Hong Kong meeting, page-41

Huayou does all their cobalt processing 30,000+ tons per annum. AVZ being connected to Huayou with Huayou clearly stating at their processing facilities they want to be the biggest battery materials manufacturer on the planet.

BNBT & BTR are direct competitors to Huayou and currently #2 battery materials maker in China.

Shanshan is currently #1 and also direct competitor to Huayou.

IMO Huayou's goal is to secure AVZ. This fulfills their lithium requirement and gets them to where their sign states the obvious.