Longpan Technology (603906.SH) plans to invest approximately 1.088 billion yuan in its subsidiary to develop the Indonesia lithium source Phase III project.

Zhtng Cijng APP News, Longpan Technology (603906.SH) announced that the company's controlling subsidiary, Lithium Source (Asia-Pacific), plans to invest in the construction of the "New Energy Vehicle Power and Energy Storage Battery Cathode Material Scale Production Project" through its wholly-owned subsidiary Lithium Source Indonesia (Batang), referred to as the "Indonesia Lithium Source Phase III Project". The project plans to build a production line with an annual output of 120,000 tons of second and third generation lithium iron phosphate cathode materials, with a total investment of 160 million US dollars, approximately 1.088 billion RMB.