Tianci Materials (002709.SZ): Terminating the Nantong Tianci project of producing 243,000 tons of lithium batteries and fluorine-containing new materials annually.

Financial APP news, Tianci Materials (002709.SZ) announced that starting from the second half of 2023, top manufacturers and new entrants in the electrolyte industry will concentrate on expanding production. However, the mismatch between supply and demand caused by lower-than-expected downstream demand has intensified industry competition, leading to a continuous decline in electrolyte market prices and squeezed profits in the sector. Considering that electrolyte capacity has not been fully absorbed and the market environment for the fluorine chemical industry has changed, the company has decided to postpone the construction of the project after completing the construction of the factory walls and roads in 2024. The company's project team recently conducted a comprehensive analysis from multiple perspectives, and after careful consideration by the project team and management, the company plans to terminate the investment and construction of the Nantong Tianci lithium battery and fluorinated new materials project with an annual output of 243,000 tons.