Breaking News! Two major lithium battery projects halted

Recently, Dao Shi Technology Co., Ltd. announced that the company has decided to re-evaluate and temporarily suspend implementation of the following two projects: (1) the '100,000-ton-per-year ternary precursor project (Phase I: 70,000 tons of ternary precursors and配套 30,000 tons of nickel sulfate)' and (2) the 'Dao Shi New Energy Recycling Research Institute Project'. This decision has already been approved by the Board of Directors and does not require subsequent submission to the shareholders’ meeting. According to the announcement, in April 2023, Dao Shi Technology raised RMB 2.579 billion (net proceeds) via a public offering of convertible bonds, intended for investment in the above two projects, repayment of bank loans, and supplementing working capital. As of June 30, 2025, cumulative investment in the ternary precursor project amounted to RMB 319 million, representing an investment progress of 18.67%; no funds have yet been invested in the recycling research institute project. Regarding the reasons for suspending the projects, Dao Shi Technology explained that the growth rate of China’s new-energy vehicle market has slowed, lithium iron phosphate (LFP) materials are squeezing the market share of ternary precursors, and industry competition has intensified. Given that the company’s existing production capacity is sufficient to meet current order demand, it has decided to re-evaluate and temporarily suspend implementation of the ternary precursor project.

Over 2,000 lithium battery industry chain enterprises: Guangdong Dao Shi Technology Co., Ltd. (lithium carbonate + lithium hydroxide)

Cheyanjiu Consulting (cheyanjiu.com) conducted research on over 2,000 enterprises across the lithium battery industry chain—including lithium battery manufacturers, cathode material producers, anode material producers, separator material suppliers, electrolyte/six-fluorophosphate lithium material suppliers, lithium ore/lithium carbonate/lithium hydroxide producers, lithium battery equipment manufacturers, and lithium battery recycling enterprises. Among these, the report titled 'China Lithium Ore and Lithium Salt Market Development Trends and Investment Outlook Forecast Report (2021–2025) (2021 Edition)' provides detailed analysis of 150 lithium ore and lithium salt enterprises (including parent companies and subsidiaries counted separately) nationwide—covering over 90% of all lithium ore and lithium salt enterprises in China. (I) Company Profile Guangdong Dao Shi Technology Co., Ltd. primarily engages in the production, research and development, and sales of inorganic non-metallic materials. Its products fall into two main categories: building ceramic glaze materials and new-energy battery materials. Prior to 2016, the company’s business was concentrated in the building ceramics sector, with primary products including ceramic glazes and ceramic inks. Starting in 2016, leveraging its technical expertise accumulated in the ceramic construction materials field, the company expanded into the new-energy materials sector through mergers and acquisitions, gaining controlling stakes in Haoxin New Energy, Jiana Energy, and Hongrui New Materials.

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