Another lithium battery cathode material project has been temporarily suspended

Zhenhua New Materials announced on April 25 that the company held a board meeting and a supervisory board meeting on April 24, 2025, and deliberated and approved the "Proposal on Re-evaluating and Temporarily Suspending the Implementation of the Investment Project with Raised Funds."

According to the proposal, the company will temporarily suspend the implementation of the cathode material production line construction project (Yilong Phase III). As of December 31, 2024, the cumulative investment amount for the project was 0 yuan. The reason for the company's re-evaluation and temporary suspension of the project is due to changes in the downstream market environment, which have affected the project's expected returns and introduced uncertainties. The company will decide whether to continue with the project based on market demand, the necessity of construction, and the project's expected returns.