Tianqi Lithium Corporation (002466.SZ) terminates the construction of the "second phase annual production of 24,000 tons of battery-grade lithium hydroxide project".

Tianqi Lithium Corporation (002466.SZ) announced that on January 23, 2025, the company held the 20th meeting of the sixth board of directors and approved the "Resolution on Termination of Investment in the Construction of the 'Second Phase Annual Production of 24,000 Tons of Battery-grade Lithium Hydroxide Project'". Since the company approved the investment in the construction of the second phase lithium hydroxide project, the company has been cautiously advancing the related construction work of the project, taking into account market conditions, financial situation, and other factors, and flexibly adjusting the project construction pace. Currently, considering the market conditions for the products, the operation of the first phase lithium hydroxide project, and the company's business development plan, after a comprehensive review of the initial investment in the second phase lithium hydroxide project, the expected future capital investment, future operation costs, project execution progress, expected future cash net flows, etc., the company believes that continuing the construction of the second phase lithium hydroxide project will not be economically feasible. To avoid further waste of resources, reduce potential economic losses, and safeguard the interests of the company and all shareholders, based on the principle of prudence, the company has decided to terminate the second phase lithium hydroxide project.