In late December, 2021, China North Rare Earth made the announcement that the Company and China Rare Earth entered into Framework Agreement on Strategic Cooperation.The both parties reached consensus in below aspects: to strengthen communication in current rare earth business of China Rare Earth, and to initiate cooperation in capacity of south mine and north mine; to initiate cooperation in rare earth trading and rare earth deep processing, and to extend rare earth cooperation industry chain; to keep in close communication and negotiation with each other and to give full play to the overseas assets platform of China Rare Earth to activate the assets of both parties and consolidate industrial concentration of both parties; to adopt multiple cooperation models based on projects and market situation, and the both parties agree to provide the most favorable cooperative conditions for each other to facilitate benign operation of projects, and investment cooperation agreements will be otherwise signed.

According to North Rare Earth, this Agreement is not only the guidance document for the Company and China Rare Earth to make further development but also the basis for them to sign related specific agreements in the future.The Company’s strategic cooperation with China Rare Earth is conducive to complementing each other's advantages and enhancing market competitiveness; it is conducive to improving and enhancing strengths in each other's resource, channel and cost, and reaching mutual benefit and win-win result, thus providing support for the Company to realize development goals and gaining quality development.

According to information, China Rare Earth is a company got listed in 1999 in HKEX engaged in rare earth and fireproofing production.Board Chairman: Qian Yuanying.Total stock issue: 2.342 billion shares.Abbreviation of securities: China Rare Earth.Stock code: 00769.HK.The Company is operated in two divisions: rare earth division is devoted to manufacturing and sales of rare earth products, and fireproofing division is devoted to manufacturing and sales of fireproofing products.The Company’s businesses cover China, Europe countries, Japan and Southeast Asian countries.