On 28 April 2026, Zhejiang Tiantie Technology Co., Ltd. (浙江天铁科技股份有限公司) issued an announcement that the company has decided to terminate its 100,000 tpa modified graphite anode material project at the Lujiang High-Tech Zone. The project had an original total planned investment of approximately RMB 1.45 billion (~US$213 million). The termination was approved by the company’s 5th Board of Directors at its 20th meeting and remains subject to shareholder approval.
Tiantie Technology had launched the project on 20 February 2024, when its 4th Board of Directors at the 49th meeting approved the signing of an Investment Agreement with the Anhui Hefei Lujiang High-Tech Industrial Development Zone Management Committee.
According to the announcement, following the signing, the company actively advanced preliminary preparation work. However, taking into account the current industry environment and the company’s operational conditions, the board concluded after careful review and comprehensive assessment that continuing to advance the project would significantly increase capital pressure and that the expected returns from the project would be difficult to achieve.
In order to safeguard the company’s overall interests, rationally allocate resources, and effectively manage risk, the board resolved to terminate the project and authorised management to handle all related termination procedures and any follow-on agreements as required. The announcement noted that the termination does not constitute a related-party transaction, nor does it constitute a major asset restructuring as defined under the Administrative Measures for Major Asset Restructuring of Listed Companies.
Tiantie Technology stated that the termination will not affect the company’s normal production and business operations, will not have a material impact on its current financial position and operating results, and will not harm the interests of the company and its shareholders — including minority shareholders.
Market analysts noted that against a backdrop of intensifying competition in the new energy materials sector and shifting market conditions, Tiantie Technology’s proactive decision to terminate a project with inadequate projected returns reflects a prudent approach to investment risk and a strategic focus on optimising resource allocation, which should help the company concentrate on its core business and improve overall operating efficiency.
Note: All CNY figures converted to USD at 1 USD = 6.80 CNY (8 May 2026).
Source: Shimo Shixun (石墨时讯), “10万吨负极项目终止！”, republished via WeChat, 3 May 2026.
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