Hainan Mining achieves lithium hydroxide project milestone

Hainan Mining Co., Ltd. (SSE:601969) announced the full process completion and successful production of qualified battery-grade lithium hydroxide from its 20,000-ton project located in Yangpu New Material Park, Danzhou City, Hainan Province. The project, operated by subsidiary Hainan Xingzhihai New Material Co., Ltd., represents a significant milestone in the company's strategic shift towards new energy materials, integrating upstream lithium mining and lithium salt processing. The project was approved in 2021 with a total investment not exceeding CNY 1.056 billion. While the company acknowledges potential impacts from lithium price volatility and uncertainties surrounding continuous stable production and customer certification, it plans to proceed with ongoing commissioning and optimization to reach design capacity, while keeping investors informed.