Zhong Guo Ji Jin Bao·2026-01-13 13:31Core Viewpoint - Rongbai Technology has signed an agreement with CATL to supply approximately 3.05 million tons of lithium iron phosphate cathode materials, with a total sales amount exceeding 120 billion yuan, marking a significant step in the development of the new energy era [2][5]. Group 1: Agreement Details - The cooperation agreement stipulates that from Q1 2026 to 2031, Rongbai Technology will supply CATL with around 3.05 million tons of lithium iron phosphate cathode materials, totaling over 120 billion yuan in sales [5]. - The agreement is expected to positively impact the company's future operating performance and enhance its stability and anti-cyclical capabilities [10]. Group 2: Market Outlook - The joint development of power and energy storage markets is expected to drive the arrival of the new energy era, indicating a substantial market space for lithium iron phosphate batteries [7]. - The global energy transition, along with advancements in solar and energy storage technologies, is leading to a decrease in the cost of new energy compared to fossil fuels, facilitating the arrival of an "energy singularity" era [8]. Group 3: Company Performance and Risks - Rongbai Technology's products are positioned as industry leaders in key performance indicators such as iron leaching rate, first efficiency, and packing density, making them suitable for high-end energy storage and power battery markets [9]. - The company has indicated a potential risk of overcapacity in the future due to ongoing industry expansion, despite current high demand for mid-to-high-end lithium iron phosphate products [9]. - The company anticipates a significant fluctuation in its performance for 2025, with projected net profits ranging from -190 million yuan to -150 million yuan, primarily due to a decline in sales during the first three quarters [10][12].