Recently, the "HUAYOU" brand of electrolytic nickel (Ni99.96), produced through the electroplating process, has successfully registered as a delivery brand for nickel futures standard contracts on the Shanghai Futures Exchange (SHFE)，  which reflects the exceptional standards and quality of HUAYOU's nickel products, showcasing their advanced technological processes, exemplary management practices, and exceptional service capabilities in the domestic market. It also represents a significant stride towards promoting innovation in the hedging business model within the non-ferrous metal industry chain futures.

To further enhance the market circulation, brand value, and brand cognitive of "HUAYOU" nickel products, the company has actively engaged with the SHFE since January 2023 to apply for the registration of "HUAYOU" brand electrolytic nickel as a delivery brand. Following rigorous on-site inspections and sampling tests, the SHFE has determined that HUAYOU Cobalt's "HUAYOU" brand electrolytic nickel meets all the requirements to become a certified delivery brand. 

With the successful registration of the "HUAYOU" brand as a delivery brand for nickel products, they can now be officially delivered in the futures market. This achievement not only empowers the products, further enhancing the company's reputation, but also opens up new avenues for risk management. Going forward, the company will continue to strive for seamless integration between the futures and spot markets, leveraging the price discovery and hedging functions of the futures market to drive innovation in marketing models and foster high-quality development within the group. 

It is worth noting that the Shanghai Futures Exchange is one of China's four major authoritative exchanges, maintaining stringent requirements for registered delivery brands concerning product quality, company management, and market recognition. The SHFE boasts highly available and high-performance computer trading, settlement, and risk control systems, ensuring real-time efficiency and security for remote trading through technologies such as high-capacity fiber optics and dedicated data lines. The successful registration of the "HUAYOU" brand as a delivery brand on the SHFE is a testament to the SHFE's commitment to serving the real economy, providing solid support for this achievement.