历时两年多 芳源股份终止总投资不超30亿项目

Core Viewpoint - Fangyuan Co., Ltd. has decided to terminate its investment of up to 3 billion yuan in the "battery-grade lithium carbonate production and comprehensive utilization of waste lithium iron phosphate batteries project" due to changes in market conditions and company strategy [1][2]. Group 1: Project Termination - The project was originally planned in two phases, with the first phase including an annual production of 30,000 tons of battery-grade lithium carbonate and 46,000 tons of lithium iron phosphate precursor [1]. - The company had previously invested 97 million yuan in the project and has begun the process of land return and cancellation of its subsidiary Fangyuan Lithium Industry [2]. Group 2: Business Strategy - The current focus of the company is on ternary cathode materials and battery-grade lithium carbonate, aiming to enhance existing capacity utilization and improve operational and profitability conditions [1][2]. - The company has transformed part of its precursor capacity into lithium carbonate capacity, achieving an annual production capacity of 24,000 tons of lithium carbonate by the end of 2024 [2]. Group 3: Financial Performance - For the year 2024, the company reported revenue of 2.161 billion yuan, an increase of 2.81% year-on-year, but incurred a net loss of approximately 427 million yuan, although the loss margin has narrowed compared to the previous year [3]. - The company has reduced external investment activities, including the termination of a proposed ternary precursor project in Guangxi [3]. Group 4: Future Plans - To support the ongoing development of lithium carbonate business, the company is actively moving upstream in the lithium carbonate supply chain [3]. - A new joint venture, Guangdong Qingyuan Fangyuan Lithium Industry Technology Co., Ltd., has been established to process lithium ore and extend the lithium carbonate supply chain, with expected completion and production by the end of 2025 [3].