Group 1: Company Performance - The company's third-quarter performance showed significant growth compared to last year, driven by an increase in both volume and price of products [1] - The new annual production capacity of 50,000 tons of lithium hydroxide has been successfully released this year, contributing to a substantial increase in lithium salt product capacity [1] - The company has diversified its lithium resource portfolio through acquisitions in Argentina, Mexico, Mali, and Qinghai, ensuring raw material supply for capacity expansion [1] Group 2: Production Capacity - The company currently has a production capacity of 43,000 tons/year for lithium carbonate and 81,000 tons/year for lithium hydroxide, holding a significant share in both national and global markets [1] - The company is expanding its lithium battery production scale and recycling capabilities, enhancing its position in the downstream industry [1] Group 3: Acquisition Updates - The ongoing acquisition of Bacanora is in progress, pending approval from the Mexican government [2] - The company holds a direct 50% stake in Sonora and an indirect 14.44% stake through Bacanora, totaling 64.44% control over Sonora [2] - Some existing major shareholders have expressed acceptance and support for the acquisition [2] Group 4: Market Conditions - The overall industry remains in a supply-demand imbalance, with tight product supply despite recent fluctuations in inventory due to holiday breaks and power restrictions [2] - The decrease in Chile's exports in the third quarter is primarily attributed to global shipping resource shortages [2] Group 5: ESG Initiatives - The company has proactively engaged in ESG initiatives to meet the high requirements set by overseas clients such as Tesla and BMW [2] Group 6: Supply Sources - The company sources the majority of its lithium spodumene from its own Mt Marion project in Australia, providing over 400,000 tons of lithium concentrate annually [2] - The company’s self-supplied lithium resources account for a significant portion of its supply, with additional contributions from Pilbara [2]

[Key Financial Data](index=2&type=section&id=Key%20Financial%20Data) [Key Accounting Data and Financial Indicators](index=2&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first three quarters of 2022, the company achieved explosive growth, with operating revenue increasing nearly threefold to **CNY 27.61 billion** and net profit attributable to shareholders surging nearly fivefold to **CNY 14.79 billion**, driven by increased sales volume and prices of lithium products Key Financial Indicators for Q1-Q3 2022 | Indicator | Year-to-Date (2022 Q1-Q3) (CNY) | YoY Change | Current Period (2022 Q3) (CNY) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 27,611,656,306.11 | 291.45% | 13,168,047,349.34 | 340.48% | | Net Profit Attributable to Shareholders of Listed Company | 14,794,841,018.06 | 498.31% | 7,541,321,783.38 | 614.05% | | Net Cash Flow from Operating Activities | 7,959,572,180.33 | 757.77% | — | — | | Basic Earnings Per Share (CNY/share) | 7.35 | 315.25% | 3.75 | 413.70% | | Weighted Average Return on Net Assets | 48.44% | 31.64% | 24.69% | 17.51% | | Total Assets (CNY) | 69,587,349,398.47 | 78.17% (vs. end of prior year) | — | — | | Owners' Equity Attributable to Shareholders of Listed Company (CNY) | 38,794,842,401.45 | 77.20% (vs. end of prior year) | — | — | [Non-Recurring Gains and Losses](index=2&type=section&id=Non-Recurring%20Gains%20and%20Losses) In the first three quarters of 2022, the company's non-recurring gains and losses totaled **CNY 912 million**, primarily from fair value changes of financial assets, with the third quarter contributing **CNY 1.69 billion** significantly to current profit Non-Recurring Gains and Losses for Q1-Q3 2022 | Item | Current Period Amount (CNY) | Year-to-Date Amount (CNY) | Explanation | | :--- | :--- | :--- | :--- | | Fair value changes from holding transactional financial assets and liabilities, etc | 1,683,202,556.51 | 877,536,114.14 | Primarily fair value changes from financial assets held in the current period | | Government Grants | 26,095,067.73 | 72,777,417.31 | | | **Total** | **1,691,333,079.08** | **912,363,286.33** | | [Analysis of Changes in Key Accounting Data and Financial Indicators](index=3&type=section&id=Analysis%20of%20Changes%20in%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Significant changes in the company's financial indicators reflect rapid business expansion, with asset growth driven by operational scale, strategic investments, and raw material prices, while strong profit and cash flow improvements stem from increased product sales and collections [Balance Sheet Item Changes](index=3&type=section&id=Balance%20Sheet%20Item%20Changes) As of the reporting period, total assets increased by **78.17%** year-to-date, driven by improved operating cash flow, expanded sales, strategic inventory, and M&A, while liabilities grew due to increased procurement and project financing Key Balance Sheet Item Changes (vs. End of 2021) | Item | Change Percentage | Reason Analysis | | :--- | :--- | :--- | | Monetary Funds | 104.44% | Increase in net cash flow from operating activities and funds prepared for PPG project closing | | Accounts Receivable | 156.21% | Significant increase in operating revenue led to a corresponding increase in accounts receivable | | Inventories | 159.59% | Increased production capacity, higher revolving inventory, and rising raw material prices | | Long-term Equity Investments | 105.83% | New investments in projects such as Mali, Africa, and Ximei Resources | | Construction in Progress | 36.33% | Increased investment in lithium salt and lithium battery project construction | | Accounts Payable | 261.36% | Increased production capacity, larger procurement scale, and rising material prices | | Long-term Borrowings | 111.96% | New long-term borrowings for project construction | [Income Statement Item Changes](index=4&type=section&id=Income%20Statement%20Item%20Changes) Q1-Q3 income statement metrics showed substantial growth, with revenue up **291.45%** due to product volume and price increases, R&D expenses surging **373.80%** for solid-state batteries, investment income soaring **150-fold** from joint ventures, and financial expenses turning significantly negative due to exchange gains Key Income Statement Item Changes (Q1-Q3 2022 vs Q1-Q3 2021) | Item | Change Percentage | Reason Analysis | | :--- | :--- | :--- | | Operating Revenue | 291.45% | Increased product sales volume and prices | | Research and Development Expenses | 373.80% | Increased R&D investment in areas such as solid-state batteries and materials, and recycling | | Investment Income | 15030.77% | Changes in profits from the company's joint ventures and associates | | Financial Expenses | -167.67% | Increase in exchange gains | | Non-operating Income | 5350.64% | Received compensation for the termination of the Zimbabwe Bikita project cooperation | | Income Tax Expense | 718.81% | Increase in total profit led to a corresponding increase in income tax expense | [Cash Flow Statement Item Changes](index=5&type=section&id=Cash%20Flow%20Statement%20Item%20Changes) Q1-Q3 operating cash flow surged **757.77%** to **CNY 7.96 billion** due to increased sales collections, while investing cash outflow expanded **97.50%** reflecting active expansion, and financing cash inflow decreased **43.79%** compared to the prior year's H-share placement Key Cash Flow Statement Item Changes (Q1-Q3 2022 vs Q1-Q3 2021) | Item | Change Percentage | Reason Analysis | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 757.77% | Increase in cash received from sales of goods and provision of services | | Net Cash Flow from Investing Activities | -97.50% | Increase in cash outflow from investing activities | | Net Cash Flow from Financing Activities | -43.79% | Prior period received H-share private placement funds, no such inflow in current period | [Shareholder Information](index=5&type=section&id=Shareholder%20Information) [Total Common Shareholders, Restored Voting Rights Preferred Shareholders, and Top Ten Shareholders](index=5&type=section&id=Total%20Common%20Shareholders%2C%20Restored%20Voting%20Rights%20Preferred%20Shareholders%2C%20and%20Top%20Ten%20Shareholders) As of the reporting period, the company had **311,248** common shareholders, with HKSCC NOMINEES LIMITED, Li Liangbin, and Wang Xiaoshen as the top three shareholders holding **20.01%**, **18.76%**, and **7.00%** respectively Top Ten Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | | HKSCC NOMINEES LIMITED | 20.01% | 403,555,556 | | Li Liangbin | 18.76% | 378,377,819 | | Wang Xiaoshen | 7.00% | 141,258,466 | | Hong Kong Securities Clearing Company Limited | 5.62% | 113,427,314 | | Huang Wen | 0.81% | 16,349,805 | [Other Significant Matters](index=7&type=section&id=Other%20Significant%20Matters) [Strategic Investments and Collaborations](index=7&type=section&id=Strategic%20Investments%20and%20Collaborations) During the reporting period, the company actively pursued a vertical integration strategy, strengthening its full industry chain from upstream lithium resources to downstream battery applications through significant investments and collaborations, including acquiring Lithea, partnering with GAC Aion and Fulin Precision, and co-building industrial ecosystems with local governments - Completed the acquisition of **100% equity** in Lithea, Argentina, for a total consideration not exceeding **USD 962 million**, to secure upstream lithium mineral resources[12](index=12&type=chunk) - Signed a strategic cooperation agreement with GAC Aion for in-depth collaboration in lithium resource development, lithium salt deep processing, and battery recycling[12](index=12&type=chunk) - Established a joint venture with Fulin Precision to co-invest in a new integrated project with an annual output of **200,000 tons** of lithium dihydrogen phosphate, with the company holding a **40% stake**[14](index=14&type=chunk) - Signed a strategic cooperation framework agreement with Yichun Municipal People's Government to jointly build a full industry chain system from lithium resources to battery applications[15](index=15&type=chunk) [Capacity Expansion Plans](index=7&type=section&id=Capacity%20Expansion%20Plans) To meet market demand and long-term orders, the company significantly increased the construction scale of its new lithium battery projects under Ganfeng Lithium Battery, raising the combined capacity of Jiangxi Xinyu and Chongqing Liangjiang New Area projects from **15GWh to 30GWh**, and adding new **6GWh** and **2 billion small polymer lithium battery** projects with substantial total investment, demonstrating its ambition in battery manufacturing - Increased the construction scale of the Jiangxi Xinyu project from an annual output of **5GWh to 10GWh**[13](index=13&type=chunk) - Increased the construction scale of the Chongqing Liangjiang New Area project from an annual output of **10GWh to 20GWh**[13](index=13&type=chunk)[14](index=14&type=chunk) - Approved Ganfeng Lithium Battery's investment of no more than **CNY 3.5 billion** to construct a new **6GWh** lithium battery production project[14](index=14&type=chunk) - Approved Ganfeng Lithium's subsidiary to invest no more than **CNY 2 billion** to construct a project with an annual output of **2 billion small polymer lithium batteries**[14](index=14&type=chunk) [Quarterly Financial Statements](index=9&type=section&id=Quarterly%20Financial%20Statements) [Consolidated Balance Sheet](index=9&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2022, the company's total assets reached **CNY 69.59 billion**, a **78.17%** increase year-to-date, with total liabilities at **CNY 25.70 billion** and owner's equity at **CNY 43.89 billion**, resulting in a **36.93%** asset-liability ratio, reflecting rapid asset and equity growth driven by strong profitability and business expansion Balance Sheet Overview (2022-09-30 vs 2022-01-01) | Item | September 30, 2022 (CNY) | January 1, 2022 (CNY) | | :--- | :--- | :--- | | Total Assets | 69,587,349,398.47 | 39,056,652,559.96 | | Total Liabilities | 25,697,576,592.22 | 12,889,954,121.27 | | Total Owners' Equity Attributable to Parent Company | 38,794,842,401.45 | 21,893,749,372.90 | | Total Owners' Equity | 43,889,772,806.25 | 26,166,698,438.69 | [Consolidated Income Statement (Year-to-Date)](index=11&type=section&id=Consolidated%20Income%20Statement%20(Year-to-Date)) In the first three quarters of 2022, the company achieved total operating revenue of **CNY 27.61 billion**, a **291.45%** increase year-on-year, with operating profit reaching **CNY 17.21 billion** (up **509.59%**) and net profit attributable to parent company shareholders at **CNY 14.79 billion** (up **498.31%**), primarily driven by core business and significant investment income Income Statement Overview (Q1-Q3 2022 vs Q1-Q3 2021) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | I. Total Operating Revenue | 27,611,656,306.11 | 7,053,758,123.88 | | III. Operating Profit | 17,208,602,176.06 | 2,823,055,243.54 | | IV. Total Profit | 17,233,630,346.68 | 2,815,942,163.65 | | V. Net Profit | 14,987,163,481.81 | 2,541,586,132.68 | | Net Profit Attributable to Parent Company Shareholders | 14,794,841,018.06 | 2,472,792,255.27 | [Consolidated Cash Flow Statement (Year-to-Date)](index=13&type=section&id=Consolidated%20Cash%20Flow%20Statement%20(Year-to-Date)) In the first three quarters of 2022, net cash flow from operating activities was **CNY 7.96 billion**, a **757.77%** year-on-year increase, indicating strong internal cash generation, while net cash outflow from investing activities was **CNY 5.30 billion** for projects and investments, and net cash inflow from financing activities was **CNY 3.94 billion**, with cash and cash equivalents increasing to **CNY 12.32 billion** by period-end Cash Flow Statement Overview (Q1-Q3 2022 vs Q1-Q3 2021) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 7,959,572,180.33 | 927,936,788.00 | | Net Cash Flow from Investing Activities | -5,299,495,936.70 | -2,683,294,134.64 | | Net Cash Flow from Financing Activities | 3,940,476,867.47 | 7,010,063,164.56 | | Net Increase in Cash and Cash Equivalents | 7,090,709,044.73 | 5,150,108,420.73 | | Ending Balance of Cash and Cash Equivalents | 12,324,320,050.94 | 6,859,698,365.03 |

Financial Performance - Total revenue for the third quarter reached RMB 13,168,047,349.34, representing a 340.48% increase compared to the same period last year[3] - Net profit attributable to shareholders was RMB 7,541,321,783.38, reflecting a significant increase of 614.05% year-on-year[3] - The net profit after deducting non-recurring gains and losses was RMB 5,849,988,704.30, an increase of 887.24% compared to the previous year[3] - The basic earnings per share (EPS) was RMB 3.75, up 413.70% from the same period last year[3] - The company's operating revenue for the period reached approximately $27.61 billion, a significant increase of 291.45% compared to $7.05 billion in the same period last year[11] - The company's net profit increased by 170.52% to approximately $22.79 billion, driven by higher overall profitability[10] - The total comprehensive income for the current period was ¥16,915,938,795.63, up from ¥2,648,868,588.84 in the previous period, representing a growth of approximately 538%[40] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 69,587,349,398.47, a 78.17% increase from the end of the previous year[3] - The equity attributable to shareholders reached RMB 38,794,842,401.45, which is a 77.20% increase compared to the end of last year[3] - The company's total liabilities increased significantly, with long-term borrowings rising by 111.96% to approximately $7.71 billion, primarily for project financing[10] - Total liabilities increased to CNY 25.70 billion from CNY 12.89 billion, representing a growth of about 99%[31] - Non-current assets totaled CNY 36.76 billion, compared to CNY 24.43 billion, showing an increase of approximately 50%[28] Cash Flow - Cash flow from operating activities was RMB 7,959,572,180.33, showing a substantial increase of 757.77%[3] - Net cash flow from operating activities surged by 757.77% to approximately $7.96 billion, driven by increased cash receipts from sales of goods and services[13] - The net cash flow from investing activities showed a negative change of 97.50%, amounting to approximately -$5.30 billion, due to increased cash outflows from investment activities[13] - Cash flow from operating activities amounted to ¥24,887,746,140.06, significantly higher than ¥7,095,598,511.09 in the previous period, marking an increase of approximately 350%[41] - Cash inflow from financing activities amounted to ¥7,750,071,948.76, a decrease of 21.4% from ¥9,862,423,743.23 in the previous period[45] Investments and Expenses - Research and development expenses increased by 373.80% to approximately $952.43 million, reflecting higher investments in solid-state batteries and recycling technologies[11] - Long-term equity investments rose by 105.83% to approximately $8.41 billion, mainly due to new investments in Mali and increased earnings from joint ventures[8] - The company reported a net investment income of CNY 2.85 billion, significantly higher than CNY 18.85 million in the previous period[36] - The company signed a strategic cooperation agreement with GAC Aion in August 2022 to explore collaboration in lithium resource development and battery recycling[20] Inventory and Receivables - The company reported a significant increase in accounts receivable, which rose by 156.21% to RMB 6,401,715,952.87 due to a substantial increase in operating revenue[7] - As of September 30, 2022, the company's inventory increased by 159.59% to approximately $8.52 billion, primarily due to capacity expansion and rising raw material prices[8] - Accounts receivable increased to RMB 6.40 billion from RMB 2.50 billion, indicating strong sales growth[26] Shareholder Information - The top ten shareholders include HKSCC Nominees Limited holding 20.01% and Li Liangbin holding 18.76% of the shares[15] Strategic Initiatives - The company aims to build a complete industrial chain from lithium resource development to battery applications in collaboration with the Yichun municipal government[24] - The company is actively pursuing strategic partnerships to enhance its competitive position in the lithium battery market[22] - The board approved increasing the production capacity of new lithium battery projects to 15GWh and 20GWh for different facilities, with investments not exceeding RMB 3.5 billion and RMB 2 billion respectively[21]

Financial Performance - Ganfeng Lithium reported a revenue of RMB 3.5 billion for the first half of 2022, representing a year-on-year increase of 45%[1]. - The company's net profit for the same period reached RMB 1.2 billion, up 60% compared to the previous year[1]. - Revenue for the six months ended June 30, 2022, increased by 255.80% to RMB 14,320,893 thousand[10]. - Gross profit for the same period surged by 516.08% to RMB 8,657,854 thousand[10]. - Profit attributable to owners of the parent rose by 412.65% to RMB 7,254,835 thousand[10]. - Earnings per share for the interim period reached RMB 3.60, an increase of 386.49%[10]. - The company expects a revenue growth forecast of 25% for the second half of 2022, driven by increased sales and market expansion efforts[1]. - Total revenue growth was primarily driven by increased unit selling prices and sales volume of products during the reporting period[72]. - The gross profit margin for the reporting period was 60.46%, up 25.55% from 34.91% for the six months ended June 30, 2021, primarily due to rising sales prices and volumes[80]. Market Demand and Trends - User data indicates a 30% increase in lithium battery sales, driven by growing demand in the electric vehicle sector[1]. - The demand for lithium is expected to further stimulate due to the rapid development of new energy vehicles and energy storage systems[26]. - Global sales of new energy passenger vehicles in the first half of 2022 reached approximately 4.087 million, a year-on-year increase of 65%[27]. - The target of "sales volume of new energy vehicles being 20% of total sales of new vehicles by 2025" is expected to be achieved earlier than planned[27]. - The sales of electric vehicles in China in 2022 are expected to be 6.05 million, while global sales are projected to reach 10.25 million[28]. Production and Capacity Expansion - Ganfeng Lithium plans to expand its production capacity by 20% in the next year to meet rising market demand[1]. - The company is investing RMB 500 million in R&D for new lithium extraction technologies aimed at improving efficiency by 15%[1]. - The Mt Marion spodumene project is set to expand its lithium concentrate capacity to 900,000 tons per annum by the end of 2022 due to tight supply[38]. - The company aims to achieve an annual lithium product supply capacity of no less than 600,000 tons of LCE by 2030, including lithium extraction from ore, brine, clay, and recycling[62]. Strategic Partnerships and Acquisitions - Ganfeng Lithium has entered into a strategic partnership with Bacanora Lithium to enhance its resource base and market presence[1]. - The Group acquired a 62% equity interest in the Songshugang tantalum-niobium mine project and completed the delivery of a 50% equity interest in the Goulamina spodumene project in Mali[38]. - The Group is exploring potential acquisitions in the lithium supply chain to strengthen its market position and ensure resource security[1]. - The Group plans to continue exploring further acquisition opportunities for lithium resources to enhance its core portfolio and support midstream and downstream operations[59]. Research and Development - The company is focusing on expanding its product categories and enhancing R&D capabilities to drive future growth[12]. - Continued investment in new technologies and product development is expected to enhance competitive advantage in the lithium industry[12]. - The Group is actively engaged in R&D for the recycling and innovative application of retired power batteries in energy storage and low-speed electric vehicles[32]. - The company is developing high-safety, high-specific energy solid-liquid hybrid lithium batteries for long-duration electric vehicles, collaborating with upstream and downstream partners[63]. Sustainability and Environmental Goals - Ganfeng Lithium aims to achieve carbon neutrality in its operations by 2030, aligning with global sustainability trends[1]. - The Group's mature battery recycling business aligns with low-carbon and environmentally friendly requirements, supporting the direction of carbon neutrality and emission reduction[51][52]. - The company is committed to improving lithium extraction methods and high purity lithium processing techniques to maintain its technological edge in the global lithium industry[70]. Financial Position and Investments - Total assets amounted to RMB 54,774,000 thousand, up 40.24% from the end of last year[36]. - Current assets increased by RMB 9,190,896 thousand to RMB 23,817,635 thousand, driven by higher cash and cash equivalents, inventories, and trade receivables[98]. - The Group's gearing ratio as of 30 June 2022 was 36%, an increase of 3% from 31 December 2021, primarily due to significant increases in trade payables and interest-bearing borrowings[15]. - The company raised a total of RMB 2,108 million from the issuance of 21,080,000 convertible bonds, with a net amount of RMB 2,093 million after costs[146]. Corporate Governance - The company aims to enhance transparency and safeguard shareholder interests through improved corporate governance practices[124]. - The Board consists of four executive Directors, two non-executive Directors, and four independent non-executive Directors, ensuring a balance of power[125]. - The company has complied with the Corporate Governance Code, except for a deviation from code provision C.2.1 during the six months ended June 30, 2022[124]. Employee and Shareholder Information - The Group had a total of 8,835 employees as of 30 June 2022, with a remuneration package that includes salaries, allowances, benefits, and performance-related bonuses[18]. - As of June 30, 2022, the total number of shareholders was 202,719, including 202,684 holders of A shares and 35 holders of H shares[153]. - Li Liangbin holds 270,269,871 A Shares, representing 18.77% of the total share capital of the company and 23.47% of the A Shares[133].

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 5.2 billion for the first half of 2022, representing a year-on-year growth of 45%[1] - The net profit attributable to shareholders reached RMB 1.2 billion, marking a 30% increase compared to the same period last year[1] - The company's operating revenue for the first half of 2022 was CNY 14.44 billion, representing a 255.38% increase compared to CNY 4.06 billion in the same period last year[22] - Net profit attributable to shareholders reached CNY 7.25 billion, a significant increase of 412.02% from CNY 1.42 billion year-on-year[22] - The net profit after deducting non-recurring gains and losses was CNY 8.03 billion, up 861.60% from CNY 835 million in the previous year[22] - The company’s cash flow from operating activities reached CNY 2.10 billion, a 232.59% increase from CNY 630 million in the same period last year[22] - The company reported a total revenue of 2,073 million RMB for the first half of 2022, representing a 35.74% increase compared to the previous period[171] - Ganfeng Lithium reported a revenue of 170,000 million in the first half of 2022, a significant increase compared to 88,860 million in the same period of 2021, representing a growth of approximately 91.5%[187] - The company achieved a net profit of 38,477.8 million in the first half of 2022, compared to 29,500 million in the same period of 2021, indicating a year-over-year increase of about 30.0%[187] Market Expansion and Product Development - User data indicates a 25% increase in the number of active customers, reaching 1.5 million by the end of June 2022[1] - The company plans to expand its production capacity by 50% in the next 12 months to meet growing demand for lithium products[1] - New product development includes the launch of a high-performance lithium battery, expected to increase market share by 10% in the next year[1] - The company is actively pursuing market expansion and new product development in the lithium industry[170] - Ganfeng Lithium's market expansion strategy includes increasing its presence in international markets, particularly in Europe and North America[187] - The company is focusing on developing high-capacity lithium-ion batteries to meet increasing market demand[106] Strategic Acquisitions and Partnerships - The company has initiated strategic acquisitions, targeting two lithium mining companies to enhance resource control and supply chain stability[1] - The company has formed strategic partnerships with leading global battery suppliers and automotive OEMs, enhancing its market position and stability[33] - The company has signed long-term supply contracts with core customers such as LG Chem, Tesla, and BMW, ensuring a stable customer base[36] - The company has acquired a 62% stake in the Shangrao Songshugang tantalum-niobium mine project and completed the equity transfer for the Goulamina lithium spodumene project in Mali, gaining a 50% stake[74] - The company plans to invest up to CNY 1.17 billion to establish a joint venture for acquiring 100% equity of Zhongcheng Deki, with a total acquisition price not exceeding CNY 1.8 billion[192] Research and Development - The company has allocated RMB 300 million for research and development in new technologies related to lithium extraction and battery efficiency[1] - The company is actively advancing the research, production, and commercialization of solid-state lithium batteries[32] - The company has significantly increased its R&D investment, focusing on technological projects and the industrialization of research outcomes, and is currently developing solid-state lithium battery technology to address safety and range issues of first-generation lithium batteries[48] - Research and development expenses surged by 269.56% to ¥532,827,391.86, driven by increased investments in solid-state batteries and recycling technologies[88] - The company is committed to improving its R&D capabilities by collaborating with domestic and international research institutions to develop new products and technologies[86] Financial Strategy and Investments - No cash dividends will be distributed for this period, as the company aims to reinvest profits into growth initiatives[1] - The total investment cash outflow was ¥4,285,073,475.50, a 205.22% increase from ¥1,403,936,644.08, indicating higher investment activities[90] - The company has provided guarantees totaling CNY 400 million to its subsidiaries, with a guarantee period of 3 years, which is still active[186] - The total approved guarantee amount for subsidiaries is CNY 1,070 million, with an actual guarantee amount of CNY 158.28 million during the reporting period[188] Environmental and Safety Compliance - The company emphasizes safety and environmental protection as fundamental to its development, implementing a comprehensive safety responsibility system and enhancing safety management practices[129] - The company has implemented various environmental measures to ensure compliance with pollution discharge standards[147] - The company has established a foreign exchange hedging management system to mitigate risks associated with currency fluctuations, which may impact profit margins and asset values[131] - The company has conducted emergency response drills for various environmental incidents to ensure the effectiveness of its emergency plans[152] - The company has publicly disclosed its environmental information as required, maintaining transparency with stakeholders[156] Future Outlook - Future outlook remains positive, with projected revenue growth of 40% for the full year 2022, driven by increased demand in the electric vehicle sector[1] - The company’s future outlook remains positive, with expectations of continued revenue growth driven by increasing global demand for lithium[187] - The company plans to achieve a total lithium product supply capacity of no less than 600,000 tons of LCE by 2030, including various extraction methods such as ore, brine, clay, and recycling[84]