- Ronbay said that the RMB 120 billion ($17.2 billion) lithium material order amount with CATL represents its own estimates and involves uncertainties.
- The company said that the final actual sales volume will be determined based on raw material prices and quantities at the time of order execution.
Shanghai-listed Ningbo Ronbay New Energy Technology (SHA: 688005) said that the RMB 120 billion ($17.2 billion) lithium material order amount mentioned in its previous announcement with CATL (HKG: 3750, SHE: 300750) was an estimate and subject to uncertainty.
Ronbay made the clarification in a new announcement late Thursday Beijing time, following inquiries from the Shanghai Stock Exchange after its initial exchange filing.
The agreement with CATL does not stipulate a total sales amount, the battery material producer said.
The "RMB 120 billion contract total" represents the company's estimates, with the final actual sales volume to be determined based on raw material prices and quantities at the time of order execution, making the sales amount uncertain, Ronbay said.
Ronbay announced the deal in a Tuesday exchange filing, stating it would supply CATL with 3.05 million tons of LFP cathode materials from the first quarter 2026 through 2031.
This represents the largest order to date in the lithium and battery industries, drawing widespread attention.
The Shanghai Stock Exchange subsequently requested Ronbay to disclose specific annual production capacity commitments under the agreement and confirm the company's fulfillment capabilities.
Following the inquiry, Ronbay's stock trading was suspended starting Wednesday. The company said in its latest announcement that trading will remain suspended on Friday.
($1 = RMB 6.9756)
