Anda Technology's performance is poor, with losses exceeding 600 million yuan in 2023

In recent years, Anda Technology's performance has not been ideal, especially in 2023, when the company's losses exceeded 600 million yuan. This situation is partly due to the dependence of lithium iron phosphate production costs on lithium carbonate prices and market volatility. At the same time, Anda Technology's production capacity advantage is not obvious. At present, China's built lithium iron phosphate production capacity is close to 3.5 million tons, but the industry's operating rate is less than 50%. Due to oversupply in the market, many lithium iron phosphate projects have been postponed or stopped.