According to CoinMeta, Xingyuan Materials announced that its wholly-owned subsidiary, European Xingyuan, has signed a "designated supplier agreement" with a subsidiary of Volkswagen's power battery division in Germany. The agreement stipulates that from 2027 to 2034, European Xingyuan will supply approximately 1.558 billion square meters of wet-coated lithium-ion battery separator materials to the client. The company expects to sign the "designated supplier agreement" with this client in November 2024 and will supply a total of about 2.09 billion square meters during the period from 2025 to 2032. If the agreement is successfully fulfilled, it is expected to supply a total of about 3.6 billion square meters to this client. This agreement is a framework agreement and does not constitute a performance commitment.