On June 10, Crystal New Material announced that its subsidiary, Jiangsu Tanguerwei New Material Technology Co., Ltd. (hereinafter "Tanguerwei"), has signed a graphene supply contract for 10 tons with its strategic partner, Shanghai Haizhizhu Industrial Co., Ltd. (hereinafter "Shanghai Haizhizhu"). The total contract value amounts to 8.5 billion KRW (45 million yuan).
This marks the third contract between the two companies, following the cumulative delivery of 4 tons of graphene in 2023. The first contract, signed in July 2023, saw Tanguerwei agree to supply 1 ton of graphene to Shanghai Haizhizhu. Subsequently, in October of the same year, the two companies signed an additional order for 3 tons, based on positive feedback and mutual trust.
Crystal New Material explained that this demonstrates the deep trust its high-quality graphene products have built in the advanced manufacturing market. In particular, the success of this 10-ton contract represents a milestone in Crystal New Material's comprehensive transition and upgrade to an AI-driven strategy over the past year.
In recent years, Crystal New Material has accelerated its transformation into an "AI-driven materials technology platform," establishing a virtuous cycle system for research, development, and production with AI at its core. As a result, this contract is considered a representative case of practical application of various AI technologies.
A representative from Shanghai Haizhizhu stated, "The graphene products we purchased have demonstrated excellence in several key projects and have received high praise from high-end clients. The decisive reason for expanding our cooperation was Crystal New Material's continued investment and achievements in integrating AI with new materials in recent years."
The representative added, "Going forward, we will further deepen our strategic cooperation with Crystal New Material to realize the long-term vision of 'reinventing new materials with AI' together."
Dai Zhongqu, CEO of Crystal New Material, commented, "This order indicates that the market highly values our products and the results of our technological transformation. We will continue to expand our R&D investments in the convergence of AI and materials, strengthen collaborative capabilities with partners such as Shanghai Haizhizhu, and further accelerate the expansion of applications in advanced fields such as new energy and new materials."
He continued, "We expect the share of our AI capability enhancement business to surpass 20% by 2025. This cooperation is not only a 'seal of quality approval,' but also an important milestone in our journey toward becoming an AI-driven technology platform. We believe Crystal New Material has the capability and confidence to redefine value boundaries in the new materials industry."
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