根据协议，项目将于2026年一季度启动建设，三季度竣工投产。常州锂源承诺一期项目建成后产能不低 于12万吨/年，同时计划将原有项目产能从6.25万吨/年提升至10万吨/年。这个时间表异常紧凑，从启动 到投产仅有两个季度时间。 与此同时，龙蟠科技控股子公司常州锂源刚刚宣布，自2026年1月1日起将对部分产线减产检修一个月， 预计减少磷酸铁锂产量约5000吨。 2025年中报显示，龙蟠科技有息负债已达95.76亿元，同比增加6.90%。公司的有息资产负债率达到 52.89%。 截至2025年三季度末，公司的资产负债率攀升至79.24%。这一数字相较于2025年中报时的78.41%又有 上升。 来源：新浪财经 日前，龙蟠科技公告，拟投资不超过20亿元建设24万吨高压实磷酸铁锂生产基地。 上海钢联指出，目前磷酸铁锂三代产品加工费承压运行，而高压实产品维持溢价。 不过，龙蟠科技的新产能计划并非孤例。富临精工在10月29日公告，其子公司拟投资40亿元建设年产35 万吨新型高压实密度磷酸铁锂项目。 12月29日，宁德时代控股子公司邦普循环举办了"宜昌邦普时代45万吨/年新一代磷酸铁锂项目"投产仪 式。 化工巨头万华化学正大 ...

Core Viewpoint - The demand for high-pressure lithium iron phosphate (LFP) is increasing due to the performance improvements in energy storage and power batteries, while the supply is constrained by the complexity of production processes and the limited number of companies capable of mass production [1][2][4]. Group 1: Market Demand and Supply Dynamics - High-pressure LFP is in high demand due to the scaling of large-capacity, high-energy, and fast-charging batteries [1]. - The production of high-pressure LFP requires strict raw material purity and particle size distribution, with only a few companies mastering mass production technology [1][2]. - The pricing mechanism for LFP has shifted to a model based on "raw material market price + processing fee," with high-pressure LFP commanding an additional processing fee of 2000-5000 yuan per ton compared to standard products [1]. Group 2: Competitive Landscape - The production capacity for fourth-generation high-pressure LFP (≥2.6g/cm³) is concentrated among leading companies such as Fulin Precision, Hunan Youneng, Longpan Technology, and Defang Nano, which limits the survival space for smaller firms [2]. - Despite the capacity of leading firms, actual production and future capacity ramp-up will take time, leading to a significant demand gap in the short term [2][4]. - The market for fourth-generation LFP is expected to see concentrated supply once leading companies complete their capacity expansions, potentially altering the competitive landscape [2]. Group 3: Industry Trends and Innovations - The performance of energy storage batteries is improving, with average capacity utilization rates for leading battery companies reaching 70%-80%, and some even exceeding 80% [5][6]. - The domestic energy storage market saw a cumulative installed capacity of 23.03 GW/56.12 GWh in the first half of 2025, a year-on-year increase of 68% [6]. - The mainstream density for LFP materials is currently between 2.5-2.55 g/cm³, with ongoing technological iterations pushing for larger capacities and longer cycle lives [6]. Group 4: Strategic Moves by Companies - Leading LFP companies are accelerating their fourth-generation product layouts, with Fulin Precision's subsidiary signing a prepayment agreement with CATL to enhance high-pressure LFP supply [10][11]. - Hunan Youneng has introduced its fourth-generation LFP products, achieving batch supply after important customer certifications [11]. - Smaller firms are also making moves, with companies like Pengbo New Materials and Wanhua Chemical planning to invest in high-pressure LFP production projects [13].