Zhejiang Yongtai Technology Sues Guangzhou Tinci Materials for 58 Million Yuan

Guangzhou Tinci Materials Technology has sued Zhejiang Yongtai Technology and 11 others for 887.1 million yuan in damages, alleging they stole its liquid lithium battery chemical technology.

Company subsidiary Jiujiang Tinci claims ex-employee Li Sheng leaked secrets to Zhejiang Yongtai Technology for its 134,000-ton lithium project, according to a Thursday filing with the Shenzhen bourse.

Two defendants were already convicted of violating trade secret laws in 2024.

Guangzhou Tinci Materials Technology demands production-line destruction, a public apology and legal fees.

The electrolytes producer's shares closed 4% higher Thursday.

Zhejiang Yongtai Technology and subsidiary Shaowu Yongtai is being sued by Jiujiang Tinci High-Tech for alleged trade secret infringement in lithium battery materials production.

The case, filed in the Jiangxi High Court, involves liquid lithium hexafluorophosphate, though the chemical company said it currently only makes solid hexafluorophosphate, according to a Thursday filing with the Shenzhen bourse.

Shares of Yongtai Technology closed 2% lower Thursday.

Guangzhou Tinci Materials Technology signed a strategic investment agreement with the Moroccan government to build a $280 million integrated production facility in Jorf Lasfar.

The project will produce 150,000 tons annually of electrolyte and key lithium battery materials, according to a Thursday filing with the Shenzhen bourse.

The plant is expected to be operational within five years.

ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.

(GDR under the symbol: "YTT")

(a joint stock company established under the laws of the People's Republic of China with limited liability)

2024 ESG Report

Zhejiang Yongtai Technology Co., Ltd. hereby announces the 2024 Environmental, Social and Governance Report.

For details, please visit:

http://www.rns-pdf.londonstockexchange.com/rns/3136G_1-2025-4-25.pdf

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Board of Directors

Zhejiang Yongtai Technology Co., Ltd.

25 April 2025

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