Longpan Technology (02465): Lithsource (Asia Pacific) intends to invest in the construction of the third phase of the Lithsource Indonesia project through Lithsource Indonesia (Batang).

Zhongtong Finance APP news, Longpan Technology (02465) announced that, in order to enhance the overall competitiveness of Jiangsu Longpan Technology Group Co., Ltd. (the Company), the Company's controlling subsidiary LBM NEW ENERGY (AP) PTE. LTD. (Lithium Source (Asia Pacific)) plans to invest in the construction of the Indonesian Lithium Source Phase III Project through its wholly-owned subsidiary PT LBM ENERGI BARU INDONESIA BATANG (Lithium Source Indonesia (Batang)). The Indonesian Lithium Source Phase III Project plans to construct 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, equivalent to approximately 1.088 billion RMB.