Ronghui Lithium Industry's GEM IPO "terminated (withdrawn)", with main products being battery-grade lithium carbonate and battery-grade lithium hydroxide.

On September 19th, Jiangsu Ronghui Lithium Industry Co., Ltd. (referred to as Ronghui Lithium Industry) had its IPO review status on the ChiNext Board of the Shenzhen Stock Exchange changed to "terminated (withdrawn)". Due to Ronghui Lithium Industry and the sponsor withdrawing their application for listing, in accordance with the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (Revised in 2024)" Article 62, the Shenzhen Stock Exchange decided to terminate its listing review. According to the prospectus, the company mainly engages in the research and development, production, and sales of deep-processed lithium products, with its main products being battery-grade lithium carbonate and battery-grade lithium hydroxide. These are essential key materials for lithium-ion battery cathode materials such as ternary materials, lithium iron phosphate, and lithium cobalt oxide, and are ultimately used in lithium-ion battery products such as power batteries, energy storage batteries, and consumer batteries. In terms of financials, in the fiscal years 2020, 2021, and 2022, Ronghui Lithium Industry achieved operating revenues of approximately 506 million, 1.542 billion, and 5.91 billion Chinese Yuan, respectively. During the same period, the company achieved net profits of -48.68 million, 405 million, and 1.991 billion Chinese Yuan, respectively. In the prospectus, Ronghui Lithium Industry mentioned the risk of having a relatively concentrated supplier base. During the reporting period, the company's top five suppliers accounted for 56.57%, 67.97%, and 92.72% of the company's total procurement amount, indicating a relatively concentrated supplier base. This concentration is related to the high concentration in the upstream raw material lithium concentrate industry and the high procurement prices of lithium concentrate. The majority of the company's lithium concentrate is purchased from the Pilgangoora region in Australia and AMG in Brazil. Compared to industry-listed companies like Ganfeng Lithium Group and Tianqi Lithium Corporation, the company has not yet secured lithium resources. If the company's main raw material suppliers reduce their cooperation with the company due to their own reasons or market changes, or if the main suppliers fail to supply goods according to plan and in a timely manner, it will have an adverse impact on the company's operational performance and sustainability.