Core Viewpoint - The rapid growth in demand for lithium iron phosphate (LFP) is expected to drive significant increases in production and sales through 2026, benefiting companies like Longpan Technology [1] Industry Summary - According to Zeyan Consulting, China's LFP production is projected to reach 244.5 million tons in 2024 and 306 million tons in the first ten months of 2025, representing year-on-year growth of 54% and 59% respectively [1] - In October, LFP and iron phosphate production reached 40 million tons and 33.5 million tons, with capacity utilization rates of 75.9% and 76.7% [1] - The demand for LFP is expected to continue increasing due to the rapid growth in energy storage needs, making LFP a significant driver of demand for phosphate rock in China [1] Company Summary - Longpan Technology's stock rose over 3% and was trading at 13.3 HKD with a transaction volume of 1.09 billion HKD [1] - The company reported approximately 5.825 billion CNY in revenue for the first three quarters of 2025, a year-on-year increase of 2.91% [1] - Longpan Technology's net loss attributable to shareholders was approximately 110 million CNY, narrowing by 63.53% year-on-year, with a basic loss per share of 0.16 CNY [1]

Core Viewpoint - Longpan Technology (603906.SH) has secured a significant overseas order for lithium iron phosphate (LFP) cathode materials, indicating a growing demand for LFP in the international market [1][2]. Group 1: Company Developments - Longpan Technology's subsidiary, LBM NEW ENERGY (AP) PTE. LTD., signed a pricing agreement with Eve Energy Malaysia Sdn. Bhd. to sell a total of 152,000 tons of LFP from 2026 to 2030, with an estimated total sales value exceeding RMB 5 billion [1]. - This marks the third overseas LFP order disclosed by Longpan Technology since last year, following agreements with LG Energy and Blue Oval Battery Park [2]. - Longpan Technology is the first company to establish overseas LFP production capacity and achieve normal shipments, giving it a competitive advantage in securing international orders [4]. Group 2: Industry Trends - The global demand for LFP is on the rise, with many international automakers, including Tesla and General Motors, beginning to adopt LFP batteries due to their cost and safety advantages [3]. - In Q1 2023, LFP batteries accounted for 51.5% of the global power battery installation volume, highlighting their growing market share [3]. - The overseas LFP supply chain is struggling to keep pace with demand, leading to increased orders directed towards established Chinese LFP manufacturers like Longpan Technology [3]. Group 3: Production Capacity and Technology - Longpan Technology's overseas production capacity is primarily located in Indonesia, with a planned annual capacity of 120,000 tons, and the first phase is expected to achieve mass production by January 2025 [5]. - The company is also developing advanced fourth-generation high-density LFP products, which are expected to attract more customers due to their enhanced performance [5][7]. - Longpan Technology's latest product, S526, utilizes a single-sintering process to improve efficiency and reduce energy consumption, with mass production expected to begin in the second half of the year [7].