Asia Pacific Equity Research 10 September 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. China Lithium Dashboard A flash in the pan Asia Basic Materials Avery Chan AC (852) 2800-8659 avery.chan@jpmorgan.com J.P. Morgan Securities (Asia Pacific) Limited ...