万润新能：上半年客户开拓持续发力，三季度有望产销两旺

Core Viewpoint - Wanrun New Energy is focusing on customer development and expects to maintain high capacity utilization in Q3 due to increased orders from strategic clients and successful onboarding of new customers [2] Group 1: Business Development - In the first half of the year, Wanrun New Energy has made significant efforts in customer acquisition, leading to a positive outlook for production and sales [2] - The company signed a business cooperation agreement with CATL in May, committing to supply approximately 1.32 million tons of lithium iron phosphate products starting from May 1, 2025 [2] - Both companies will collaborate on the technological iteration and mass production of high-pressure density lithium iron phosphate products, as well as deepen cooperation in the new energy market [2] Group 2: Product Focus - Wanrun New Energy primarily focuses on cathode materials and precursors for power batteries and energy storage batteries, including lithium iron phosphate, iron phosphate, sodium-ion battery materials, and lithium manganese iron phosphate [2] - In 2024, the company's lithium iron phosphate shipment is expected to reach 228,200 tons, accounting for 98.93% of its main business revenue [2]