BTR negative electrode material sales and customer relations

In 2023, the production capacity of negative electrode materials of BYD increased, but the capacity utilization rate decreased and the sales price also decreased. Its average sales price and sales growth rate are lower than those of Putailai. BYD's important customers include Samsung SDI, Panasonic, LG ES, SK on, CATL, BYD and Yiwei Lithium Energy. However, compared with 2022, Murata and Lishen have withdrawn from the ranks of important customers. In 2023, BYD's top five customers contributed 77.41% of revenue, up from 71.82% in 2022 and 67.91% in 2021.