Lanxiao Technology: Termination of a $25 million sales contract for a 3,000-ton battery-grade lithium carbonate lithium extraction equipment project

LightningPacketLoss · 2026-03-16T11:18:10+00:00

Blue Xiaoke Technology announced the termination of a $25 million lithium extraction contract with HANACOLLA S.A. due to changes in project planning. The termination agreement reached by both parties includes HANACOLLA paying $1.5 million to Blue Xiaoke Technology and waiving a portion of previously paid advance payments. The company stated that this agreement has no material impact on operating performance.

LightningPacketLoss

2026-03-16 11:18:10

Abstract generation in progress

On March 16, Lanxiao Technology (300487.SZ) announced the termination of its daily operation contract for salt lake lithium extraction. The announcement states that the company and HANACOLLA S.A. have agreed to terminate the “3,000-ton Battery-Grade Lithium Carbonate Extraction Equipment Sales Contract” (hereinafter referred to as the “Sales Contract”) due to changes in the overall project plan. The contract value is $25 million.

The announcement shows that both parties agree that the Sales Contract will be terminated from the date of signing the Termination Agreement; within three working days of signing the Termination Agreement, HANACOLLA will pay the company $1.5 million; HANACOLLA waives the right to request the company to refund the $2.5 million prepayment already paid.

Lanxiao Technology stated that the signing of this Termination Agreement will not have a significant impact on the company’s current operating performance and financial condition, nor will it harm the interests of the company and all shareholders.

(Company Announcement)

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