Summary by Moomoo AI
Tianzi Lithium Co., Ltd. (the “Company”) announces that its ongoing joint transaction with Albemarle Germany under the Albemarle Agreement will amount to approximately 81 million tonnes in 2023, exceeding the projected annual limit of 74 million tonnes. This excess trading volume corresponds to the transaction amount of RMB261.74. The Company has revised the projected annual limit for 2024 to no more than 81 million tonnes in order to accommodate production technology improvements, increased lithium product demand and Albemarle Germany may increase purchasing volumes based on downstream customer demand. The revised ceiling has been approved by the Board of Directors and the terms of the transaction are considered fair and reasonable and in the overall interests of the Company and its shareholders. The Company insists that the actual transaction volume exceeded the expected limit and did not have a significant impact on the Company's business and operations, and the transactions concerned are fair and reasonable transactions in the Company's general and daily business processes.