2 1 Shi Ji Jing Ji Bao Dao·2026-01-14 12:09Core Viewpoint - Company Rongbai Technology has signed a significant six-year procurement agreement with CATL for lithium iron phosphate cathode materials, amounting to over 120 billion yuan, which is three times the company's revenue for the first three quarters of 2023 [1] Group 1: Agreement Details - The agreement stipulates a total supply of 3.05 million tons of products from Q1 2026 to 2031, marking it as the largest single procurement agreement in industry history [1] - The average price of the order is calculated at approximately 39,300 yuan per ton, which is over 30% lower than the current market price of around 55,000 yuan per ton [4][5] Group 2: Regulatory Concerns - The Shanghai Stock Exchange issued an inquiry regarding the compliance and performance capability of the agreement, questioning whether the company exaggerated its statements or used the large contract to manipulate stock prices [2] - The company’s current production capacity of 6,000 tons per year is significantly lower than the average annual supply requirement of approximately 508,000 tons, indicating a gap of over ten times [4] Group 3: Strategic Implications - The agreement is part of the company's strategic shift from ternary cathode materials to lithium iron phosphate, aiming to establish itself as a core supplier in the lithium battery supply chain [6] - The company plans to achieve a production capacity of 600,000 tons of lithium iron phosphate by 2026 and aims for a total of 3 million tons across various regions by 2030 [6] Group 4: Historical Context - This is not the first collaboration between Rongbai Technology and CATL; previous agreements include a strategic cooperation for high-nickel ternary materials and sodium battery cathode materials [7] - The trend of long-term agreements in the lithium battery industry is becoming more common, with other companies also entering into significant contracts with CATL [8]