募资20亿元！603906看好正极材料市场需求

Core Viewpoint - Longpan Technology plans to raise up to 2 billion yuan through a private placement to fund high-performance phosphate cathode material projects and supplement working capital, aiming to capitalize on the growing demand in the new energy vehicle and energy storage markets [4][5]. Group 1: Financial Performance - In the first half of 2025, Longpan Technology achieved operating revenue of 3.622 billion yuan, a year-on-year increase of 1.49% [3]. - The company reported a net profit attributable to shareholders of -85.15 million yuan, significantly reducing losses compared to -222.31 million yuan in the same period last year [3]. - The net profit after deducting non-recurring gains and losses was -131.75 million yuan, also a substantial reduction from -297.76 million yuan year-on-year [3]. Group 2: Investment Projects - The total investment for the high-performance phosphate cathode material projects is 239 million yuan, with 200 million yuan planned for fundraising [1]. - The projects include an 110,000-ton high-performance phosphate cathode material project and an 85,000-ton project, along with funds for working capital [1][4]. Group 3: Market Demand and Positioning - The demand for cathode materials is rapidly increasing, with China's lithium battery shipments reaching 776 GWh in the first half of 2025, a 68% year-on-year growth [5]. - Phosphate iron lithium material shipments reached 161,000 tons, also up 68% year-on-year, accounting for nearly 77% of total cathode material shipments [5]. - Longpan Technology aims to enhance its production capacity for high-performance phosphate cathode materials to meet the growing needs of the new energy vehicle and energy storage sectors [5][6]. Group 4: R&D and Competitive Advantage - Longpan Technology has invested 1.9 billion yuan in R&D in the first half of 2025, with cumulative R&D expenses from 2022 to 2024 reaching 15.85 billion yuan [7]. - The company holds 474 valid patents, including 138 invention patents, which supports its project implementation and competitive positioning in the market [7].