[Ningbo Liqin, China's largest nickel resources trader, applied for overseas initial public offering] recently, the CSRC announced the progress of the approval of overseas initial public offering shares (including common shares, preferred shares and other derivative forms of shares) of Ningbo Liqin Resources Technology Co., Ltd., which has reached the stage of receiving materials. Following the HPAL nickel-cobalt project, Liqin Resources will continue to build the RKEF fire nickel smelting project on OBI Island from 2021, and 20 nickel-iron production lines are expected to be put into production from 2022 to 2024.