Core Viewpoint - The company has decided to postpone the implementation of its 10,000 tons/year lithium battery new-type lithium salt project, originally planned to raise 550 million yuan, due to the current adjustment period in the new energy industry and frequent technological updates in lithium batteries [1] Group 1 - The project has not commenced construction as of November 30, 2025, with zero funds raised [1] - The decision to delay the project is based on careful consideration of the macroeconomic and industry environment changes, as well as the company's operational situation [1] - The company emphasizes that this postponement will not significantly impact its current operations and is aimed at optimizing resource allocation and reducing investment risks in the long term [1] Group 2 - The company will monitor market trends and operational conditions to appropriately schedule the project in the future [1] - It will also keep a close watch on industry policies and market environment changes to ensure effective use of raised funds and sustainable development [1]

Core Viewpoint - Bettery, a global leader in new energy materials, demonstrated strong operational resilience and market competitiveness in its 2024 annual report, achieving a revenue of 14.237 billion yuan and a net profit of 930 million yuan despite facing significant industry challenges [2] Group 1: Financial Performance - In 2024, Bettery reported total assets of 33.347 billion yuan, a year-on-year increase of 13.49%, and net assets of 12.227 billion yuan, up 5.67% [2] - The company’s revenue from negative electrode materials reached 10.692 billion yuan, with sales volume exceeding 430,000 tons, maintaining a global market share of over 21% [3] Group 2: Industry Context - The global new energy materials industry is experiencing a dual scenario, with negative electrode material production exceeding 2 million tons (up 35%) while demand growth is only 20%, leading to an average industry operating rate below 60% and a 30% drop in prices [3] - New technologies such as solid-state batteries and sodium-ion batteries are accelerating commercialization, prompting major companies to increase patent acquisitions [3] Group 3: Innovation and R&D - Bettery emphasizes innovation as a core driver of development, with R&D investment reaching a historical high of 5.42% of revenue, totaling 692 authorized patents [4] - The company has developed a unique "research generation, reserve generation, production generation" model for silicon-based negative electrode materials, achieving an effective capacity of 5,000 tons per year [4] Group 4: Strategic Expansion - Bettery is actively expanding its global presence, with significant projects in Indonesia and Morocco aimed at enhancing its competitive edge in international markets [6] - The company has initiated the construction of an integrated project in Indonesia with an annual capacity of 80,000 tons for lithium battery negative electrode materials, marking a significant step in Southeast Asia [6]