Longpan Technology to Acquire 100% Equity of Shandong Meiduo and Increase Capital

Longpan Technology: Plans to acquire 100% equity of Shandong Meiduo and increase its capital

On March 6, Longpan Technology announced that the company plans to acquire 100% equity of Shandong Meiduo Technology Co., Ltd. ("Shandong Meiduo") for 101 million yuan and increase its capital by 50 million yuan after the acquisition. Shandong Meiduo's main business is the recycling and cascaded utilization of waste and old power batteries for new energy vehicles. Through a series of processes such as disassembly, leaching, and refining, Shandong Meiduo ultimately obtains products such as battery-grade lithium carbonate, battery-grade nickel sulfate, battery-grade cobalt sulfate, and battery-grade manganese sulfate, which are widely used in the fields of lithium iron phosphate and ternary positive electrode materials, and have high synergy with the company's lithium battery business.