Longpan Technology: Ningde times has signed an advance payment agreement with its holding subsidiary Shandong lithium source

Financial Associated Press, December 17. Longpan technology announced that in order to expand the existing capacity of lithium iron phosphate and further meet customer order requirements, Changzhou lithium source, the holding subsidiary of the company, and juancheng County People's government signed the cooperation agreement on lithium iron phosphate cathode material project on December 17, 2021, and planned to invest about 800 million yuan to build a new "lithium iron phosphate cathode material project" in juancheng, The project is undertaken by Shandong Liyuan, a wholly-owned subsidiary of Changzhou Liyuan. Ningde times has signed an advance payment agreement with Shandong lithium source, which stipulates that Ningde times will underwrite all the production capacity of Shandong lithium source new project from the date of production (expected to be July 2022) to December 31, 2023 (about 75000 tons in total). Ningde times can designate a third party to purchase lithium iron phosphate cathode materials from Shandong lithium source, Shandong lithium source supplies according to the order of Ningde times or the third party designated by Ningde times. In order to support the construction of new projects of Shandong lithium source, Ningde times plans to give an advance payment of RMB 350 million to Shandong lithium source for the construction capacity of Shandong lithium source. From the date of signing the production agreement of Shandong lithium source to December 31, 2023, Shandong lithium source will give a discount of RMB 2150 per ton for the sales of lithium iron phosphate products to Ningde times.