Tianci Materials experiences a second delay for its “41,000-ton annual production capacity project for lithium-ion battery materials (Phase 1)”
Thread Content
On December 10, Tianci Materials (002709) issued a announcement stating that it would postpone for the second time the completion of the \"41,000 tons per year lithium-ion battery materials project (Phase I)\", which is part of the funds raised through convertible bonds in 2022. The original deadline for completing this project was December 31, 2025; it has now been extended to July 31, 2026. The amount of funds involved in this project is 834 million yuan. As of November 30, 2025, 82.2347 million yuan in raised funds has been invested in this project, accounting for 9.86% of the total funds planned to be invested. Following this extension, the construction period has been extended to 45 months, an increase of 7 months compared to the original plan. According to the announcement, the project has completed process innovation and upgrades as well as the relevant approval procedures, and is currently in the stage of workshop construction and installation of some equipment. The announcement states that the delay is mainly due to the equipment procurement and delivery timeline exceeding expectations. To advance the project implementation, a dedicated task force has been established, along with a monthly progress reporting mechanism, to focus on coordinating with equipment suppliers to shorten delivery times.
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