December 16 marked a strategic milestone in the development history of Yulong Technology. We are honored to announce that Yulong Technology and Korea's renowned secondary battery recycling equipment company, DY ENG, formally signed a joint venture agreement at Yulong's Wuxi headquarters, leading to the establishment of YDK Technology Company in Korea. This in-depth collaboration signifies the comprehensive integration of both parties' advantageous resources. Together, we will provide more competitive products and comprehensive solutions to serve the global new energy market.
I. Strategic Signing: Joining Hands to Open a New Chapter in Globalization
For this signing ceremony, we celebrated together with our important partner, DY ENG. DY ENG's core management, including Representative Shin Dong-yeop, Director Jung Young-il, and Manager Lee Kwang-ho, graced the event in Wuxi. They were joined by Mr. Bian Haoguang, Chairman of Yulong Technology, and CEO Tu Yulong, who led Yulong's core team to witness this occasion. Under the collective attention of both teams, CEO Tu Yulong of Yulong Technology and Representative Shin Dong-yeop of DY ENG successfully completed the signing.
This cooperation stems from long-term business collaboration, deep mutual trust, and a shared judgment on the industry's future. We firmly believe this is a strategically complementary and mutually beneficial choice between Chinese and Korean enterprises in the high-end manufacturing sector. The establishment of the YDK joint venture is not merely a combination of capital and technology; it is a critical step in Yulong Technology's globalization strategy and a significant practice in our exploration of deep integration and collaborative expansion into the international market.
II. Powerful Synergy: Complementary Strengths Lay a Solid Foundation
The successful launch of the joint venture benefits from the tremendous synergistic potential created by the highly complementary core capabilities of both parties.
Yulong Technology's Solid Foundation: As one of the few domestic enterprises possessing capabilities in new energy material equipment manufacturing and EPCM turnkey contracting, our core strengths lie in the independent R&D of core material manufacturing equipment and EPCM turnkey contracting capability for complete manufacturing systems. Our business spans the entire project lifecycle, from feasibility analysis, factory design, core equipment manufacturing, and intelligent production line integration (EPC "turnkey project") to post-commissioning operation maintenance, technical transformation, and personnel training. Through years of dedicated effort, we have accumulated profound experience in the R&D of core equipment for new energy materials, large-scale factory delivery, and quality control, committed to providing customers with comprehensive and reliable assurance from "manufacturing" to "intelligent manufacturing."
DY ENG's Cutting-Edge Innovation: Our partner, DY ENG, is a well-known Korean enterprise focused on the R&D and manufacturing of specialized equipment and processes for secondary battery material production and recycling. It has long served leading Korean battery and material companies such as LG Chem and SK On. Its exceptional innovative capabilities in refined equipment and frontier process development provide powerful momentum for our joint technological breakthroughs.
III. Future Vision: Based in Korea, Serving the World
The newly established YDK joint venture will serve as a core platform integrating the advantages of both parties, undertaking a clear strategic mission:
Promoting Deep Localization of Market and Service: YDK will initially focus on serving the Korean domestic market and the overseas factories of Korean enterprises. Through localized operations, we aim to eliminate differences in service standards and culture, significantly shorten customer response times, provide technical support and customized solutions that better meet regional market demands, and comprehensively enhance service efficiency and customer experience.
Building Joint Competitiveness in Technology and R&D: Through supply chain optimization and joint R&D, YDK will fully integrate China's efficient manufacturing system with Korea's advanced R&D capabilities. We are committed to creating a product portfolio that is internationally competitive in terms of technical performance, production efficiency, and overall cost, thereby delivering higher value to global customers.
IV. Co-creating the Future: Pioneering a New Model of Industrial Cooperation
Against the backdrop of global energy transformation and the restructuring of industrial chains, the deep cooperation between Chinese and Korean enterprises, as vital forces in the global new energy industry, holds extraordinary significance. Through the establishment of this joint venture, Yulong Technology and DY ENG are actively exploring an effective path to integrate "China's high-end manufacturing system capabilities" with "Korea's material R&D and innovation advantages."
This cooperation transcends simple business transactions; it is an important attempt at model innovation. We anticipate that the successful operation of YDK will provide a new benchmark case for the overseas expansion of China's high-end equipment enterprises and for win-win international industrial cooperation.
Looking forward, Yulong Technology will engage with global partners in a more open and resolute manner, jointly driving the progress and development of the new energy industry.
