13亿锂电项目延期三年半！

Core Viewpoint - The company Minguan New Materials Co., Ltd. has announced a second delay in the construction project of its aluminum-plastic film production, pushing the expected operational date from December 31, 2025, to December 31, 2027, resulting in a total delay of three and a half years from the original plan [1][2]. Group 1 - The project has seen no capital investment since the fundraising was completed in 2022, maintaining a 0% investment progress [2]. - The delay is attributed to cautious considerations of the industry environment and the company's capacity planning, with the global demand for aluminum-plastic film in lithium batteries expected to exceed 300 million square meters by 2025, but market growth and import substitution not meeting expectations [3]. - The company has upgraded its existing production line from an annual capacity of 10 million square meters to 30 million square meters, with total capacity expected to exceed 35 million square meters by January 2026, which will adequately meet customer order demands for 2025-2026 [3]. Group 2 - To avoid overcapacity and asset idleness, the company plans to adopt a "phased construction" approach during the delay period, advancing partial capacity construction based on market order conditions to enhance the efficiency of capital utilization [3].