龙蟠科技，又签大单

Core Viewpoint - Longpan Technology has signed a long-term procurement agreement with Sunwoda's subsidiary in Thailand, with an estimated sales amount of 4.5 billion to 5.5 billion yuan, which is expected to positively impact the company's future performance [1][5][6]. Group 1: Agreement Details - The agreement stipulates that from 2026 to 2030, Longpan's subsidiary LBM New Energy (AP) Pte. Ltd. will supply 106,800 tons of lithium iron phosphate cathode materials to Sunwoda Automotive Energy Technology (Thailand) Co., Ltd. [5][17]. - The total sales amount is estimated to be between 4.5 billion and 5.5 billion yuan, depending on actual sales orders [5][17]. Group 2: Company Performance - Longpan Technology's main business includes lithium iron phosphate cathode materials and automotive environmental fine chemicals, with the former's shipment volume ranking among the top in the industry [6][18]. - The company's losses in the lithium iron phosphate cathode materials business have been decreasing, with net losses for the first three quarters of 2025 reported at -110 million yuan and -172 million yuan for net profit attributable to the parent company [7][19]. Group 3: Industry Context - Major battery manufacturers, including CATL, have been frequently signing long-term supply agreements with upstream material suppliers to ensure supply chain stability as the lithium battery industry shows signs of recovery [10][21]. - In the domestic battery market, Sunwoda ranked 6th in installed capacity from January to October 2025, with a total of 19.29 GWh, representing a 3.34% market share [21][20].