Annual Production of 120,000 mt! Phase II of the LFP Cathode Material Production Site by Indonesia Lithium Source Commences Construction

Battery Network learned that recently, under the strategic background of deepening new energy industry cooperation between China and Indonesia, Lopal (603906) held a groundbreaking ceremony for the second phase of its 120,000 mt LFP cathode material production site in Semarang, Indonesia.

The news revealed that since its launch in 2021, the Lithium South project has attracted significant attention. The first phase, with a 30,000 mt LFP production line, was completed and put into operation in 2024, and achieved its first product shipment in January 2025, marking the first large-scale overseas production of Chinese LFP technology.

The annual report showed that Lopal's 2024 revenue was 7.673 billion yuan, down 12.10% YoY. The net loss attributable to shareholders of the publicly listed firm was 636 million yuan, with the loss narrowing. In the LFP cathode material business, Lopal produced 184,700 mt and sold 178,300 mt of LFP in 2024, generating revenue of 5.619 billion yuan.

Lopal stated that in 2024, its 40,000 mt LFP project in Yichun, Jiangxi, had reached the intended usable state. Meanwhile, the company actively promoted the early establishment and capacity release of overseas LFP factories, securing the demand of leading overseas customers for the next five years, which will help improve the company's profit level. The company will continue to accelerate its overseas business layout, expand its overseas market share, strengthen its global brand image, and further enhance its capital strength and comprehensive competitiveness.