Dowstone Technology announced on November 25 that it agreed its subsidiaries Hong Kong Jiana and Guangdong Jiana to sign the Purchase Contract with POSCO Chemical (the buyer). The subject of the contract is the NCM precursor (high-grade nickel). The contract period is from January 2023 to December 2025, and the estimated total contract amount records about RMB5.9 billion (USD818 million), accounting for 89.82% of the company's audited operating income in 2021.