Lyon released a research report stating that according to channel investigations, Contemporary Amperex Technology Co., Limited (03750, 300750.SZ) may have submitted materials to the Natural Resources Bureau regarding the Jiangxi Yichun lithium mine, marking an important step in applying for renewal. The firm believes the company may seek "comprehensive utilization" approval by reporting very low lithium grades, which would represent a shorter process compared to obtaining a complete lithium mining license. Lyon expects lithium prices to face downward pressure, anticipating lithium carbonate prices to quickly fall below 70,000 yuan per ton, reflecting a return to market oversupply conditions. The firm maintains an outperform rating on CATL's H-shares.