On December 19, Glonghui reported that Shanghai Putailai New Energy Technology (603659.SH) announced that on December 3, 2024, the Swedish Strategic Product Inspection Bureau raised several requirements regarding the company's investment project, involving the equity control of Swedish Zicheng, the composition of the management team, the ownership of R&D results, and regulatory arrangements, among others. After careful assessment and in-depth discussions, the company believes these requirements pose significant challenges in terms of commercial logic and practical operations, and has proposed more feasible solutions. However, in further communications with the Swedish Strategic Product Inspection Bureau, it failed to agree with the feedback proposed by the company. On December 18, 2024, the company was notified by the Swedish Strategic Product Inspection Bureau that the investment was not approved, and the company may appeal to the Swedish government within the prescribed time frame.
The conditions raised by the Swedish Strategic Product Inspection Bureau regarding the company's integrated production base project of 0.1 million tons of lithium-ion Anode Material in Sweden cannot be completely agreed upon by the company. Given the decision made by the Swedish Strategic Product Inspection Bureau to not approve the company's investment, the company plans to terminate the implementation of the 0.1 million tons lithium-ion Anode Material integrated production base project in Sweden, and will further appeal to the Swedish government. The company will maintain communication with relevant departments of the Swedish government to explore other possibilities for continuing the project.
The company has hired internationally renowned consulting Institutions to conduct in-depth research on aspects such as environmental impact, road traffic, rain and snow water management, fire safety, and Energy management related to the project, with the amount paid for various feasibility studies being approximately 14 million yuan (RMB). Overall, the amount is controllable, has a minimal impact on the company's current financial situation, and considering that the Swedish Strategic Product Inspection Bureau is the designated review agency under the Foreign Direct Investment Law, the cooperation agreements with various consulting Institutions cannot continue due to force majeure factors, thus the company anticipates that there will not be a significant additional burden. Given that the integrated capacity of 0.1 million tons of lithium-ion Anode Material in Sweden has not yet commenced construction, it will not have a significant impact on the company's revenue and Net income.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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