Yongshan Lithium announced that the company's controlling shareholder, Ningbo Jutai, defaulted on its debt, and its 102,000,000 shares were judicially frozen, accounting for 58.67% of its shares and 19.79% of the total shares. Ningbo Jutai and its concerted action person Shanghai Steel cumulatively hold 227,356,527 shares of the company, with a cumulative frozen shares of 102,000,000 shares, accounting for 44.86% of its shares and 19.79% of the total shares. The company stated that this judicial freeze of shares will not affect the company's production and operation, control rights, equity structure, corporate governance, or performance compensation obligations.