Ninghu Expressway Xianrenshan Heavy-Duty Truck Battery Swap Station Commences Operation

On May 22, Wanhua Chemical held a performance presentation for the 2025 annual and the first quarter of 2026. The first phase of the Haiyang 100,000 tons/year LFP project commenced production in March of this year, with construction simultaneously starting on the second and third phases, each with a capacity of 200,000 tons/year, in the same location. The first phase of the Laizhou 320,000 tons/year LFP project started construction in March and is also planned to be commissioned by the end of this year. In 2026Q1, Wanhua Chemical's net cash flow from operating activities reached 6.857 billion yuan, a YoY increase of more than tenfold, driven by higher current period profits and improved accounts receivable and inventory turnover efficiency.

The expansion adds new mineral resources and replicates the existing complete beneficiation production line. Once completed, annual spodumene capacity will reach 4.4 million mt, while annual lithium hydroxide production will remain unchanged at 50,000 mt. The mine is held 50/50 by Chile's SQM and Australia's Wesfarmers, with operations managed by their joint venture Covalent Lithium. The expansion is also expected to extend the mine's operational life. Located 400 kilometers east of Perth, the mine commenced production in March 2024. This expansion will further consolidate its position as a core global lithium resources supplier.

Recently, Hunan Yuneng New Energy Battery Material Co., Ltd. issued an announcement stating that it plans to issue overseas-listed foreign shares (H-shares) and apply for listing on The Stock Exchange of Hong Kong Limited. As a globally leading supplier of cathode materials for lithium-ion batteries, Hunan Yuneng's core products are cathode materials such as lithium iron phosphate, widely used in the manufacturing of power batteries and energy storage batteries. It is deeply tied to leading enterprises such as CATL and BYD, serving as a core supplier in the energy storage battery material sector.