Huayou Cobalt Industry announced on the evening of December 25th that the company has recently completed the signing of delivery documents, share subscription payments, and equity change filing procedures related to this transaction with Ford Motor and Vale Indonesia. After the completion of this transaction, Huaqi Singapore holds 73.2% equity of KNI Company, Ford Motor holds 8.5% equity of KNI Company, and Vale Indonesia holds 18.3% equity of KNI Company. Within the agreed timeframe, Ford Motor will ultimately choose to participate in the subscription of 8.5% or 17% equity in KNI Company, and Vale Indonesia will have the right to exercise up to 30% of KNI Company's participation options. The final equity structure of KNI Company will depend on the actual exercise situation of all parties.