LOPAL(SH:603906) Zhong Guo Qi Che Bao Wang·2025-12-02 09:04Core Viewpoint - Longpan Technology is expanding its global footprint through its two core businesses: new energy materials and lubricants, effectively participating in the global competition of the Chinese automotive industry [1][2][14]. Group 1: New Energy Materials - Longpan Technology's subsidiary, Asia-Pacific Lithium Source, signed a long-term supply agreement with CATL to provide 157,500 tons of high-performance lithium iron phosphate cathode materials from Q2 2026 to 2031, ensuring capacity digestion and enhancing brand influence in overseas markets [2][3]. - The company has established the largest overseas lithium iron phosphate cathode materials factory in Indonesia, leveraging the region's rich lithium, nickel, and cobalt resources to meet the growing local supply demands [2][3]. - The Indonesian factory's output aligns with CATL's overseas bases, creating a cross-regional supply chain that reduces logistics costs and trade barriers, showcasing a unique advantage of China's new energy industry in global competition [3][14]. Group 2: Lubricants Business - Longpan's lubricants business serves as a stable foundation for its overseas expansion, with a market presence in over 20 countries, establishing a strong image for Chinese lubricant brands [4][8]. - The company tailors its lubricant products to meet local climate and operational conditions, such as producing high-performance lubricants for extreme temperatures in Kazakhstan and high-sulfur diesel environments in Zambia [8][9]. - In Southeast Asia, Longpan showcased its products at an automotive exhibition, emphasizing its adaptability to the region's high-temperature and high-humidity conditions, which garnered significant attention from local dealers and consumers [9][10]. Group 3: Industry Trends - The Chinese automotive industry is experiencing significant growth in exports, with a 15.7% year-on-year increase in total vehicle exports and a 90.4% surge in new energy vehicle exports in the first ten months of 2025 [11]. - The restructuring of global new energy trade dynamics presents historical opportunities for Chinese enterprises to shift from traditional export models to localized overseas operations, particularly in emerging markets like Southeast Asia [11][14]. - Longpan Technology's global strategy, termed "Very 7+1," focuses on building competitive advantages through market, capacity, talent, capital, vertical integration, product differentiation, and corporate culture, with ESG as a foundational support [13][14].