On March 13, ST Pawa announced that Pawa Lanxi, a wholly-owned subsidiary of ST Pawa, intends to sign the "Lanxi Economic Development Zone Enterprise Asset Recovery Agreement" with the Management Committee of Zhejiang Lanxi Economic Development Zone. The Management Committee of Lanxi Development Zone will take back the land use right and the project under construction involved in the company's "Ternary Precursor Project with an Annual Output of 15000 Tons" with a total transaction amount of 73.68 million yuan. Excluding the return of new product research and development subsidies, the actual transaction amount was 53.68 million yuan.
ST Pawa's "Ternary Precursor Project with an Annual Output of 15,000 Tons" was launched in November 2022. After several changes and delays in the project construction plan, the project has not yet been completed and put into use, and the benefits have not been realized, so the construction has been terminated.
The company's performance report shows that in 2025, the company realized operating income of 673 million yuan, down 29.01% from the same period last year, net profit loss of 698 million yuan, non-net profit loss of 694 million yuan, highlighting the operating pressure.
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