On December 10, Tinci Materials issued an announcement announcing the second postponement of the 41,000-tonne-per-year lithium-ion battery material project (Phase I) under its 2022 convertible bond fundraising initiative. The project completion date has been extended from the original plan of December 31, 2025, to July 31, 2026, involving raised funds of Yuan 834 million.
As of November 30, 2025, the project has utilized raised funds totaling Yuan 82.2347 million, accounting for 9.86% of the planned investment. Following this postponement, the construction period has been extended to 45 months, representing a cumulative delay of 7 months compared to the original schedule.
According to the announcement, the project has completed process innovation and upgrades as well as relevant approval procedures, and is currently in the stage of workshop construction and partial equipment installation. The announcement indicates that the delay is primarily due to equipment procurement and delivery cycles exceeding expectations. To advance the project, a dedicated task force has been established, implementing a monthly progress reporting mechanism focused on coordinating with equipment suppliers to shorten delivery timelines.
Edited by Cassie Li, lixiangying@mysteel.com
