Tianqi Lithium Corporation (002466.SZ) stated during an investor relations event on July 31 that the establishment of the joint venture company is subject to a series of prerequisites disclosed in the "Partner Agreement" by SQM, including but not limited to: 1) obtaining the approval of domestic and foreign antitrust agencies in Chile; 2) completing consultation procedures with indigenous communities; and 3) the injunction request submitted by Tianqi Chile, a wholly-owned subsidiary of the company, to the CMF on May 21, 2024, (i.e., the transaction must be approved by two-thirds of the voting shares at the SQM shareholder meeting) was not accepted, and no authorized agencies have issued orders to prevent the joint venture relationship from taking effect.

Although on July 15, 2024 local time, the company received a response from the CMF regarding administrative review claims: the request submitted by Tianqi Chile in its administrative review application on June 26, 2024 was not accepted, and the previous decision will be maintained: the "Partner Agreement" is not suitable for the special shareholder meeting of SQM to make a ruling, and the transaction should be analyzed and decided by the SQM board of directors. However, on July 26, 2024 local time, Tianqi Chile appealed to the Santiago Court of Appeals in Chile regarding the rejection by the CMF of its administrative review claims on June 26, 2024, requesting the suspension of the efficacy of the review decision made on July 15, 2024.

Regarding the indigenous community, we noted that according to the Chilean local media "Las Tres Puntas" report on June 21, the Atacama Coyo indigenous community of Chile believes that the agreement between Sociedad Quimica y Minera de Chile S.A. (SQM) and Tianqi is associated with a "series of irregular and unlawful acts", hoping to cancel it.

In addition, we also noted that the Chilean House of Representatives launched a vote on the proposal to abolish the agreement at the 55th special meeting held on July 23, as reported by Chilean local media "Ciudadano Report", and obtained 41 votes in favor, 15 votes against, and 10 abstentions. We understand from public information that, although the passage of this proposal does not directly abolish the C-S agreement, it may bring great pressure on the promotion of this agreement in the future, and may also bring uncertainty to the smooth establishment of the joint venture company of Sociedad Quimica y Minera de Chile S.A. and Tianqi. We believe that the development of Chile's lithium industry will meet a more fair, just, and open environment, bringing maximum value.

The company will continue to follow up on the progress of lawsuits, closely monitor relevant information, take the protection of the legitimate rights and interests of all shareholders as a premise, aim at maximizing the value of the company, be guided by medium and long-term sustainable development, and considering the actual situation of the company and the demands of shareholders and comprehensively analyze various factors. If any relevant information touches on the company's information disclosure obligations in the future, the company will strictly fulfill its information disclosure obligations in a timely manner in accordance with relevant laws and regulations.