Tengyuan Cobalt announced on the evening of April 20 that in order to further ensure the supply of raw materials for domestic cobalt smelting enterprises after the company's expansion, the company plans to use its own technological advantages and SAWA CONGO MINING SARL (SAWA Group)'s resource advantages in the Democratic Republic of the Congo. The company's wholly-owned subsidiary Hong Kong Tengyuan and Hong Kong Kenvista, which is under the same control of the actual controller of the SAWA Group, jointly invested to establish a joint venture in Hong Kong and set up a project operating company in the Democratic Republic of the Congo through the joint venture to carry out copper mine project cooperation. It plans to purchase new land in the Democratic Republic of the Congo to build a hydrometallurgical plant project with an annual output of 30,000 tons of copper and 2,000 tons of cobalt. The project investment amount is 980 million yuan, and the construction period is 18 months. The 2024 annual report disclosed by Tengyuan Cobalt at the same time shows that the company achieved a net profit of 685 million yuan in 2024, an increase of 81.24% year-on-year. The company plans to pay a cash dividend of 5 yuan (including tax) for 10 shares.