*St Zhongrong ((000982): Signed School Enterprise Strategic Cooperation Agreement With Shanghai University

Stock Code: 000982 stock abbreviation: * ST Zhongrong Announcement No.: 2021-26

Announcement of Ningxia Zhongyin cashmere Co., Ltd. on signing "strategic cooperation agreement" between University and enterprise with Shanghai University

The company and all members of the board of directors guarantee that the information disclosure content is true, accurate and complete, and there are no false records, misleading statements or major omissions.

1、 Signing of the agreement

Ningxia Zhongyin cashmere Co., Ltd. (hereinafter referred to as "the company" or "party a") and Shanghai University (hereinafter referred to as "Shanghai University" or "Party B") signed the school enterprise strategic cooperation agreement (hereinafter referred to as "this Agreement") on March 30, 2021. Under the principle of complementary advantages, mutual benefit, mutual support and common development, the two sides decided to give full play to the advantages of both schools and enterprises, establish a cooperative partnership, and jointly carry out key technology exploration and innovation research and new process application in the field of high-performance lithium-ion battery anode and cathode materials, so as to realize the industrialization of scientific research and technology.

This cooperation is valid for 3 years. From the date of this agreement, the company shall pay Shanghai University a special fund of RMB 1 million every year as the research fund of Party B base of the joint research laboratory.

The signing of this Agreement does not involve related transactions, nor does it constitute a major asset restructuring as stipulated in the administrative measures for material assets reorganization of listed companies. According to the Listing Rules of Shenzhen Stock Exchange and the articles of association of the company, the signing of this Agreement does not need to be deliberated by the board of directors and the general meeting of shareholders.

2. Basic information of the parties to the agreement

Shanghai University, established in 1994, is a comprehensive university under Shanghai municipal government and under the key construction of the national "211 Project", and a national double first-class discipline construction University jointly constructed by Shanghai, the Ministry of education and the State Administration of science, technology and industry for national defense.

Shanghai University has a lithium-ion battery research center of Sustainable Energy Research Institute, which is committed to innovating electrochemical energy technology and helping social sustainable development. The team has 10 doctoral students and 30 graduate students. The main research directions are: application technology of lithium iron phosphate cathode material, application technology of NCA high nickel cathode material, modification application technology of lithium rich manganese cathode material, application technology of silicon carbon anode material, high voltage electrolyte and additives

Research and development frontier of lithium ion battery technology.

3、 Main contents of the agreement

(1) establishment of joint research laboratories and scientific research bases

Both parties shall cooperate to establish a joint research laboratory, and set up two scientific research bases of Party A and Party B respectively, and jointly list their names. The functional orientation of Party A's scientific research base is as follows:

1. Improve the function of 100kg lithium iron phosphate pilot line: Research on raw materials, process parameters, new process and new formula, improve production efficiency and reduce production cost.

2. Improve the on-line and off-line detection standards of lithium iron phosphate production line: condense the online or offline rapid detection methods and standards of each process link of refining production, monitor the production process, and improve the qualified rate and quality stability of finished products.

3. Improve the effective quality control index, measurement method and qualified range of various materials in the stage of raw materials and finished products of LiFePO4.

The functions of Party B's scientific research base are as follows:

1. Prospective lithium iron phosphate process research: for the new formula and new process with significant breakthrough in the performance index of lithium iron phosphate material, or the new process, new raw material and new reaction path with great competitive advantage in the manufacturing cost of lithium iron phosphate material, so as to reserve for the continuous progress of technology.

2. Conduct basic material research and Analysis on the problems occurred in the production process or pilot test process of Party A's scientific research base: for abnormal charging and discharging capacity, abnormal coulomb efficiency and abnormal cycle performance, fine characterization and analysis shall be carried out for relevant materials, such as phase purity, grain size, carbon coating state, element valence state, impurity elements, etc A criterion is given.

3. Relying on the super carbon laboratory platform of Party B, evaluate the processing performance, high and low temperature performance, specific capacity, internal resistance, etc. of the materials according to the level of finished batteries, and guide the finalization of physical and chemical indexes of various types of LiFePO4 materials.

(2) R & D and technology transformation

1. Party A takes Party B as the scientific research cooperation and technical support, focuses on the transformation of Party B's advanced and applicable technologies, and carries out cooperation in various forms, such as entrusted research and development, cooperative research and development, paid transfer of technology, promotion of new achievements, exclusive patent license, patent technology research and development, and personnel training. Party A and Party B will also jointly declare and tackle key scientific research projects and scientific and technological projects at all levels of the state, provinces and cities around the national medium and long-term science and technology development plan.

2. Under this agreement, according to the actual situation of specific scientific research projects, Party A and Party B shall implement a one-to-one discussion system for the scientific and technological cooperation projects proposed by both parties. Under the principle of this agreement, a special agreement or contract shall be signed to clarify the responsibilities, rights, obligations and benefit distribution under the specific scientific research projects of both parties.

3. Party a mainly invests in the project research funds, pilot scale test and industrialization conditions, and the input contents shall be negotiated separately according to the specific project operation conditions; Party B shall mainly provide investment and guarantee in R & D team and operation mechanism.

4. The relevant fixed assets purchased by Party A for scientific research funds shall be owned by Party A, and Party B shall have the right to use them within the cooperation period or agreed scope; at the same time, Party B shall provide necessary support for the cooperation between the two parties with existing experimental resources.

(3) cooperative organizations and their responsibilities

1. Decision making mechanism

Party A and Party B shall establish a strategic cooperation management committee (hereinafter referred to as the "management committee") as the highest decision-making organization, responsible for the decision-making of major issues such as the annual plan, and promote the effective implementation of long-term cooperation. The management committee is composed of the relevant leaders of both parties and the main persons in charge of the business departments. The director of the management committee shall be appointed by Party B, and the deputy director shall be appointed by Party A. The implementation of cooperation projects and the use of funds and other daily management work of Party A and Party B shall be jointly approved and confirmed by both parties and implemented accordingly.

2. Operation mechanism

The management committee holds a strategy seminar every year. Carry out communication activities as required. Both parties shall set up cooperation liaison personnel to be responsible for daily affairs communication, which is composed of personnel appointed by Party A and Party B respectively.

(4) funds and time limit for scientific research

1. The validity period of this cooperation is 3 years, which is calculated from the effective date of this agreement. After the expiration, the next round of cooperation period will be determined according to the cooperation situation and willingness of both parties.

2. Party A shall pay 1 million yuan to Party B every year as the research fund of Party B's base of joint research room, which is specially used for the daily management and related technical development expenses of Party B's base.

The technical development expenses required for the cooperative R & D project shall be confirmed by the special technology development entrustment agreement or cooperative development agreement signed by both parties separately. If the advance payment of scientific research funds paid by Party A to Party B is not enough to pay the technology development expenses in full, Party A shall follow the above special technology development entrustment agreement or cooperative development agreement

To make up for the payment.

3. The actual use of Party B's scientific research funds shall be reported to the Management Committee on an annual basis, and the corresponding expenditure vouchers shall be provided.

(4) intellectual property protection

1. Both parties agree that any patents, utility models and copyrights researched, developed and created by Party A and Party B shall be declared by Party A as the first applicant, and the relevant intellectual property rights shall be jointly owned by Party A and Party B, and the relevant personnel of both parties shall enjoy the right of signature; the above achievements shall be subject to the cooperation of Party A and Party B for industrialization, such as external transfer or license With written consent.

2. The income generated after the application of the achievements shall be distributed by both parties according to the contribution, and the specific agreement shall be signed by both parties when the achievements are industrialized.

3. The relevant personnel of Party A and Party B participating in the technical project shall have the right to indicate the person completing the technical achievement in the relevant technical achievement documents, obtain relevant honorary certificates and awards, and publish papers in relevant domestic and foreign scientific and technological journals on the premise of not disclosing the core secrets of the project. However, neither party shall sign any agreement in violation of this agreement with the relevant personnel participating in the technical project regarding the right to apply for intellectual property rights and the ownership of intellectual property rights.

4. Party A and Party B have the right and obligation to apply for science and technology project funding for the jointly developed and proposed technology project. The funds obtained from other channels are mainly from the project sponsor, and will be allocated according to the relevant policies and regulations of the project management organization when jointly applying for the project and the agreement signed by both parties separately.

4、 Impact on the company

1. This cooperation enables the two sides to reach a strategic cooperation in science and technology research and development in the field of high-performance lithium-ion battery positive and negative electrode materials, and establish a long-term mechanism of close combination of school enterprise production, teaching and research. The close combination of "production, learning and research" will give full play to the advantages of both schools and enterprises, comprehensively improve their independent scientific and technological innovation ability, assist enterprises to complete the construction of technological innovation system and strategic transformation, contribute to the company's development in the field of high-performance lithium-ion battery positive and negative materials, improve the company's core competitiveness, and conform to the company's long-term development strategy and the interests of all shareholders Benefit.

2. This cooperation is helpful to promote the development of high performance lithium ion battery positive and negative materials technology

To develop and improve the company's core competitiveness and sustainable operation ability is in line with the company's long-term development strategy and the interests of all shareholders.

5、 Risk tips

1. The purpose of this agreement is to clarify the strategic cooperation between the two sides, and to provide the basis and guiding principles for the specific cooperation items and specific cooperation agreements. The specific cooperation projects and progress will be further implemented and promoted according to the follow-up work steps of both parties. The implementation of the items mentioned in the strategic cooperation agreement is likely to change.

2. The company will timely fulfill the relevant information disclosure obligations according to the cooperation progress in accordance with the relevant provisions, and please make rational investment and pay attention to the investment risks.

6、 Documents for reference

School enterprise strategic cooperation agreement between Ningxia Zhongyin cashmere Co., Ltd. and Shanghai University

It is hereby announced.

Board of directors of Ningxia Zhongyin cashmere Co., Ltd

March 31, 2012