On June 26, Sichuan Development Lomon Co., Ltd. (SDLemon) announced that its wholly-owned subsidiary, Deyang Sichuan Development Lomon, had previously planned to establish another wholly-owned subsidiary in the Xinshi Chemical Industrial Park, Mianzhu City, Sichuan Province, for the purpose of investing in and constructing a project with an annual production capacity of 100,000 tonnes of lithium iron phosphate (LFP).
In view of changes in the market environment, and in order to optimize resource allocation, the board of directors, after comprehensive consideration of the actual conditions for project implementation and prudent deliberation, approved the termination of the establishment of the wholly-owned subsidiary by Deyang Sichuan Development Lomon.
As of the disclosure date of this announcement, the above investment has not been substantially initiated or implemented. The termination of this investment will not have any adverse impact on the Company, nor will it cause any damage to the interests of the Company and all its shareholders.
Edited by Cassie Li, lixiangying@mysteel.com
