (ns)0.5 (io)0.5 (n)13 ( o)0.5 (f)13 ( s)0.5 (e)0.5 (ve)0.5 (r)0.5 (a)0.5 (l)12.9 ( )0.5 (p)0.5 (ro)0.5 (j)0.5 (ec)0.5 (t)0.5 (s)12.9 ( )0.5 (i)0.5 (nc)0.5 (l)0.5 (ud)0.5 (i)0.5 (ng)13 ( t)0.5 (h)0.5 (e)12.9 ( )0.5 (C)0.5 (om)0.5 (p)0.5 (an)0.5 (y)0.5 (\222s)52 ( )]TJ 0.048 Tc T* [(C)0.5 (a)0.5 (uc)0.5 (h)0.5 (a)0.5 (r)0.5 (i-)0.5 (O)0.5 (l)0.5 (a)0.5 (ro)0.5 (z)13 ( )0.5 (p)0.5 (ro)0.5 (j)0.5 (e)0.5 (ct)0.5 (,)13 ( )0.5 (wh)0.5 (i)0.5 (l)0.5 (e)13 ( i)0.5 (n)0.5 (c)0.5 (re)0.5 (a)0.5 (s)0.5 (e)13 ( )0.5 (in)13 ( )0.5 (s)0.5 (up)0.5 (p)0.5 (ly)13 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (l)0.5 (i)0.5 (th)0.5 (i)0.5 (u)0.5 (m)12.9 ( )0.5 (c)0.5 (o)0.5 (mp)0.5 (o)0.5 (u)0.5 (nd)0.5 (s)23 ( )]TJ 0.025 Tc 0.029 Tw T* (generated from brine resources will be seen after 2020. In the short ter\m, all )Tj 0.027 Tc 0.081 Tw T* [(lith)0.5 (ium)2 ( )0.5 (proje)0.5 (cts)2 ( )0.5 (in)2 ( )0.5 (South)2 ( )0.5 (A)0.5 (meric)0.5 (a)2 ( )0.5 (have)2 ( )0.5 (pos)0.5 (tponed)2 ( )0.5 (t)0.5 (heir)2 ( )0.5 (cap)0.5 (acity)2 ( )0.5 (e)0.5 (xpans)0.5 (ion)2 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 TD [(progressively)12.6 ( considering)12.6 ( the)12.6 ( vendors\222)12.6 ( judgments)12.6 ( over)12.6 ( the)12.6 ( future)12.6 ( market)20 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 TD [(demands)9 ( )0.5 (as)9 ( )0.5 (well)9 ( )0.5 (as)9 ( )0.5 (the)9 ( )0.5 (impact)9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (COVID-)9 (1)9 (9)9 ( )0.5 (pandemic,)9 ( )0.5 (which)9 ( )0.5 (will,)8.9 ( )0.6 (to)9 ( )]TJ 0.052 Tc 0.07 Tw T* [(a)12.7 ( certain)12.7 ( extent,)12.7 ( slow)12.8 ( down)12.7 ( the)12.8 ( growth)12.7 ( of)12.7 ( short)12.7 ( term)12.6 ( lithium)12.7 ( compound)27 ( )]TJ 0.024 Tc 0 Tw T* [(supply, shift the current supply and demand imbalance, and create condit\ions)-1 ( )]TJ 0.025 Tc T* (for an improved pricing environment in the future.)Tj ET endstreamendobj116 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 21 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(13. )-580.5 (TRADE AND BILLS PAYABLES)]TJ 27.797 -2.462 Td (As at )Tj -1.162 -1.231 Td (30 June )Tj -0.025 Tw 1.381 -1.231 Td (2020)Tj /T1_0 1 Tf 0 Tw 6.87 2.462 Td (As at )Tj -3.426 -1.231 Td (31 December )Tj -0.025 Tw 3.534 -1.231 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4325 696.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4537 680.4089 Tm (\(Unaudited\))Tj /T1_0 1 Tf 8.307 0 Td (\(Audited\))Tj 0 Tw -30.8 -2.462 Td (Trade payables)Tj /T1_1 1 Tf -0.025 Tw 24.51 0 Td (366,105)Tj /T1_0 1 Tf 6.978 0 Td (428,075)Tj 0 Tw -31.488 -1.231 Td (Bills payable)Tj /T1_1 1 Tf -0.025 Tw 24.51 0 Td (212,986)Tj /T1_0 1 Tf 6.978 0 Td (130,822)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.504 627.9989 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 629.3999 Tm ( )Tj ET q 1 0 0 1 459.2126 627.9989 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5433 629.3999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.836 -2.462 Td (579,091)Tj /T1_0 1 Tf 6.978 0 Td (558,897)Tj ET 2.5 w q 1 0 0 1 368.504 591.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5041 588.5028 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 589.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2127 591.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2127 588.5028 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5434 589.7363 Tm ( )Tj 0.035 Tc 0.073 Tw -28.346 -2.335 Td [(An)10.1 ( )0.5 (ageing)10 ( )0.5 (analysis)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.6 (trade)10 ( )0.6 (payables)10 ( )0.5 (as)10 ( )0.5 (at)10 ( )0.5 (the)10 ( )0.5 (end)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Reporting)10 ( )0.5 (Period,)10 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (based on the invoice date, is as follows:)Tj /T1_1 1 Tf 25.616 -2.462 Td (As at )Tj -1.162 -1.231 Td (30 June )Tj -0.025 Tw 1.381 -1.231 Td (2020)Tj /T1_0 1 Tf 0 Tw 6.87 2.462 Td (As at )Tj -3.426 -1.231 Td (31 December )Tj -0.025 Tw 3.534 -1.231 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4326 463.3873 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4539 447.3873 Tm (\(Unaudited\))Tj /T1_0 1 Tf 8.307 0 Td (\(Audited\))Tj 0 Tw -30.8 -2.462 Td (Within 3 months)Tj /T1_1 1 Tf -0.025 Tw 24.51 0 Td (256,482)Tj /T1_0 1 Tf 6.978 0 Td (404,025)Tj 0 Tw -31.488 -1.231 Td (4 to 6 months)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (47,538)Tj /T1_0 1 Tf 7.503 0 Td (2,607)Tj 0 Tw -32.538 -1.231 Td (7 to 12 months)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (39,747)Tj /T1_0 1 Tf 7.503 0 Td (7,754)Tj 0 Tw -32.538 -1.231 Td (1 to 2 years)Tj /T1_1 1 Tf -0.025 Tw 25.56 0 Td (9,922)Tj /T1_0 1 Tf 6.978 0 Td (9,296)Tj 0 Tw -32.538 -1.231 Td (2 to 3 years)Tj /T1_1 1 Tf -0.025 Tw 25.56 0 Td (8,284)Tj /T1_0 1 Tf 6.978 0 Td (4,393)Tj 0 Tw -32.538 -1.231 Td (Over 3 years)Tj /T1_1 1 Tf -0.025 Tw 25.56 0 Td (4,132)Tj /T1_0 1 Tf 0 Tc 0 Tw 8.828 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 368.5041 330.9773 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 13 0 0 13 362.8348 332.3782 Tm ( )Tj ET q 1 0 0 1 459.2127 330.9773 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 332.3782 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.836 -2.462 Td (366,105)Tj /T1_0 1 Tf 6.978 0 Td (428,075)Tj ET 2.5 w q 1 0 0 1 368.5042 294.8137 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5042 291.4812 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8349 292.7147 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2128 294.8137 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2128 291.4812 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 292.7147 Tm ( )Tj 0.044 Tc 0.07 Tw -28.346 -2.335 Td [(The)12.8 ( trade)12.8 ( payables)12.8 ( are)12.8 ( non-interest-bearing)12.8 ( and)12.8 ( are)12.8 ( normally)12.8 ( settled)12.8 ( on)12.9 ( terms)19 ( )]TJ 0.025 Tc 0 Tw T* (within 180 days.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(14. )-580.5 (EVENTS AFTER THE REPORTING PERIOD)]TJ /T1_0 1 Tf 0.055 Tc 0.07 Tw 2.181 -2.462 Td [(In)12.9 ( addition)12.9 ( to)12.9 ( the)12.9 ( tra)0.5 (nsac)0.5 (tions)12.9 ( disclosed)12.8 ( elsewhere)12.9 ( in)12.9 ( the)12.9 ( interim)12.9 ( condensed)30 ( )]TJ 0.044 Tc T* [(consolidated)12.6 ( financial)12.6 ( statements,)12.6 ( the)12.6 ( Group)12.6 ( had)12.6 ( following)12.6 ( subsequent)12.6 ( events)19 ( )]TJ 0.025 Tc 0 Tw T* (after the Reporting Period:)Tj 0.057 Tc 0.07 Tw 0 -2.462 TD [(Approved)12.7 ( by)12.7 ( China)12.7 ( Securities)12.8 ( Regulatory)12.7 ( Commission)12.7 ( on)12.7 ( 1)12.7 (3)12.7 ( July)12.7 ( 2)12.7 (0)12.7 (2)12.7 (0)12.8 ( and)32 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 TD [(the)12 ( )0.5 (shareholders)12 ( )0.5 (on)12 ( )0.5 (a)12 ( )0.5 (general)12 ( )0.5 (meeting)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (Company)12 ( )0.5 (on)12 ( )0.5 (1)12 (3)12 ( )0.5 (August)12 ( )0.5 (2)12 (0)12.1 (1)12 (9)12 (,)12 ( )0.5 (the)12 ( )]TJ 0.05 Tc 0.07 Tw T* [(Company)12.2 ( publicly)12.2 ( issued)12.2 ( A)12.2 ( share)12.3 ( convertible)12.3 ( bonds)12.3 ( with)12.2 ( a)12.2 ( nominal)12.3 ( value)12.3 ( of)25.1 ( )]TJ 0.025 Tc 0 Tw T* (RMB2,108,000,000 on 6 August 2020.)Tj ET endstreamendobj30 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj31 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj32 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj33 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj34 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>endobj147 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 20 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(11. )-580.5 (TRADE RECEIVABLES)]TJ /T1_0 1 Tf 0.04 Tw 2.181 -2.462 Td (An ageing analysis of the trade receivables as at the end of the Reporti\ng Period, )Tj 0 Tw 0 -1.231 TD (based on the invoice date and net of loss allowance, is as follows:)Tj /T1_1 1 Tf 25.616 -2.462 Td (As at )Tj -1.162 -1.231 Td (30 June )Tj -0.025 Tw 1.381 -1.231 Td (2020)Tj /T1_0 1 Tf 0 Tw 6.87 2.462 Td (As at )Tj -3.426 -1.231 Td (31 December)Tj 3.259 -1.231 Td ( 2019)Tj /T1_1 1 Tf -0.025 Tw 13 0 3.4833 13 390.4325 648.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4537 632.4089 Tm (\(Unaudited\))Tj /T1_0 1 Tf 8.307 0 Td (\(Audited\))Tj 0 Tw -30.8 -2.462 Td (Within six months)Tj /T1_1 1 Tf -0.025 Tw 23.71 0 Td (1,021,110)Tj /T1_0 1 Tf 7.778 0 Td (860,826)Tj 0 Tw -31.488 -1.231 Td (More than six months but)Tj 1.003 -1.231 Td (less than one year)Tj /T1_1 1 Tf -0.025 Tw 24.032 0 Td (90,282)Tj /T1_0 1 Tf 6.978 0 Td (21,656)Tj 0 Tw -32.013 -1.231 Td (One to two years)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (12,453)Tj /T1_0 1 Tf 7.503 0 Td (4,517)Tj 0 Tw -32.538 -1.231 Td (Two to three years)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (20,499)Tj /T1_0 1 Tf 6.978 0 Td (26,809)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.504 531.9989 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 533.3999 Tm ( )Tj ET q 1 0 0 1 459.2127 531.9989 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5434 533.3999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.636 -2.462 Td (1,144,344)Tj /T1_0 1 Tf 7.778 0 Td (913,808)Tj ET 2.5 w q 1 0 0 1 368.5041 495.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5041 492.5028 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8348 493.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2127 495.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2128 492.5028 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 493.7363 Tm ( )Tj /T1_1 1 Tf 0.159 Tc 0.07 Tw -30.527 -2.335 Td [(1)134 (2)134 (.)134 ( )-376.5 (DE)0.5 (BT)13 ( IN)0.5 (STR)0.5 (UM)0.5 (EN)0.5 (TS)13 ( AT)13 ( F)0.5 (AI)0.5 (R)12.9 ( V)0.5 (AL)0.5 (UE)13 ( TH)0.5 (ROU)0.5 (GH)13 ( OT)0.5 (HER)134 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.231 Td (COMPREHENSIVE INCOME)Tj 25.616 -2.462 Td (As at )Tj -1.162 -1.231 Td (30 June )Tj -0.025 Tw 1.381 -1.231 Td (2020)Tj /T1_0 1 Tf 0 Tw 6.87 2.462 Td (As at )Tj -3.426 -1.231 Td (31 December )Tj -0.025 Tw 3.534 -1.231 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4326 367.3873 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4539 351.3873 Tm (\(Unaudited\))Tj /T1_0 1 Tf 8.307 0 Td (\(Audited\))Tj 0 Tw -30.8 -2.462 Td (Debt instruments at fair value through other )Tj 1.003 -1.231 Td (comprehensive income:)Tj T* (Bills receivables)Tj /T1_1 1 Tf -0.025 Tw 23.507 0 Td (240,372)Tj /T1_0 1 Tf 6.978 0 Td (218,362)Tj ET 2.5 w q 1 0 0 1 368.5042 281.8227 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5042 278.4902 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8349 279.7237 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2128 281.8227 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2128 278.4902 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 279.7237 Tm ( )Tj 0.03 Tc 0.078 Tw -28.346 -2.335 Td [(The)5 ( )0.5 (Group\222s)5 ( )0.5 (business)5 ( )0.5 (model)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (management)5 ( )0.5 (of)5 ( )0.5 (bills)5 ( )0.5 (receivable)5 ( )0.5 (is)5 ( )0.5 (aimed)5 ( )0.5 (at)5 ( )]TJ 0.025 Tc 0.061 Tw T* (both receiving contractual cash flows and selling. As a result, it is cl\assified and )Tj 0 Tw T* (presented as debt instruments at fair value through other comprehensive \income.)Tj 0.049 Tc 0.07 Tw 0 -2.462 TD [(As)12.1 ( at)12.1 ( 3)12.1 (0)12.1 ( June)12.1 ( 2)12.1 (0)12.1 (2)12 (0)12.1 (,)12.1 ( the)12 ( Group\222s)12.1 ( debt)12.1 ( instruments)12.1 ( at)12 ( fair)12.1 ( value)12 ( through)12.1 ( other)24 ( )]TJ 0.025 Tc 0.032 Tw 0 -1.231 TD (comprehensive income with a carrying amount of RMB20,511,000 \(31 Decemb\er )Tj 0.058 Tw 0 -1.231 TD (2019: RMB58,571,000\) were pledged to issue banks\222 acceptance bills a\nd letters )Tj 0 Tw 0 -1.231 TD (of credit.)Tj ET endstreamendobj146 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 19 \226)Tj 13 0 0 13 85.0394 776.3179 Tm (The calculations of basic and diluted earnings per share are based on:)Tj /T1_1 1 Tf 22.67 -2.462 Td (For the six months ended )Tj 3.948 -1.231 Td (30 June)Tj -0.025 Tw -0.783 -1.231 Td (2020)Tj /T1_0 1 Tf 6.978 0 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4325 696.318 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4537 680.318 Tm (\(Unaudited\))Tj /T1_0 1 Tf 7.313 0 Td (\(Unaudited\))Tj /T1_1 1 Tf -29.806 -2.462 Td (Earnings)Tj /T1_0 1 Tf 0 Tw 0 -1.231 TD (Adjusted profit attributable to ordinary equity )Tj 1.003 -1.231 Td (holders of the parent for the basic earnings per )Tj T* (share calculation)Tj /T1_1 1 Tf -0.025 Tw 23.507 0 Td (157,696)Tj /T1_0 1 Tf 6.978 0 Td (297,201)Tj ET 0 0 0 1 K 2.5 w q 1 0 0 1 368.504 594.7534 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5041 591.4209 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 592.6544 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2127 594.7534 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2127 591.4209 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5434 592.6544 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Interest expense on convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (28,625)Tj /T1_0 1 Tf 6.978 0 Td (23,940)Tj ET 0.5 w q 1 0 0 1 368.5041 556.2444 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8348 557.6454 Tm ( )Tj ET q 1 0 0 1 459.2127 556.2444 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 557.6454 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Adjusted profit attributable to ordinary equity )Tj 1.003 -1.231 Td (holders of the parent for the diluted earnings )Tj T* (per share calculation)Tj /T1_1 1 Tf -0.025 Tw 23.507 0 Td (186,321)Tj /T1_0 1 Tf 6.978 0 Td (321,141)Tj ET 2.5 w q 1 0 0 1 368.5042 488.0808 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5042 484.7483 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8349 485.9818 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2128 488.0808 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2128 484.7483 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5435 485.9818 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -28.346 -2.462 Td (Shares)Tj /T1_0 1 Tf 0 Tw T* (Weighted average number of ordinary shares for )Tj 1.003 -1.231 Td (the calculation of basic earnings per share)Tj /T1_1 1 Tf -0.025 Tw 20.857 0 Td (1,292,712,664)Tj /T1_0 1 Tf 6.978 0 Td (1,292,597,884)Tj ET 2.5 w q 1 0 0 1 368.5043 416.4173 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5043 413.0848 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.835 414.3183 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2129 416.4173 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.213 413.0848 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5436 414.3183 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Effect of dilution \226 weighted average number of )Tj 1.003 -1.231 Td (ordinary shares:)Tj -1.003 -1.231 Td (\226 Convertible bonds*)Tj /T1_1 1 Tf -0.025 Tw 23.185 0 Td (21,676,443)Tj /T1_0 1 Tf 6.978 0 Td (19,359,975)Tj ET 0.5 w q 1 0 0 1 368.5044 345.9082 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8351 347.3092 Tm ( )Tj ET q 1 0 0 1 459.213 345.9082 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5438 347.3092 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Weighted average number of ordinary shares for )Tj 1.003 -1.231 Td (the calculation of diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 20.857 0 Td (1,314,389,107)Tj /T1_0 1 Tf 6.978 0 Td (1,311,957,859)Tj ET 2.5 w q 1 0 0 1 368.5045 293.7447 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5045 290.4122 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8352 291.6457 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2131 293.7447 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2131 290.4122 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5438 291.6457 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Basic earnings per share )Tj -0.025 Tw 13 0 3.4833 13 221.7897 259.6457 Tm (\(RMB\))Tj /T1_1 1 Tf 13 0 0 13 424.1496 259.6457 Tm (0.12)Tj /T1_0 1 Tf 6.978 0 Td (0.23)Tj ET 2.5 w q 1 0 0 1 368.5045 254.0812 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5046 250.7487 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8353 251.9821 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2132 254.0812 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2132 250.7487 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5439 251.9821 Tm ( )Tj 0.025 Tc -28.346 -2.462 Td (Diluted earnings per share )Tj -0.025 Tw 13 0 3.4833 13 232.554 219.9822 Tm (\(RMB\))Tj /T1_1 1 Tf 13 0 0 13 424.1497 219.9822 Tm (0.12)Tj /T1_0 1 Tf 6.978 0 Td (0.23)Tj ET 2.5 w q 1 0 0 1 368.5046 214.4176 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5046 211.0851 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8353 212.3186 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2133 214.4176 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2133 211.0851 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.544 212.3186 Tm ( )Tj 0.025 Tc 0.031 Tw 11 0 0 11 85.04 183.9696 Tm [(* )-1746 (Because the diluted earnings per share amount is increased when taking c\onvertible bonds )]TJ 0.035 Tc 0.073 Tw 2.577 -1.273 Td [(into)10 ( )0.6 (account,)10 ( )0.5 (the)10 ( )0.5 (convertible)10.1 ( )0.5 (bonds)10 ( )0.5 (had)10 ( )0.5 (an)10 ( )0.5 (anti-dilutive)10 ( )0.5 (effect)10 ( )0.6 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The )Tj 0.017 Tw T* [(weighted )0.5 (average number )0.5 (of )0.5 (ordinary shares )0.5 (used )0.5 (in )0.5 (the )0.5 (calculation is )0.5 (the )0.5 (number )]TJ 0.024 Tc 0 Tw T* [(of ordinary shares in issue during the six months ended 30 June 2020 and\ 2019, as)-1 ( )]TJ 0.025 Tc 0.008 Tw T* (used in the basic earnings per share calculation, and the weighted avera\ge number )Tj 0 Tw T* (of ordinary shares assumed to have been issued at no consideration on th\e deemed )Tj 0.053 Tc 0.07 Tw T* [(exercise)12.3 ( or)12.3 ( conversion)12.3 ( of)12.4 ( all)12.3 ( dilutive)12.3 ( potential)12.3 ( ordinary)12.3 ( shares)12.3 ( into)12.3 ( ordinary)28.1 ( )]TJ 0.025 Tc -0.025 Tw T* (shares.)Tj ET endstreamendobj144 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 17 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(8. )-1105.5 (INCOME TAX)]TJ /T1_0 1 Tf 0.046 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.3 ( Group)12.3 ( is)12.3 ( subject)12.4 ( to)12.3 ( income)12.4 ( tax)12.3 ( on)12.3 ( an)12.3 ( entity)12.3 ( basis)12.3 ( on)12.3 ( profits)12.3 ( arising)12.3 ( in)12.3 ( or)21 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 TD [(derived )0.5 (from the )0.5 (jurisdictions in )0.5 (which )0.5 (members of )0.5 (the )0.5 (Group are domiciled )0.5 (and )]TJ -0.025 Tw T* (operate.)Tj /T1_1 1 Tf 0 Tw 22.67 -2.462 Td (For the six months ended )Tj 3.948 -1.231 Td (30 June)Tj -0.025 Tw -0.783 -1.231 Td (2020)Tj /T1_0 1 Tf 6.978 0 Td (2019)Tj /T1_1 1 Tf 13 0 3.4833 13 390.4325 632.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 7.088 0 Td (RMB\222000)Tj /T1_1 1 Tf 13 0 0 13 377.4537 616.4089 Tm (\(Unaudited\))Tj /T1_0 1 Tf 7.313 0 Td (\(Unaudited\))Tj 0 Tw -29.806 -2.462 Td (Current corporate income tax)Tj /T1_1 1 Tf -0.025 Tw 25.035 0 Td (36,519)Tj /T1_0 1 Tf 6.978 0 Td (77,733)Tj 0 Tw -32.013 -1.231 Td (Deferred tax)Tj /T1_1 1 Tf -0.025 Tw 25.177 0 Td (\(2,804\))Tj /T1_0 1 Tf 6.836 0 Td (12,785)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.504 563.9989 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 565.3999 Tm ( )Tj ET q 1 0 0 1 459.2126 563.9989 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5433 565.3999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.311 -2.462 Td (33,715)Tj /T1_0 1 Tf 6.978 0 Td (90,518)Tj ET 2.5 w q 1 0 0 1 368.504 527.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 368.5041 524.5028 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 362.8347 525.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 459.2127 527.8353 cm 0 0 m 79.37 0 l S Q 0.835 w q 1 0 0 1 459.2127 524.5028 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 13 0 0 13 453.5434 525.7363 Tm ( )Tj 0.025 Tc 0.018 Tw -28.346 -2.335 Td (The subsidiaries incorporated in Hong Kong were subject to profits tax a\t the rate )Tj 0.035 Tc 0.073 Tw T* [(of)10 ( )0.5 (1)10 (6)10 (.)10 (5)10 (%)10 ( )0.6 (during)10 ( )0.5 (the)10 ( )0.5 (Reporting)10 ( )0.5 (Period.)10 ( )0.6 (No)10 ( )0.5 (provision)10 ( )0.5 (for)10 ( )0.5 (Hong)10 ( )0.5 (Kong)10 ( )0.5 (profits)10 ( )0.5 (tax)10 ( )]TJ 0.025 Tc 0.023 Tw T* [(has )0.5 (been )0.5 (made )0.5 (as )0.6 (all )0.5 (the )0.5 (profits )0.5 (were )0.5 (derived )0.5 (from )0.6 (offshore, )0.5 (and )0.5 (were )0.6 (not )0.5 (taxable )]TJ 0 Tw T* (in Hong Kong.)Tj 0.051 Tc 0.07 Tw 0 -2.462 TD [(Provision)12.4 ( for)12.4 ( Mainland)12.3 ( China)12.4 ( current)12.4 ( income)12.4 ( tax)12.4 ( was)12.4 ( based)12.4 ( on)12.4 ( the)12.3 ( statutory)25.9 ( )]TJ 0.042 Tc 0 -1.231 TD [(rate)12.6 ( of)12.6 ( 2)12.6 (5)12.7 (%)12.6 ( of)12.6 ( the)12.7 ( assessable)12.6 ( profits)12.6 ( for)12.6 ( the)12.6 ( Reporting)12.7 ( Period)12.6 ( of)12.6 ( the)12.6 ( Group)12.7 ( as)17 ( )]TJ 0.029 Tc 0.079 Tw T* [(determined)4 ( )0.5 (in)4 ( )0.5 (accordance)4 ( )0.5 (with)4 ( )0.5 (the)4 ( )0.5 (PRC)4 ( )0.5 (Corporate)4 ( )0.5 (Income)4 ( )0.5 (Tax)4 ( )0.5 (Law,)4 ( )0.5 (which)4 ( )0.5 (was)4 ( )]TJ 0.058 Tc 0.071 Tw T* [(approved)12 ( )0.5 (and)12.1 ( )0.5 (became)12.1 ( )0.5 (effective)12.1 ( )0.5 (on)12 ( )0.6 (1)12 ( )0.6 (January)12 ( 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The subsidiaries are also recognised as HN\TEs and )Tj 0 Tw T* (the effective periods are as follows:)Tj /T1_1 1 Tf -0.025 Tw 0 -2.462 TD (Name)Tj 0 Tw 27.709 0 Td (Effective period)Tj /T1_0 1 Tf -27.709 -2.462 Td (Fengxin Ganfeng Lithium Co., Ltd.)Tj -0.025 Tw 25.826 0 Td (2019/9/16\2262022/9/15)Tj 0 Tw -25.826 -1.231 Td (Yichun Ganfeng Lithium Co., Ltd.)Tj -0.025 Tw 25.826 0 Td (2018/8/13\2262021/8/12)Tj 0 Tw -25.826 -1.231 Td (Ganfeng Recycling Technology Co., Ltd.)Tj -0.025 Tw 25.826 0 Td (2018/8/13\2262021/8/12)Tj 0 Tw -25.826 -1.231 Td (Jiangxi Ganfeng Battery Technology Co., Ltd.)Tj -0.025 Tw 25.826 0 Td (2018/12/4\2262021/12/3)Tj 0 Tw -25.826 -1.231 Td (Dongguan Ganfeng Electronics Co., Ltd.)Tj -0.025 Tw 25.993 0 Td (2019/12/2-2022/12/1)Tj ET endstreamendobj143 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 16 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(7. )-1105.5 (PROFIT BEFORE TAX)]TJ /T1_0 1 Tf 2.181 -2.462 Td 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4.226 1.231 Td (Lithium ore )Tj -0.025 Tw 1.438 -1.231 Td (resource)Tj 7.65 0 Td (Total)Tj 11.7 0 3.4833 13 266.9363 696.4089 Tm (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 11.7 0 0 13 258.0217 680.4089 Tm (\(Unaudited\))Tj 6.299 0 Td (\(Unaudited\))Tj 6.299 0 Td (\(Unaudited\))Tj 6.299 0 Td (\(Unaudited\))Tj /T1_1 1 Tf 0 Tw -31.26 -2.462 Td (Type of goods or services)Tj /T1_0 1 Tf 0 -1.231 TD (Sale of goods)Tj -0.025 Tw 13.244 0 Td (2,497,248)Tj 7.099 0 Td (267,534)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,764,782)Tj 0 Tw -32.142 -1.231 Td (Processing services)Tj -0.025 Tw 14.569 0 Td (37,457)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (37,457)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 255.1181 611.9989 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4488 613.3999 Tm ( )Tj ET q 1 0 0 1 328.8189 611.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1496 613.3999 Tm ( )Tj ET q 1 0 0 1 402.5197 611.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8504 613.3999 Tm ( )Tj ET q 1 0 0 1 476.2205 611.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 613.3999 Tm ( )Tj 0.025 Tc 11.7 0 0 13 113.3858 581.3999 Tm (Total revenue from )Tj 1.114 -1.231 Td (contracts with customers)Tj -0.025 Tw 12.13 0 Td (2,534,705)Tj 7.099 0 Td (267,534)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,802,239)Tj ET 2.5 w q 1 0 0 1 255.1181 559.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 556.5028 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4488 557.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8189 559.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8189 556.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1496 557.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5197 559.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5197 556.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8504 557.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2205 559.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2205 556.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 557.7363 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 11.7 0 0 13 113.3858 525.7363 Tm (Geographical markets)Tj /T1_0 1 Tf T* (Mainland China)Tj -0.025 Tw 13.244 0 Td (1,543,248)Tj 7.099 0 Td (227,969)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (1,771,217)Tj -32.142 -1.231 Td (Asia)Tj 14.044 0 Td (944,749)Tj 6.824 0 Td (39,565)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.399 0 Td (984,314)Tj -32.942 -1.231 Td (Europe)Tj 14.569 0 Td (31,598)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (31,598)Tj 0 Tw -33.467 -1.231 Td (North America)Tj -0.025 Tw 14.569 0 Td (10,050)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (10,050)Tj 0 Tw -33.467 -1.231 Td (Other countries/regions)Tj -0.025 Tw 15.094 0 Td (5,060)Tj 0 Tc 0 Tw 8.149 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.449 0 Td (5,060)Tj ET 0.5 w q 1 0 0 1 255.1182 441.3263 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 442.7272 Tm ( )Tj ET q 1 0 0 1 328.8189 441.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 442.7272 Tm ( )Tj ET q 1 0 0 1 402.5197 441.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 442.7272 Tm ( )Tj ET q 1 0 0 1 476.2205 441.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 442.7272 Tm ( )Tj 0.025 Tc 11.7 0 0 13 113.3859 410.7273 Tm (Total revenue from )Tj 1.114 -1.231 Td (contracts with customers)Tj -0.025 Tw 12.13 0 Td (2,534,705)Tj 7.099 0 Td (267,534)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,802,239)Tj ET 2.5 w q 1 0 0 1 255.1182 389.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1182 385.8302 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 387.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8189 389.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.819 385.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 387.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5197 389.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5198 385.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 387.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2205 389.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2206 385.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 387.0637 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 11.7 0 0 13 113.3859 355.0637 Tm (Timing of revenue )Tj -0.025 Tw 1.114 -1.231 Td (recognition)Tj /T1_0 1 Tf 0 Tw -1.114 -1.231 Td (At a point in time)Tj -0.025 Tw 13.244 0 Td (2,534,705)Tj 7.099 0 Td (267,534)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,802,239)Tj ET 2.5 w q 1 0 0 1 255.1182 317.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1182 314.1667 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 315.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8189 317.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.819 314.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 315.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5197 317.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5198 314.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 315.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2205 317.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2206 314.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 315.4001 Tm ( )Tj ET endstreamendobj149 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 12 \226)Tj /T1_1 1 Tf 0.052 Tc 0.07 Tw 13 0 3.4833 13 112.0517 776.409 Tm [(Disaggregated)12.3 ( revenue)12.4 ( information)12.3 ( for)12.3 ( revenue)12.3 ( from)12.4 ( contracts)12.3 ( with)27 ( )]TJ 0.025 Tc -0.025 Tw 0.33 -1.231 Td (customers)Tj 0 Tw 13 0 0 13 113.3858 728.409 Tm (For the six months ended 30 June 2020)Tj -0.025 Tw 11.7 0 0 13 113.3858 664.4089 Tm (Segments)Tj 13.793 2.462 Td (Lithium )Tj 0 Tw -0.799 -1.231 Td (metal and )Tj -0.025 Tw -0.226 -1.231 Td (compound)Tj 7.324 1.231 Td (Lithium)Tj 0.391 -1.231 Td (battery)Tj 5.908 1.231 Td (Lithium)Tj 0 Tw -1.927 -1.231 Td (ore resource)Tj -0.025 Tw 9.499 0 Td (Total)Tj 11.7 0 3.4833 13 265.6496 648.4089 Tm (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 6.299 0 Td (RMB\222000)Tj 11.7 0 0 13 254.1021 632.4089 Tm (\(Unaudited\) )Tj 6.299 0 Td (\(Unaudited\) )Tj 6.299 0 Td (\(Unaudited\) )Tj 6.299 0 Td (\(Unaudited\) )Tj 0.021 Tc 0 Tw -30.925 -2.462 Td (Types of goods or services)Tj /T1_0 1 Tf 0.025 Tc 0 -1.231 TD (Sale of industrial products)Tj /T1_1 1 Tf -0.025 Tw 13.244 0 Td (1,935,562)Tj 7.099 0 Td (415,732)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,351,294)Tj /T1_0 1 Tf 0 Tw -32.142 -1.231 Td (Processing services)Tj /T1_1 1 Tf -0.025 Tw 14.569 0 Td (23,312)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (23,312)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 255.1181 563.9989 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 565.3999 Tm ( )Tj ET q 1 0 0 1 328.8189 563.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 565.3999 Tm ( )Tj ET q 1 0 0 1 402.5197 563.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 565.3999 Tm ( )Tj ET q 1 0 0 1 476.2205 563.9989 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 565.3999 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 11.7 0 0 13 113.3859 533.3999 Tm (Total revenue from )Tj 1.114 -1.231 Td (contracts with customers)Tj /T1_1 1 Tf -0.025 Tw 12.13 0 Td (1,958,874)Tj 7.099 0 Td (415,732)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,374,606)Tj ET 2.5 w q 1 0 0 1 255.1182 511.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1182 508.5028 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.4489 509.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8189 511.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.819 508.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1497 509.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5197 511.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5198 508.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8505 509.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2205 511.8353 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2206 508.5028 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5512 509.7363 Tm ( )Tj 0.025 Tc 11.7 0 0 13 113.3859 477.7363 Tm (Geographical markets)Tj /T1_0 1 Tf T* (Mainland China)Tj /T1_1 1 Tf -0.025 Tw 13.244 0 Td (1,069,068)Tj 7.099 0 Td (413,584)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (1,482,652)Tj /T1_0 1 Tf -32.142 -1.231 Td (Asia)Tj /T1_1 1 Tf 14.044 0 Td (840,644)Tj 7.349 0 Td (2,053)Tj 0 Tc 0 Tw 8.149 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.399 0 Td (842,697)Tj /T1_0 1 Tf -32.942 -1.231 Td (Europe)Tj /T1_1 1 Tf 14.569 0 Td (33,092)Tj 0 Tc 0 Tw 8.674 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (33,092)Tj /T1_0 1 Tf 0 Tw -33.467 -1.231 Td (North America)Tj /T1_1 1 Tf -0.025 Tw 14.569 0 Td (14,123)Tj 8.149 0 Td (95)Tj 0 Tc 0 Tw 6.824 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.924 0 Td (14,218)Tj /T1_0 1 Tf 0 Tw -33.467 -1.231 Td (Other countries/regions)Tj /T1_1 1 Tf -0.025 Tw 15.094 0 Td (1,947)Tj 0 Tc 0 Tw 8.149 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.449 0 Td (1,947)Tj ET 0.5 w q 1 0 0 1 255.1183 393.3263 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.449 394.7272 Tm ( )Tj ET q 1 0 0 1 328.8191 393.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1498 394.7272 Tm ( )Tj ET q 1 0 0 1 402.5199 393.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8506 394.7272 Tm ( )Tj ET q 1 0 0 1 476.2206 393.3263 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5514 394.7272 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 11.7 0 0 13 113.386 362.7273 Tm (Total revenue from )Tj 1.114 -1.231 Td (contracts with customers)Tj /T1_1 1 Tf -0.025 Tw 12.13 0 Td (1,958,874)Tj 7.099 0 Td (415,732)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,374,606)Tj ET 2.5 w q 1 0 0 1 255.1183 341.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1183 337.8302 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.449 339.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8191 341.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8191 337.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1498 339.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5199 341.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5199 337.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8506 339.0637 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2206 341.1627 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2207 337.8302 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5514 339.0637 Tm ( )Tj 0.025 Tc 11.7 0 0 13 113.386 307.0637 Tm (Timing of revenue )Tj -0.025 Tw 1.114 -1.231 Td (recognition)Tj /T1_0 1 Tf 0 Tw -1.114 -1.231 Td (At a point in time)Tj /T1_1 1 Tf -0.025 Tw 13.244 0 Td (1,958,874)Tj 7.099 0 Td (415,732)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.599 0 Td (2,374,606)Tj ET 2.5 w q 1 0 0 1 255.1183 269.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1183 266.1667 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 249.449 267.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8191 269.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8191 266.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 323.1498 267.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5199 269.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5199 266.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 396.8506 267.4001 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2206 269.4992 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2207 266.1667 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5514 267.4001 Tm ( )Tj ET endstreamendobj148 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 11 \226)Tj 0.039 Tc 0.07 Tw 13 0 0 13 85.0394 776.3179 Tm [(The)12.3 ( following)12.2 ( table)12.2 ( presents)12.2 ( the)12.2 ( asset)12.2 ( and)12.3 ( liability)12.2 ( information)12.2 ( of)12.3 ( the)12.2 ( Group\222s)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (operating segments as at 30 June 2020 and 31 December 2019, respectively\.)Tj /T1_1 1 Tf -0.025 Tw 14.229 -2.462 Td (Lithium )Tj 0 Tw -0.799 -1.231 Td (metal and )Tj -0.025 Tw -0.226 -1.231 Td (compound)Tj 6.694 1.231 Td (Lithium )Tj 0.391 -1.231 Td (battery)Tj 0 Tw 3.696 1.231 Td (Lithium ore )Tj -0.025 Tw 1.393 -1.231 Td (resource)Tj 7.131 0 Td (Total)Tj /T1_0 1 Tf 13 0 3.4833 13 261.4685 680.318 Tm (RMB\222000)Tj 5.669 0 Td (RMB\222000)Tj 5.669 0 Td (RMB\222000)Tj 5.669 0 Td (RMB\222000)Tj /T1_1 1 Tf 0 Tw 13 0 0 13 85.0393 648.318 Tm (Segment assets )Tj /T1_0 1 Tf T* (30 June 2020 \(unaudited\))Tj -0.025 Tw 13.68 0 Td (9,113,900)Tj 5.669 0 Td (1,490,634)Tj 5.669 0 Td (5,406,385)Tj 5.144 0 Td (16,010,919)Tj ET 0 0 0 1 K 2.5 w q 1 0 0 1 255.1181 626.7534 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 623.4209 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 310.3303 624.6544 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8188 626.7534 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8188 623.4209 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 384.031 624.6544 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5196 626.7534 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5197 623.4209 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 457.7318 624.6544 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2204 626.7534 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 623.4209 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 531.4326 624.6544 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (31 December 2019 \(audited\))Tj -0.025 Tw 13.68 0 Td (7,763,606)Tj 5.669 0 Td (1,384,867)Tj 5.669 0 Td (5,064,559)Tj 5.144 0 Td (14,213,032)Tj ET 2.5 w q 1 0 0 1 255.1181 587.0899 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 583.7574 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 310.3303 584.9909 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8188 587.0899 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8188 583.7574 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 384.031 584.9909 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5196 587.0899 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5197 583.7574 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 457.7318 584.9909 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2204 587.0899 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 583.7574 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 531.4326 584.9909 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -34.338 -2.462 Td (Segment liabilities)Tj /T1_0 1 Tf T* (30 June 2020 \(unaudited\))Tj -0.025 Tw 13.68 0 Td (6,962,899)Tj 6.469 0 Td (506,482)Tj 5.669 0 Td (279,989)Tj 4.869 0 Td (7,749,370)Tj ET 2.5 w q 1 0 0 1 255.1181 531.4263 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 528.0938 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 310.3303 529.3273 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8188 531.4263 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8188 528.0938 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 384.031 529.3273 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5196 531.4263 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5197 528.0938 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 457.7318 529.3273 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2204 531.4263 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 528.0938 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 531.4326 529.3273 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (31 December 2019 \(audited\))Tj -0.025 Tw 13.68 0 Td (5,171,697)Tj 6.469 0 Td (367,946)Tj 5.669 0 Td (263,108)Tj 4.869 0 Td (5,802,751)Tj ET 2.5 w q 1 0 0 1 255.1181 491.7628 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 255.1181 488.4303 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 310.3303 489.6638 Tm ( )Tj ET 2.5 w q 1 0 0 1 328.8188 491.7628 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 328.8188 488.4303 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 384.031 489.6638 Tm ( )Tj ET 2.5 w q 1 0 0 1 402.5196 491.7628 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 402.5197 488.4303 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 457.7318 489.6638 Tm ( )Tj ET 2.5 w q 1 0 0 1 476.2204 491.7628 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 488.4303 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 531.4326 489.6638 Tm ( )Tj 0.025 Tc 0.06 Tw -34.338 -2.335 Td (Seasonal factors have no significant impact on the Group\222s segment re\venue and )Tj 0 Tw T* (segment results.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(4. )-1105.5 (REVENUE, OTHER INCOME AND GAINS)]TJ /T1_0 1 Tf 2.18 -2.462 Td (An analysis of revenue, other income and gains is as follows:)Tj /T1_1 1 Tf 0.665 Tw 0 -2.462 TD [(\(a\) )0.5 (Revenue)]TJ 0 Tw 22.67 -2.462 Td (For the six months ended )Tj 3.948 -1.231 Td (30 June)Tj -0.025 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0 l S Q BT 13 0 0 13 396.8503 639.8389 Tm ( )Tj ET q 1 0 0 1 476.2204 638.4379 cm 0 0 m 62.362 0 l S Q BT 13 0 0 13 470.5511 639.8389 Tm ( )Tj 0.025 Tc -0.025 Tw -15.975 -2.462 Td (1,959,668)Tj 6.469 0 Td (416,610)Tj 8.044 0 Td (19)Tj 2.494 0 Td (2,376,297)Tj /T1_0 1 Tf 13 0 3.4833 13 83.7052 575.8389 Tm (Reconciliation:)Tj 0 Tw 13 0 0 13 85.0393 559.8389 Tm (Elimination of intersegment )Tj -0.025 Tw 1.003 -1.231 Td (sales)Tj /T1_1 1 Tf 31.152 0 Td (\(1,691\))Tj ET q 1 0 0 1 476.2204 539.4288 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 470.5511 540.8298 Tm ( )Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw -29.655 -2.462 Td (Revenue)Tj /T1_1 1 Tf 30.688 0 Td (2,374,606)Tj ET 2.5 w q 1 0 0 1 476.2204 503.2652 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 476.2204 499.9327 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 470.5511 501.1662 Tm ( )Tj 0.025 Tc -29.655 -2.462 Td (Segment results)Tj -0.025 Tw 14.48 0 Td (292,969)Tj 5.811 0 Td (\(45,677\))Tj 6.577 0 Td (5,648)Tj 4.619 0 Td (252,940)Tj /T1_0 1 Tf 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(OPERATING SEGMENT INFORMATION)]TJ /T1_0 1 Tf 0.056 Tc 0.07 Tw 2.181 -2.462 Td [(For)12.8 ( management)12.8 ( purposes,)12.8 ( the)12.8 ( Group)12.8 ( is)12.8 ( organised)12.8 ( into)12.8 ( business)12.8 ( units)12.9 ( based)31 ( )]TJ 0.045 Tc 0 -1.231 TD [(on)12.8 ( their)12.7 ( products)12.7 ( and)12.8 ( services)12.8 ( and)12.8 ( has)12.7 ( three)12.7 ( reportable)12.8 ( operating)12.7 ( segments)12.7 ( as)20 ( )]TJ 0.025 Tc -0.025 Tw T* (follows:)Tj 0.053 Tc 0.07 Tw 0 -2.462 TD [(\()28 (a)28 (\))28 ( )-622.5 (Lithium)12.4 ( metal)12.5 ( and)12.5 ( compound)12.4 ( segment:)12.5 ( manufacture)12.5 ( and)12.5 ( sale)12.5 ( of)12.5 ( lithium)28 ( )]TJ 0.025 Tc 0 Tw 2.18 -1.231 Td (series products, and the rendering of processing services;)Tj -2.18 -2.462 Td [(\(b\) )-664.5 (Lithium battery segment: manufacture and sale of lithium batteries; and)]TJ 0.051 Tw T* [(\(c\) )-669.5 (Lithium ore resource segment: exploration and sale of lithium ore and ot\her )]TJ 0 Tw 2.18 -1.231 Td (lithium products.)Tj 0.034 Tc 0.074 Tw -2.18 -2.462 Td [(Management)9 ( )0.5 (monitors)9 ( )0.5 (the)9 ( )0.5 (results)9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (Group\222s)9 ( )0.5 (operating)9 ( )0.5 (segments)9 ( )0.5 (separately)9.1 ( )]TJ 0 -1.231 TD [(for)9 ( )0.5 (the)9 ( )0.5 (purpose)9.1 ( )0.5 (of)9 ( )0.5 (making)9 ( )0.5 (decisions)9 ( )0.5 (about)9 ( )0.5 (resource)9 ( )0.5 (allocation)9 ( )0.5 (and)8.9 ( )0.6 (performance)9.1 ( )]TJ 0.022 Tc 0 Tw T* (assessment. Segment performance is evaluated based on reportable segment\ profit/)Tj 0.035 Tc 0.073 Tw T* [(loss,)10 ( )0.5 (which)10 ( )0.5 (is)10 ( )0.5 (a)10 ( )0.5 (measure)10 ( )0.5 (of)10 ( )0.5 (adjusted)10 ( )0.5 (profit/loss)10 ( )0.5 (before)10 ( )0.5 (tax.)10 ( )0.5 (The)10 ( )0.5 (adjusted)10 ( )0.5 (profit/)]TJ 0.025 Tc 0.031 Tw T* (loss before tax is measured consistently with the Group\222s profit befo\re tax except )Tj 0 Tw T* (that interest income and finance costs are excluded from such measuremen\t.)Tj 0.017 Tw 0 -2.462 TD (Intersegment sales and transfers are transacted with reference to the se\lling prices )Tj 0 Tw 0 -1.231 TD (used for sales made to third parties at the then prevailing market price\s.)Tj ET endstreamendobj154 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 7 \226)Tj 0.028 Tc 0.08 Tw 13 0 0 13 113.3858 776.3179 Tm [(the)3 ( )0.5 (focus)3.1 ( )0.5 (is)3 ( )0.5 (on)3 ( )0.5 (whether)3 ( )0.5 (acquired)3 ( )0.5 (inputs)3 ( )0.5 (and)3 ( )0.5 (acquired)3 ( )0.5 (substantive)3 ( )0.5 (processes)3.1 ( )]TJ 0.073 Tc 0.07 Tw 0 -1.231 TD [(together)12.1 ( significantly)12.1 ( contribute)12.2 ( to)12.1 ( the)12.1 ( ability)12.1 ( to)12.1 ( create)12.1 ( outputs.)12.1 ( The)48 ( )]TJ 0.025 Tc 0.055 Tw T* (amendments have also narrowed the definition of outputs to focus on good\s )Tj 0.061 Tw T* (or services provided to customers, investment income or other income fro\m )Tj 0.025 Tw T* [(ordinary )0.5 (activities. )0.5 (Furthermore, )0.5 (the )0.5 (amendments )0.5 (provide )0.5 (guidance )0.5 (to )0.5 (assess )]TJ 0.042 Tc 0.07 Tw T* [(whether)12.4 ( an)12.4 ( acquired)12.5 ( process)12.5 ( is)12.4 ( substantive)12.5 ( and)12.4 ( introduce)12.5 ( an)12.5 ( optional)12.5 ( fair)17 ( )]TJ 0.047 Tc T* [(v)0.5 (al)0.5 (u)0.5 (e)13 ( c)0.5 (o)0.5 (nc)0.5 (e)0.5 (n)0.5 (tr)0.5 (a)0.5 (ti)0.5 (o)0.5 (n)12.9 ( )0.5 (t)0.5 (e)0.5 (st)13 ( )0.5 (to)13 ( )0.5 (pe)0.5 (r)0.5 (m)0.5 (it)13 ( a)13 ( )0.5 (s)0.5 (im)0.5 (p)0.5 (li)0.5 (f)0.5 (ie)0.5 (d)13 ( a)0.5 (s)0.5 (s)0.5 (e)0.5 (ss)0.5 (m)0.5 (e)0.5 (nt)13 ( )0.5 (of)13 ( )0.5 (wh)0.5 (e)0.5 (th)0.5 (e)0.5 (r)13 ( a)0.5 (n)22 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.231 TD (acquired set of activities and assets is not a business. The Group has a\pplied )Tj 0.029 Tc 0.079 Tw 0 -1.231 TD [(the)4 ( )0.5 (amendments)4 ( )0.5 (prospectively)4 ( )0.5 (to)4 ( )0.5 (transactions)4 ( )0.5 (or)4 ( )0.5 (other)4 ( )0.5 (events)4 ( )0.5 (that)4 ( )0.5 (occurred)4 ( )]TJ 0.025 Tc 0.032 Tw T* [(on )0.5 (or )0.5 (after )0.5 (1 )0.5 (January )0.5 (2020. )0.5 (The )0.6 (amendments )0.6 (did )0.6 (not )0.6 (have )0.5 (any )0.5 (impact )0.5 (on )0.5 (the )]TJ 0 Tw T* (financial position and performance of the Group.)Tj 0.042 Tw -2.181 -2.462 Td [(\(b\) )-622.5 (Amendments to IFRS 9, IAS 39 and IFRS 7 address the effects of interbank\ )]TJ 0.078 Tc 0.07 Tw 2.181 -1.231 Td [(offered)12.7 ( rate)12.6 ( reform)12.6 ( on)12.7 ( financial)12.7 ( reporting.)12.7 ( The)12.7 ( amendments)12.7 ( provide)53 ( )]TJ 0.05 Tc T* [(temporary)12.6 ( reliefs)12.6 ( which)12.6 ( enable)12.6 ( hedge)12.6 ( accounting)12.6 ( to)12.6 ( continue)12.5 ( during)12.5 ( the)25 ( )]TJ 0.051 Tc T* [(period)12.2 ( of)12.2 ( uncertainty)12.2 ( before)12.2 ( the)12.1 ( replacement)12.2 ( of)12.2 ( an)12.2 ( existing)12.1 ( interest)12.1 ( rate)26 ( )]TJ 0.06 Tc T* [(benchmark.)12.3 ( In)12.2 ( addition,)12.3 ( the)12.3 ( amendments)12.3 ( require)12.3 ( companies)12.3 ( to)12.3 ( provide)35 ( )]TJ 0.029 Tc 0.079 Tw T* [(additional)4 ( )0.5 (information)4 ( )0.5 (to)4 ( )0.5 (investors)4 ( )0.5 (about)4 ( )0.5 (their)4.1 ( )0.5 (hedging)4 ( )0.5 (relationships)4 ( )0.5 (which)4 ( )]TJ 0.037 Tc 0.071 Tw T* [(are)12 ( )0.5 (directly)12 ( )0.5 (affected)12 ( )0.5 (by)12 ( )0.5 (these)12.1 ( )0.5 (uncertainties.)12 ( )0.5 (The)12 ( )0.5 (amendments)12 ( )0.5 (did)12 ( )0.5 (not)12 ( )0.5 (have)12 ( )]TJ 0.039 Tc 0.07 Tw T* [(any)12.8 ( impact)12.8 ( on)12.8 ( the)12.9 ( financial)12.8 ( position)12.8 ( and)12.8 ( performance)12.9 ( of)12.9 ( the)12.8 ( Group)12.8 ( as)12.8 ( the)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 TD (Group does not have any interest rate hedge relationships.)Tj 0.038 Tc 0.07 Tw -2.181 -2.462 Td [(\()13 (c)13 (\))13 ( )-637.5 (Amendment)12.8 ( to)12.8 ( IFRS)12.8 ( 1)12.8 (6)12.8 ( provides)12.8 ( a)12.9 ( practical)12.8 ( expedient)12.8 ( for)12.8 ( lessees)12.8 ( to)12.8 ( elect)13 ( )]TJ 2.181 -1.231 Td [(not)12.1 ( to)12.1 ( apply)12.1 ( lease)12.1 ( modification)12.1 ( accounting)12.1 ( for)12.1 ( rent)12 ( concessions)12.1 ( arising)12.1 ( as)13 ( )]TJ 0.051 Tc 0 -1.231 TD [(a)12.8 ( direct)12.8 ( consequence)12.8 ( of)12.7 ( the)12.8 ( covid-)12.8 (1)12.7 (9)12.8 ( pandemic.)12.7 ( The)12.8 ( practical)12.8 ( expedient)26 ( )]TJ 0.042 Tc T* [(applies)12 ( only)12.1 ( to)12.1 ( rent)12.1 ( concessions)12.1 ( occurring)12 ( as)12.1 ( a)12.1 ( direct)12.1 ( consequence)12.1 ( of)12.1 ( the)17 ( )]TJ 0.039 Tc T* [(c)0.5 (o)0.6 (v)0.5 (i)0.5 (d)0.6 (-)13 (1)13.1 (9)13 ( )0.5 (p)0.6 (a)0.5 (n)0.5 (d)0.6 (e)0.5 (m)0.6 (i)0.5 (c)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.5 (o)0.6 (n)0.5 (l)0.5 (y)13.1 ( )0.5 (i)0.5 (f)13.1 ( )0.5 (\()0.6 (i)0.5 (\))13 ( )0.6 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (c)0.6 (h)0.5 (a)0.5 (n)0.6 (g)0.5 (e)13.1 ( )0.5 (i)0.5 (n)13.1 ( )0.5 (l)0.5 (e)0.6 (a)0.5 (s)0.6 (e)13 ( )0.6 (p)0.5 (a)0.6 (y)0.5 (m)0.5 (e)0.6 (n)0.5 (t)0.5 (s)13.1 ( )0.5 (r)0.5 (e)0.6 (s)0.5 (u)0.6 (l)0.5 (t)0.5 (s)13.1 ( )0.5 (i)0.5 (n)14 ( )]TJ 0.029 Tc 0.079 Tw T* [(revised)4 ( )0.5 (consideration)4 ( )0.5 (for)4 ( )0.5 (the)4.1 ( )0.5 (lease)4 ( )0.5 (that)4 ( )0.5 (is)4 ( )0.6 (substantially)4 ( )0.5 (the)4 ( )0.5 (same)4 ( )0.5 (as,)4 ( )0.5 (or)4.1 ( )0.5 (less)4 ( )]TJ 0.026 Tc 0.082 Tw T* [(than,)1 ( )0.5 (the)1 ( )0.5 (consideration)1 ( )0.5 (for)1 ( )0.5 (the)1 ( )0.5 (lease)1 ( )0.5 (immediately)1 ( )0.5 (preceding)1 ( )0.5 (the)1 ( )0.5 (change;)1 ( )0.5 (\(ii\))1 ( )]TJ 0.025 Tc 0.078 Tw T* (any reduction in lease payments affects only payments originally due on \or )Tj 0.071 Tw T* (before 30 June 2021; and \(iii\) there is no substantive change to other\ terms )Tj 0.027 Tc 0.081 Tw T* [(and)1.9 ( )0.5 (conditions)2 ( )0.5 (of)2 ( )0.5 (the)1.9 ( )0.5 (lease.)2 ( )0.5 (The)2 ( )0.5 (amendment)2 ( )0.5 (is)2 ( )0.5 (effective)2 ( )0.5 (retrospectively)2 ( )0.5 (for)2 ( )]TJ 0.041 Tc 0.07 Tw T* [(annual)12.1 ( periods)12.2 ( beginning)12.1 ( on)12.1 ( or)12.2 ( after)12.1 ( 1)12.1 ( June)12.2 ( 2)12.1 (0)12.2 (2)12.1 (0)12.1 ( with)12.2 ( earlier)12.2 ( application)16 ( )]TJ 0.071 Tc T* [(permitted.)12.6 ( The)12.6 ( amendments)12.6 ( did)12.6 ( not)12.6 ( have)12.6 ( any)12.6 ( impact)12.6 ( on)12.5 ( the)12.7 ( financial)46 ( )]TJ 0.025 Tc 0.055 Tw T* (position and performance of the Group as the Group does not have any ren\t )Tj 0.009 Tw 0 -1.231 TD (concessions arising as a direct consequence of the covid-19 pandemic dur\ing )Tj 0 Tw 0 -1.231 TD (the period.)Tj 0.074 Tw -2.181 -2.462 Td [(\(d\) )-590.5 (Amendments to IAS 1 and IAS 8 provide a new definition of material. 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