Resolution criteria

• Resolves YES if, by 23:59 China Standard Time (UTC+8) on Dec 1st, 2025, CATL (or its subsidiary) receives government approval that renews or reissues the mining license authorizing production to resume at the Jianxiawo (枧下窝) lithium‑bearing ceramic clay mine in Yichun, Jiangxi (Yifeng/Fengxin counties). Acceptable proof: an official company regulatory filing or an approval/notice from the competent natural‑resources authority. Otherwise resolves NO.

• Verification links (any one suffices):

  • CATL regulatory filings (stock 300750) on CNINFO or SZSE.

    • CNINFO company disclosures (search stock code 300750): https://www.cninfo.com.cn/

    • SZSE disclosure portal: https://www.szse.cn/disclosure/listed/notice/

  • Government notices for mining rights approvals in Yichun/Jiangxi:

    • Jiangxi natural‑resources online trading system (used for Yichun mining rights notices): https://zrzy.jxggzyjy.cn

• Clarifications: provisional/conditional approvals that explicitly allow mining to resume count; exploration permits, processing/refining approvals, or approvals for other Yichun assets do not. Name or holding‑company changes still count if they clearly refer to the same Jianxiawo mine.

Background

• On August 9, 2025, the mining license for CATL’s Yichun project expired; CATL confirmed on August 11 that mining was suspended and that it is applying for renewal to restart operations. (reuters.com, ithome.com)

• Local authorities required multiple Yichun lithium mines to complete reserve‑verification reports by September 30, 2025, as part of heightened oversight, contributing to uncertainty over renewals. (finance.eastmoney.com)

Considerations

• The mine referred to in Chinese filings/media is Jianxiawo/枧下窝; look for that name (often described as a lithium‑bearing ceramic clay/lepidolite deposit) tied to CATL or its controlled entities in approvals or company disclosures. (ithome.com)