Recently, Changzhou Lithium Source, a holding subsidiary of Longpan Technology, successfully signed a long-term Supply Agreement with LG Energy Solution, Ltd. (LG New Energy). According to the agreement, Changzhou Lithium Source will sell 160,000 tons of lithium iron phosphate cathode material products to LG New Energy from 2024 to 2028, with the total agreement amount exceeding 7 billion yuan (the final settlement is based on the actual sales order); In addition, the agreement stipulates that the two parties will use their best efforts to negotiate and determine the additional supply and sale of 360,000 tons of lithium iron phosphate cathode material products from 2025 to 2028.

LG New Energy is part of South Korea's LG Group. As a global leader in battery technology, LG's new energy business covers three major areas: power batteries, small batteries, and energy storage systems. In the field of battery technology innovation and research and development, LG New Energy has continued to cultivate for 30 years, established a strong global business network, and jointly built production bases with global mainstream automobile brands such as General Motors, Stellantis N.V., Hyundai Motor Group, Honda Motor, covering the core regions of North America, Europe, and Asia.

The strong cooperation with LG New Energy and long-term cooperative relationship are conducive to further consolidating the leading position of Lonpan Technology and Changzhou Lithium Source in the lithium iron phosphate anode material industry, providing important support for Lonpan Technology to deepen production capacity cooperation and expand the global market. Longpan Technology is looking forward to working with more high-quality industry partners to achieve complementary advantages, industrial linkage, win-win cooperation, and jointly promote the ecological health and high-quality development of the new energy market.