Securities code: Tibet Summit Resources Co.Ltd(600338) securities abbreviation: Tibet Summit Resources Co.Ltd(600338) Announcement No.: 2022018 Tibet Summit Resources Co.Ltd(600338)
Progress announcement on major contracts of daily operation
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. On February 18, 2022, the ninth (Interim) meeting of the eighth board of directors of Tibet Summit Resources Co.Ltd(600338) (hereinafter referred to as “the company”) deliberated and approved the proposal on the proposed signing of the equipment supply contract for the adsorption section of the 50000 ton / year lithium carbonate salt lake lithium extraction project of Argentina lithium potassium Co., Ltd. with Sunresin New Materials Co.Ltd Xi’An(300487) and 25000 ton / year lithium carbonate scale brine lithium extraction project, See the announcement on signing major contracts for daily operation (Announcement No.: 2022015) disclosed on February 22 for details.
1、 Progress of contract performance
On March 3, 2022, the company and Sunresin New Materials Co.Ltd Xi’An(300487) (hereinafter referred to as
” Sunresin New Materials Co.Ltd Xi’An(300487) “) has completed the signing of the equipment supply contract for the adsorption section of the 25000 T / a lithium carbonate brine lithium extraction project of the 50000 T / a lithium carbonate salt lake lithium extraction construction project of Argentina lithium potassium Co., Ltd., as well as the receipt and payment of the advance payment of 65 million yuan (10% of the total contract amount), and the contract has officially come into force.
2、 Impact of contract performance on the company
(I) the performance of this contract is conducive to the smooth progress of the equipment supply of Sunresin New Materials Co.Ltd Xi’An(300487) 25000 ton adsorption section. The relevant contracts signed with the company and other partners are beneficial to the overall promotion of the construction of the 50000 ton annual output lithium carbonate salt lake lithium extraction project of Argentina lithium potassium Co., Ltd., and have a positive impact on the company’s business performance in 2022.
(II) the performance of this contract will not adversely affect the business independence of the company. The 50000 ton / a lithium carbonate salt lake lithium extraction construction project of Argentina lithium potassium Co., Ltd. adopts an efficient mode of Collaborative Procurement from multiple equipment and technology suppliers and the overall leadership and responsibility of the project operation management party. The company’s lithium salt lake resource development will not depend on the contract due to the performance of the contract.
3、 Risk analysis of contract performance
1. In addition to ordering 25000 tons of adsorption section equipment of Sunresin New Materials Co.Ltd Xi’An(300487) the company’s salt lake lithium extraction project is mainly composed and implemented by mining construction EPC contract, core lithium extraction equipment BOT contract and other parties. There is a risk that insufficient coordination efficiency will affect and delay the construction period.
2. The implementation of relevant contracts of the company’s salt lake lithium extraction project requires a certain period of time. In the actual performance process, if the impact of unpredictable or force majeure and other factors may lead to the risk that part or all of the contents of the contract cannot be completed on schedule.
Please pay attention to investment risks.
4、 Other instructions
The company will actively pay attention to the follow-up performance information of the contract and timely disclose the specific progress, including but not limited to: major changes in the contract, major risks in the performance of the contract, early termination of the contract, completion of the performance of the contract and other major information.
It is hereby announced.
Tibet Summit Resources Co.Ltd(600338)
Board of directors
March 7, 2022
