Due to changes in the external market environment and industry competitive landscape compared to the previous period, and in consideration of the Company's actual operating conditions and overall strategic layout, after prudent deliberation and thorough evaluation, the Company has decided to adjust its overall investment strategy, terminate the Malaysia project, in order to further optimize resource allocation and reduce investment risks.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Stable This Week (2026.5.18-5.21)] From May 18 to May 21, 2026, electrolyte prices remained stable. As raw material price increases were gradually passed through to downstream sectors, there are expectations and room for electrolyte prices to rise in the future market.

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Anode Costs Under Pressure, Prices Remained Steadily Firm] May 21: This week, artificial graphite anode material prices remained stable. Supply-demand side, effective capacity in the industry remained tight with no new capacity release for the time being.

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Rigid Cost Support from Graphitisation Tolling Services, Stagnant Market Difficult to Loosen] May 21: This week, China's graphitisation tolling services processing prices maintained a stalemate pattern. In terms of supply and demand, affected by the rise in overall costs across the entire industry chain

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Anode Raw Material Coke Supported by Both Cost and Supply Factors, Market Prices Remained Firm and Stable] May 21: This week, anode raw material coke market prices in China remained firm.

This week, prices in the second-life application market remained largely stable overall, with relatively small fluctuations and a strong wait-and-see sentiment, resulting in a relatively subdued trading pace. Cost side, spot lithium carbonate prices continued to trend lower throughout the week, and although a slight rebound occurred during the period, it failed to reverse the downward trend, with overall prices maintaining a downward trajectory. Cobalt sulphate and nickel sulphate prices were simultaneously adjusted slightly downward, and the lithium battery raw materials market was in the doldrums overall. Supply side, major second-life enterprises maintained a stable shipment pace, with normal circulation of goods in the market, and no concentrated shipments or stockpiling by enterprises. The market currently lacks incremental supply, with raw material procurement and finished product shipments maintaining daily levels, and the overall supply landscape remained stable. Demand side, when lithium carbonate prices were previously at high levels, there was an intention in the market to raise battery cell prices, and downstream procurement enthusiasm increased somewhat. With prices of various lithium battery raw materials continuing to trend lower recently, cost support has weakened, and market expectations for price hike have completely dissipated. Downstream procurement attitudes have turned cautious, market willingness to adjust prices is sluggish, industry quotations generally remained stable, and significant market movements are unlikely in the short term.