CATL: In the new lithium battery cycle, the progress of lithium mine recovery and mining will be accelerated.

At the performance interpretation meeting of Ningde Times for the 2025 annual report held today, the company's management responded to investors' questions by stating that the Jiangxi Yichun lithium mine obtained a mining license at the end of last year and is currently undergoing the process of resuming production, involving government approval procedures. The Snowy lithium mine project also conducted preliminary preparations last year, including installation and environmental assessment, and there are more approval procedures, so it may take a little longer. However, the grade and cost of the Snowy project are both very good. Once mining activities begin, the benefits will be considerable, which will help ensure resources for the supply chain. The company will accelerate progress in this area in the new cycle.