On August 7, Longpan Technology announced that the company and LG New Energy (LGES) signed a three-year two-way supply framework agreement of 2026-2028: according to the agreement, during the period from January 1, 2026 to December 31, 2028, Longpan Technology will supply LGES with lithium iron phosphate materials, with an annual transaction cap of 9 billion yuan. Longpan Technology will purchase relevant products from LGES, with an annual ceiling of 6 billion yuan, totaling 18 billion yuan in three years. The two annual caps total 45 billion yuan.
The company disclosed that LGES holds a 20% stake in PT LBM, an indirect subsidiary of Longpan Indonesia, and is an important shareholder of the overseas factory.
Longpan Technologies also disclosed that from 2023 to 2025, the sales of the company and LGES were 36.9 million yuan, 194 million yuan and 1.432 billion yuan respectively, and the sales from the beginning of 2026 to this announcement were 1.682 billion yuan.
At the same time, Longpan Technology has purchased 177 million yuan from LGES since 2025, and 658 million yuan as of the announcement date in 2026.
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