JSGT: Termination of the annual production project for 400,000 tons of lithium-ion battery electrolyte

Jiangsu Guotai announced that due to external objective conditions and changes in the industry environment, its subsidiary Ningde Guotai Huarong New Materials Co., Ltd. plans to terminate the investment and construction of a project for an annual production of 400,000 tons of lithium-ion battery electrolyte. The total investment for this project is 1.538 billion yuan, with a land area of approximately 180 acres and a planned construction period of 24 months. As of the announcement date, the project has already invested 32.8502 million yuan in land payments. Due to intense market competition and a continuous decline in electrolyte product prices, the industry's profit margins are under pressure. The company has decided to terminate this project to optimize resource allocation and improve capital utilization efficiency. This termination will not have a significant adverse impact on the company's normal production operations and current profits