LOPAL(SH:603906) Zheng Quan Zhi Xing·2025-08-21 16:36Core Viewpoint - Jiangsu Longpan Technology Group Co., Ltd. plans to issue A-shares to specific investors in 2025 to raise funds for expanding production capacity and optimizing product structure in response to the growing demand for high-performance phosphate lithium battery materials [11][14][16]. Company Overview - Jiangsu Longpan Technology Group Co., Ltd. is located at No. 6, Hengtong Avenue, Nanjing Economic Development Zone, with a registered capital of 685.078903 million yuan [11]. - The company was established on March 11, 2003, and is involved in the production and sale of lubricants, specialized chemical products, and automotive parts [11]. Industry Context - The transition to new energy in the transportation sector is accelerating, creating significant opportunities for the electric vehicle and energy storage industries [11]. - Since 2020, the penetration rate of new energy vehicles in China has rapidly increased, with battery shipments expected to grow significantly in the coming years [11][12]. - The phosphate lithium battery market is expanding, with phosphate-based cathode materials becoming mainstream due to their cost advantages and safety [12]. Fundraising Plan - The company aims to raise up to 2 billion yuan through this issuance, with net proceeds allocated to projects totaling 2.39 billion yuan [23][27]. - The funds will primarily be used for a new production line capable of producing 110,000 tons of high-performance phosphate cathode materials annually [27]. Issuance Details - The issuance will target up to 35 specific investors, including qualified institutional investors and natural persons [18]. - The final issuance price will be determined based on the average trading price of the company's shares over the 20 trading days prior to the pricing date [19][20]. - The maximum number of shares to be issued will not exceed 30% of the company's total share capital before the issuance, amounting to 205,523,670 shares [20]. Market Position and Strategy - The company has established strong business relationships with major battery manufacturers, including CATL and LG Energy [16]. - To meet the increasing demand for high-performance materials, the company is focusing on enhancing its production capabilities and product differentiation [16][17]. - The company plans to optimize its capital structure and reduce its debt ratio through this issuance, thereby enhancing financial stability [17].