- Ronbay shares opened Monday at the daily limit-down of 20%, though losses have narrowed to about 11%.
- Ronbay said it will cooperate with the CSRC investigation, adding that all company operations and business activities are currently proceeding normally.
Ningbo Ronbay New Energy Technology (SHA: 688005) is under investigation by China's securities regulator after its massive order announcement last week involving CATL (HKG: 3750, SHE: 300750) drew scrutiny.
The Shanghai-listed company disclosed in a Monday exchange filing that it received an investigation notice from the China Securities Regulatory Commission (CSRC) on January 18 over suspected misleading statements in its major contract announcement.
Ronbay will cooperate with the CSRC investigation, and all its operations and business activities are currently proceeding normally, it said.
Affected by the investigation, Ronbay shares opened Monday at the daily limit-down of 20%, though losses have since narrowed to about 11%.
On January 14, Ronbay announced in an exchange filing that it had signed an LFP cathode material procurement agreement with CATL to supply the battery manufacturer from the first quarter of 2026 through 2031.
Ronbay expects to supply CATL with 3.05 million tons of LFP cathode material during the agreement period, with total sales exceeding RMB 120 billion ($17.2 billion), the announcement said at the time.
This represents the largest order to date in the lithium and battery industries, drawing widespread attention.
Ronbay subsequently faced inquiries from the Shanghai Stock Exchange, which requested supplementary disclosure regarding the specific annual production capacity stipulations in the agreement and the company's ability to fulfill its obligations.
In response to these inquiries, the company said last week that the RMB 120 billion lithium material order value mentioned in its announcement was an estimate and subject to uncertainty.
In its latest response to the exchange's inquiry on Monday, Ronbay reiterated this statement and noted that it established a lithium iron phosphate (LFP) division in September 2025 to consolidate R&D resources and secure support from the group.
