Tinci Materials withdraws trade secret infringement lawsuit

Guangzhou Tinci Materials Technology announced the withdrawal of its trade secret infringement lawsuit against Jinshi Resources Group and its subsidiary, Jiangshan Jinshi New Materials Technology, initially filed in August 2023. The lawsuit, regarding alleged infringement of lithium hexafluorophosphate product technology, was transferred to the Intermediate People's Court of Hangzhou, Zhejiang Province after Jinshi Resources challenged jurisdiction. Tinci Materials withdrew the suit based on new circumstances and the Intermediate People's Court of Hangzhou approved the withdrawal. Tinci Materials stated that the withdrawal will not have a material adverse effect on the company's current or future profits, and it reserves the right to refile the suit based on future developments.