Core Viewpoint - Longpan Technology has signed a significant contract with Chuangneng New Energy, which is expected to stabilize its product sales and improve future revenue [1][2]. Group 1: Contract Details - Longpan Technology will sell a total of 150,000 tons of lithium iron phosphate cathode materials to Chuangneng New Energy from 2025 to 2029, with a total sales amount exceeding 5 billion RMB [1][2]. - The sales model includes both self-supplied lithium carbonate and customer-supplied lithium carbonate, with specific prices to be determined monthly based on the agreement [2]. Group 2: Financial Performance - In Q1 2025, Longpan Technology achieved revenue of 1.592 billion RMB, a year-on-year increase of 7.99%, while the net profit was -25.9488 million RMB, an improvement of 66.98% year-on-year [1][6]. - The company has been reducing its losses, with a significant narrowing of losses in 2024, reporting a revenue of 7.673 billion RMB, down 12.10% year-on-year, and a net profit of -636 million RMB, an improvement of 48.46% year-on-year [6]. Group 3: Business Overview - Longpan Technology primarily engages in the research, production, and sales of lithium iron phosphate cathode materials and automotive environmental fine chemicals, serving the fields of new energy vehicle power batteries and energy storage batteries [4]. - The company has seen a dramatic increase in performance since entering the lithium iron phosphate business in 2021, with a peak revenue of 14.072 billion RMB in 2022, but faced a decline in 2023 with revenue dropping to 8.729 billion RMB, a decrease of 37.96% year-on-year [5][6].
龙蟠科技营收增8%持续减亏 与楚能新能源签下50亿长单