锂电项目烂尾引“仲裁互撕”！索赔超两千万！

Core Viewpoint - The arbitration dispute between Shenzhen-listed company Huakong Saige and the government of Qitaihe City, Heilongjiang Province, stems from a lithium battery project that has stalled for four years, leading to mutual accusations of breach of contract and escalating claims for compensation [2][5][12]. Summary by Sections Project Background - In December 2019, the Qitaihe government designated a lithium battery anode material project as a key investment initiative and signed an investment contract with Huakong Saige's subsidiary, Heilongjiang Aoyuan New Materials [7]. - The government committed to providing 272,000 square meters of land and constructing the factory based on the company's design, while Huakong Saige promised to complete a production line with a capacity of 30,000 tons per year and received an advance of 50 million yuan [7]. Project Stagnation - The project quickly stalled after initiation, with Huakong Saige publicly acknowledging in 2021 that the construction had not started due to pandemic-related factors [9]. - By 2023, the project had a remaining book balance of only 5.206 million yuan, and by 2024, the company had made provisions for impairment, indicating that the project was unlikely to resume [10][11]. Escalation of Dispute - Over four years, the local government repeatedly urged progress, while the company accused the government of failing to fulfill its obligations, leading to a breakdown in relations and the initiation of arbitration proceedings in 2025 [12]. - Both parties filed for arbitration, with the government claiming that Huakong Saige had not invested the received funds and demanding the return of the 50 million yuan along with penalties for breach of contract [12]. Financial Implications - As of August 2025, the total amount claimed by the Qitaihe government had risen to approximately 23.962 million yuan, which represents about 17.6% of Huakong Saige's revenue of 136 million yuan in the first quarter of 2025 [14][15]. - If Huakong Saige loses the arbitration, it could face significant financial pressure, exacerbating its already challenging financial situation, as the company reported a net loss of 17.37 million yuan in the same quarter [18].