FANGYUAN announced that the company has signed a cooperation agreement with a certain Japanese enterprise and the target company to collaborate on the development and production of NCMA/NCA/NCM series precursors in Japan through technology output and equity participation. The company will provide technology and processes to the target company and will receive a total of 4.8 billion yen in technical service fees, design fees, and operational technology usage fees in batches according to the project implementation stages. It is expected that 1.24 billion yen can be collected within 2025. This cooperation is expected to have a positive impact on the company's operating revenue and net profit for the current and subsequent years