Tianqi Lithium Corporation (002466.SZ): The company is conducting impairment testing on the lithium hydroxide project based on the latest developments.

Tianqi Lithium Corporation (002466.SZ) announced that the company initiated the "annual production of 24,000 tons of battery-grade lithium hydroxide monohydrate" and the "second phase annual production of 24,000 tons of battery-grade lithium hydroxide monohydrate project" in 2016 and 2017 respectively (hereinafter referred to as the "lithium hydroxide project"). The above-mentioned lithium hydroxide projects are implemented by the wholly-owned subsidiary of the company's controlling subsidiary TLEA in Australia, Tianqi Lithium Kwinana Pty Ltd. As of the disclosure date of the announcement, the company holds 51% of the registered capital of the controlling subsidiary TLEA, and IGO Limited's wholly-owned subsidiary IGO Lithium Holdings Pty Ltd holds 49% of the registered capital of TLEA. According to regulations, in the process of preparing the annual report for 2024, the company is conducting impairment tests on the above-mentioned lithium hydroxide projects in conjunction with the latest information, and is in continuous communication with the management of TLEA to confirm relevant information. As of now, a final conclusion has not yet been reached on the assumptions and results of the impairment test. In order to accurately reflect the financial position and operating results of the company as of December 31, 2024, based on the principle of prudence, the company is still analyzing and evaluating the lithium hydroxide projects in accordance with relevant regulations such as the Enterprise Accounting Standards, whether they meet the conditions for asset impairment provisions and the amount of impairment provision still needs further verification and confirmation. The announcement shows that if the company determines later that it will make asset impairment provisions for the project, the confirmed amount of asset impairment losses will have a significant impact on the company's operating performance for the year 2024, and the company will fulfill its disclosure obligations in a timely manner.