[Sichuan Development Lomon Cancels Deyang LFP Project]

Published: Jun 28, 2026 22:53

Save

On June 26, Sichuan Development Lomon announced that its wholly-owned subsidiary, Deyang Sichuan Development Lomon, had previously planned to establish a wholly-owned subsidiary in the Xinshi Chemical Industrial Park in Mianzhu City, Sichuan Province, to invest in and construct a 100,000-ton-per-year lithium iron phosphate (LFP) project. However, in view of changes in market conditions and in order to optimize resource allocation, and after comprehensive consideration of the actual implementation conditions and other relevant factors, the Board of Directors, following prudent deliberation, approved the termination of the establishment of the wholly-owned subsidiary by Deyang Sichuan Development Lomon. As of the date of this disclosure, the above investment had not been substantively initiated or implemented. The termination of this investment will not have an adverse impact on the Company, and there is no harm to the interests of the Company or its shareholders as a whole.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

XTC New Energy Materials to Set Up HK Subsidiary, Invest $64.58M in Malaysian Cathode Material Project

XTC New Energy Materials (Xiamen) announced that it plans to establish a wholly-owned subsidiary in Hong Kong, Hong Kong XTC New Energy Materials, and then to set up a joint venture, Malaysia XTC New Energy Materials, in Malaysia through Hong Kong XTC New Energy Materials and EMI. Malaysia XTC New Energy Materials will invest $64.58 million to carry out the 10,000 mt/year lithium-ion cathode material project. The construction period is planned to run from September 2026 to June 2027, with a total construction period of 10 months. The project will be funded by Malaysia XTC New Energy Materials' own and self-raised funds.

Common.Time.minsAgo

[Lithium Battery: Changhong Energy's Malaysia Lithium Battery Project Approved By Mianyang SASAC]

On June 26, Changhong Energy announced that it had received, through its controlling shareholder Sichuan Changhong Electronic Holdings Group Co., Ltd., an approval document from the Mianyang State-owned Assets Supervision and Administration Commission, granting in-principle approval for Changhong Sanjie New Energy Co., Ltd. to invest in and construct a lithium battery production line project in Malaysia. The total investment for the project does not exceed approximately 999.3467 million yuan. The construction of this high-rate lithium battery Malaysia production base project is still subject to approval by the company's shareholders' meeting.

Common.Time.minsAgo

Common.Time.hoursAgo

【SMM Flash】Russia Extends Industrial Sulphur Export Ban Through End-2026

Russia has officially extended its temporary sulphur export ban until December 31, 2026, according to Government Decree No. 785 signed on June 25, 2026. The ban was originally set to expire on June 30. The restriction continues to cover liquid, granular and lump sulphur. The Russian government stated that the move aims to prioritise domestic fertiliser production and safeguard national food security. Exemptions apply to exports destined for Eurasian Economic Union (EAEU) member states (including Belarus, Kazakhstan, etc.), as well as Abkhazia and South Ossetia. Sulphur shipments for humanitarian aid and international transit are also permitted under special licenses. The impact of the ban and broader market conditions has weighed on domestic output: Russia's industrial gaseous sulphur production fell 19% year-on-year to 1.75 million tonnes in January-May 2026.

Common.Time.hoursAgo