On December 10, Kaisheng New Materials announced that the company has decided to temporarily suspend the implementation of the public issuance of convertible corporate bonds project 10,000 Tonnes/Year Lithium Salt Project for Lithium Batteries. The planned investment amount for this project is Yuan 550 million.
The reason for the suspension is the current adjustment period in the new energy industry, where lithium battery technologies are undergoing frequent updates and iterations, and market conditions are highly volatile. The decision aims to avoid resource wastage, reduce the company's production and operational costs, and improve the efficiency of the use of raised funds. This decision has been reviewed and approved by the company's board of directors and the special meeting of independent directors.
Edited by Cassie Li, lixiangying@mysteel.com
