[Lithium Battery: Fujian Xinluo Manganese-Based New Energy Materials Project Breaks Ground]

Recently, the signing ceremony for the 30,000-tons/year hard carbon anode material project of Hunan Jidian Teneng Technology Co., Ltd. was held, with the project settling in Shuifu City, Yunnan Province. The project has a total investment of 500 million yuan and is expected to achieve an annual output value of 750 million yuan upon reaching full production capacity. The project is invested and constructed by Hunan Jidian Teneng Technology Co., Ltd., and upon implementation, its wholly-owned subsidiary Yunnan Jitan New Materials Co., Ltd. will be fully responsible for the project's construction, production, and operation. The project's products are hard carbon anode materials, primarily used in sodium-ion batteries and energy storage batteries. Jidian Teneng was founded by a professorial team from the School of Materials Science and Engineering of Hunan University, possessing core independent technologies in the hard carbon anode material sector, with product performance comparable to top international standards.

CATL announced plans to repurchase its A-shares using self-owned or self-raised funds via centralized competitive trading, with a total repurchase amount of no less than RMB 20 billion and no more than RMB 40 billion, at a maximum price of RMB 573 per share. The upper limit of this buyback plan surpasses Gree Electric's 2021 buyback proposal, ranking first in A-share history.

CATL released an investor relations activity record showing H1 power and energy storage battery sales up approximately 60% YoY, with energy storage batteries accounting for about one-quarter of total sales. The company stated the energy storage market will maintain rapid growth through next year, with capacity utilization basically saturated in H1. The 587Ah large energy storage cell has achieved scaled delivery, with energy storage systems accounting for nearly 70%. The company is optimistic about AIDC business prospects.