On November 13, 2022, Chen Xuehua, Chairman of the Group, was invited to participate in the B20 Summit that was held in Bali, Indonesia. During the opening ceremony, Huayou Cobalt signed a Definitive Cooperation Agreement with Vale Indonesia for Pomalaa High Pressure Acid Leaching (HPAL) Project to process Vale Indonesia's nickel ore mined in Pomalaa Mining Area, Kolaka County, Southeast Sulawesi Province. This cooperation marks a significant step for Huayou to realize its industry chain integration strategy in Indonesia.