Ruitai New Materials' customer structure changes, CATL's procurement volume decreases

In 2023, the top five customers of Ruitai New Materials accounted for 88.78%. The top four customers may be CATL, LG New Energy, ATL and Yiwei Lithium Energy. However, the purchase volume of CATL, a major customer of Ruitai New Materials, has dropped significantly. In contrast, Tianci Materials' orders with CATL in 2022 increased by about 140% year-on-year, meeting about 40% of CATL's demand, and there will still be a growth of about 20% in 2023, which is the same as the growth rate of CATL's battery production.