Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 8.376 billion, with a net profit attributable to shareholders of CNY -0.531 billion, and an operating cash flow of CNY 0.3 billion [1] - The business structure consists of 56.78% from lithium chemical segment, 35.52% from lithium battery segment, and 7.70% from other businesses [1] Business Development - The Mariana lithium salt lake project in Argentina has produced its first batch of lithium chloride [2] - The Cauchari-Olaroz lithium salt lake project is operating smoothly and is expected to meet its annual production target in the second half of the year [2] - The Goulamina lithium spodumene project in Mali has shipped its first batch of spodumene to China [2] - The Sichuan Ganfeng's annual production capacity of 50,000 tons of lithium salt project has completed production line debugging and is steadily releasing capacity [2] - The first phase of the Qinghai Ganfeng's annual production of 1,000 tons of metallic lithium project is in trial production [2] Solid-State Battery Business - The company has completed an integrated layout for solid-state battery business and has commercial capabilities [2] - The soft-pack solid-state battery can be applied in passenger vehicles and low-altitude aircraft, with an energy density covering 320Wh/kg to 550Wh/kg and a maximum cycle count of 1,000 [2] - The cylindrical solid-state battery has a capacity of 6Ah to 7.5Ah and an energy density of 330Wh/kg to 420Wh/kg, with production lines under construction [2] Energy Storage Business - The company has successfully completed the delivery and grid connection of energy storage shared power stations through Shenzhen Yichu [2] - The integrated layout of lithium batteries has shown significant results, positively contributing to the group's performance [2] Market Outlook and Strategy - The company remains optimistic about the future demand for lithium and expects further improvement in operational performance as the lithium industry recovers [2] - The company is focusing on cost-effective resource development and prioritizing projects with optimal economic benefits [5] - The overall lithium product inventory is currently at a low level, approximately one week, indicating a positive market trend [5] Debt Management - The company is planning multiple measures to optimize its capital structure, including controlling debt increases and enhancing project equity financing [6] - The debt level is currently manageable, despite an increase due to the higher leverage in the battery segment, which accounts for 35%-40% of sales revenue [6]

江西贛鋒鋰業集團股份有限公司 董事會審計委員會工作細則 第一章 總 則 公 司 現 任 外 部 審 計 機 構 的 前 任 合 夥 人 自 以 下 日 期（以 日 期 較 後 者 為 準）起 兩 年 內，不 得 擔 任 審 計 委 員 會 委 員： 第三章 職責權限 – 2 – （一）該前任合夥人終止成為該會計事務所的合夥人的 日 期；或 （二）該前任合夥人不再享有該會計事務所財務利益的 日 期。 第五條 審 計 委 員 會 設 主 任 委 員（即 召 集 人）一 名，由 獨 立 非 執 行 董 事 委 員 擔 任，應 當 為 會 計 專 業 人 士，負 責 主 持 委 員 會 工 作；主 任 委 員 由 全 體 委 員 的 二 分 之 一 以 上 選 舉 產 生。 第六條 審 計 委 員 會 任 期 與 董 事 會 一 致，委 員 任 期 屆 滿，連 選 可 以 連 任。期 間 如 有 委 員 不 再 擔 任 公 司 董 事 職 務，自 動 失 去 委 員 資 格，並 由 委 員 會 根 據 本 工 作 細 則 第 三 至 第 五 條 的 規 定 補 足 委 員 人 數。 第七條 審 計 委 員 會 下 設 ...

– 1 – 第一條 為 優 化 董 事 會 組 成，規 範 公 司 領 導 人 員 的 產 生，建 立 健 全 公 司 董 事（包 括 獨 立 非 執 行 董 事）及 高 級 管 理 人 員 的 考 核 和 薪 酬 管 理 制 度，完 善 公 司 治 理 結 構，根 據《中 華 人 民 共 和 國 公 司 法》、《上 市 公 司 治 理 準 則》、《深 圳 證 券 交 易 所 股 票 上 市 規 則》、《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》（以 下 簡 稱「《香 港 上 市 規 則》」）、《江 西 贛 鋒 鋰 業 集 團 股 份 有 限 公 司 章 程》（以 下 簡 稱「《公 司 章 程》」） 及其他有關規定，公司特設立董事會薪酬與考核委員會， 並 制 定 本 工 作 細 則。 第二條 薪 酬 與 考 核 委 員 會 是 董 事 會 下 設 的 專 門 工 作 機 構，主 要負責制定公司董事及高級管理人員的考核標準並進 行考核制定、審查董事、高級管理人員的薪酬決定機制、 決 策 流 程、支 付 與 止 付 追 索 安 排 等 薪 酬 政 策 與 方 案，對 董 事 會 負 責。 ...

江西贛鋒鋰業集團股份有限公司 提 名 委 員 會 主 任 委 員 負 責 召 集 和 主 持 提 名 委 員 會 會 議， 當 提 名 委 員 會 主 任 委 員 不 能 或 無 法 履 行 職 責 時，由 其 指 定 一 名 其 他 獨 立 非 執 行 董 事 委 員 代 行 其 職 責。 第七條 提 名 委 員 會 的 任 期 與 同 屆 董 事 會 的 任 期 相 同。提 名 委 員會因委員辭職或免職或其他原因而導致人數低於規 定 人 數 的 三 分 之 二 時，公 司 董 事 會 應 盡 快 選 舉 產 生 新 的 委 員。 董事會提名委員會工作細則 第一章 總 則 第二章 人員組成 – 1 – 第一條 為完善江西贛鋒鋰業集團股份有限公司（以下簡稱「公司」） 的 法 人 治 理 結 構，增 強 董 事 會 選 舉 程 序 的 科 學 性、民 主 性，優 化 董 事 會 的 組 成 人 員 結 構，公 司 特 設 立 董 事 會 提 名 委 員 會。 第二條 為 使 提 名 委 員 會 規 範、高 效 地 開 展 工 作，公 司 董 事 會 根 據《中 華 人 民 共 和 國 公 司 法》、《上 市 公 ...

中报显示，赣锋锂业系锂生态企业，拥有五大类逾40种锂化合物及金属锂产品的生产能力，公司已经形 成垂直整合的业务模式，业务贯穿上游锂资源开发、中游锂盐深加工及金属锂冶炼、下游锂电池制造及 退役锂电池综合回收利用。2025年上半年，公司实现营业收入约83.76亿元，同比下降12.65%；对应实 现归属净利润约-5.31亿元，同比减亏；对应实现扣非后归属净利润约-9.13亿元，同比增亏。 北京商报讯（记者 马换换 实习记者 李佳雪）8月23日，赣锋锂业（002460）发布2025年半年度报告显 示，公司上半年实现归属净利润约-5.31亿元，同比减亏。 交易行情显示，8月22日，赣锋锂业收涨0.34%，收于38.3元/股，总市值772.6亿元。 ...

Core Viewpoint - Ganfeng Lithium's recent financial report indicates a decline in total revenue and a negative net profit, despite improvements in profitability metrics such as gross margin and net margin [1][4]. Financial Performance - Total revenue for the first half of 2025 was 8.376 billion yuan, a decrease of 12.65% year-on-year [1]. - The net profit attributable to shareholders was -531 million yuan, an increase of 30.13% year-on-year [1]. - In Q2 2025, total revenue was 4.604 billion yuan, up 1.62% year-on-year, while the net profit attributable to shareholders was -175 million yuan, up 45.44% year-on-year [1]. - Gross margin improved to 11.14%, an increase of 3.12% year-on-year, while net margin improved to -9.33%, an increase of 16.09% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 1.381 billion yuan, accounting for 16.49% of revenue, an increase of 28.74% year-on-year [1]. Cash Flow and Debt - Cash flow from operating activities decreased by 92.38%, attributed to reduced cash received from sales [3]. - The company’s interest-bearing debt increased by 43.33% to 43 billion yuan [1]. - The net increase in cash and cash equivalents was up 494.3%, driven by various funding activities [3]. Business Operations - The company achieved record production levels for lithium chemical products and lithium battery products despite challenging market conditions [7]. - Ganfeng Lithium's Mali project has begun stable production, and the Cauchari-Olaroz project in Argentina is progressing well, expected to produce 25,400 tons of LCE in 2024 [7]. - The company is focusing on technological innovations to enhance resource utilization and product value in its lithium chemical segment [8]. Sustainability and ESG - Ganfeng Lithium is committed to sustainable development, improving production and supply chain electrification, and reducing emissions through technological innovations [9]. - The company has received multiple ESG-related awards and maintains a positive MSCI rating, reflecting its commitment to sustainability [9]. Market Position and Future Outlook - Analysts expect Ganfeng Lithium's performance in 2025 to improve, with projected earnings of 845 million yuan and an average earnings per share of 0.42 yuan [5]. - The company aims to leverage its technological innovations and sustainable practices to contribute to global energy transition efforts [10].

Core Viewpoint - The global lithium salt industry is undergoing significant adjustments in the first half of 2025, with a decline in lithium product prices due to changes in supply and demand dynamics, yet Ganfeng Lithium has managed to substantially reduce its losses during this period [1] Group 1: Financial Performance - Ganfeng Lithium reported a revenue of 8.376 billion yuan in the first half of 2025, with a net loss attributable to shareholders of 531 million yuan, a significant reduction from a loss of 760 million yuan in the same period last year [1] - The gross margin for lithium compounds remained positive at 8.36%, despite the overall downward trend in lithium compound prices, which fell from $850-$900 per ton at the beginning of the year to $620-$640 per ton by June, representing a decline of 25% to 31% [2][3] Group 2: Market Dynamics - The lithium compound prices have been affected by supply-demand mismatches, with increased production of lithium salts and declining prices of Australian lithium ore contributing to the downward price trend [2] - Ganfeng Lithium's vertical integration across the lithium value chain—from upstream resource development to downstream battery manufacturing—has enhanced operational efficiency and profitability [2] Group 3: Resource Management - The company has established a stable and diversified raw material supply system by securing high-quality lithium resources globally, including spodumene, lithium brine, and lithium mica [3] - Ganfeng Lithium's self-sufficiency in lithium resources is expected to exceed 50% in 2025, which is above the industry average, thereby improving cost control and profitability [3] Group 4: Battery Business Growth - The lithium battery segment of Ganfeng Lithium achieved a revenue of 2.975 billion yuan in the first half of 2025, marking a year-on-year growth of 9.89%, and accounting for 35.52% of total revenue [4] - The company has successfully scaled up the production of its 587Ah large-capacity energy storage cell, which has become a benchmark product in the large-scale energy storage sector due to its long cycle life and high energy density [4] Group 5: Technological Advancements - Ganfeng Lithium has made significant progress in solid-state battery technology, completing the development of a 304Ah square solid-state energy storage battery that outperforms traditional liquid batteries in key safety and performance metrics [5] - The company is also collaborating with well-known drone and eVTOL companies to develop high-energy batteries, with products already passing regulatory compliance checks [6]

Core Viewpoint - Ganfeng Lithium plans to integrate its lithium salt lake resources in Argentina, which is expected to positively impact the company's financial status and operational results [1][2] Group 1: Resource Integration - Ganfeng International and Lithium Argentina AG will consolidate the PPG, PG, and Puna lithium salt lake projects under Millennial Lithium Corp, with Ganfeng International holding 67% and LAR holding 33% [1][2] - The integration aims to create a unified development system for high-quality assets, enhancing resource utilization and capital efficiency, thereby strengthening the company's competitive edge [2][3] Group 2: Project Details - The PPG project includes Pozuelos Salar and Pastos Grandes, covering 10,787 hectares and 2,683 hectares respectively; the Puna project spans 10,952 hectares and is currently in the technical due diligence phase; the PG project has a total area of approximately 24,000 hectares [3] - Millennial, previously a wholly-owned subsidiary of LAR, will become the holding entity for the PPG, Puna, and PG projects after the integration [3] Group 3: Financial Support - Ganfeng Lithium plans to provide up to $130 million in financial support to LAR over six years to aid in the construction of the lithium product production line, with a planned annual output of 150,000 tons of LCE [5][6] - The financial support will be secured by LAR's equity in Millennial, and while it may lead to cash outflows, it is expected to be manageable within the company's operational framework [6] Group 4: Market Context and Strategy - The global lithium salt lake resources are primarily concentrated in South America, which presents both opportunities and challenges due to environmental regulations and development complexities [7] - Ganfeng Lithium is focused on cost reduction and efficiency improvement through digitalization and smart tools, while also maintaining a robust financial strategy to manage cash flow pressures [7]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1772） 截 至2025年6月30日止六個月之中期業績公告 及 建議修訂公司章程 江 西 贛 鋒 鋰 業 集 團 股 份 有 限 公 司（「本公司」或「公 司」）董 事（「董 事」）會（「董 事 會」）謹 此 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至2025年6月30日 止 六 個 月（「報告期」）之 簡 明 綜 合 未 經 審 計 中 期 業 績。 – 1 – 財務資料 中 期簡明綜合損益表 截 至2025年6月30日止六個月 | | 附 註 | 2025年 | 2024年 | | --- | --- | --- | --- | | | | （未 經 審 計） | （未 經 審 計） | | | | 人民幣千元 | 人民幣千元 | | 收 益 | 4 ...

Core Viewpoint - Ganfeng Lithium (002460.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in the lithium industry [1] Financial Performance - The company achieved operating revenue of 8.376 billion yuan, a year-on-year decrease of 12.65% [1] - The net profit attributable to shareholders of the listed company was -531 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -913 million yuan [1] - Basic earnings per share were -0.27 yuan [1]