Beijing Easpring Material Technology (SHE:300073) signed a purchase agreement with SK Inc.'s (KRX:034730) battery-making unit, SK On, according to a Shenzhen Stock Exchange filing on Monday.
SK On will purchase up to 17,000 tons of lithium battery-positive electrode materials from the Chinese lithium battery cathode materials manufacturer between 2025 and 2027.
Easpring will also prioritize the allocation of its Finnish and Chinese factories' production capacity to SK On, the disclosure said.
Both parties will negotiate the additional purchase of 110,000 tons of lithium battery-positive electrode materials from 2026 to 2028.
The company's shares dropped less than 4% in recent trade.
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