Longli Science and Technology: planned 800 million yuan new lithium iron phosphate cathode material project Ningde time plans to give 350 million yuan advance payment to Shandong Lithium Source

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Longyi Science and Technology announcement, in order to expand the existing lithium iron phosphate production capacity and further meet customer order demand, Changzhou Lithium Source, a subsidiary of the company, plans to invest about 800 million yuan to build a new "Lithium Iron Phosphate cathode material Project" in Juancheng. The project is built by Shandong Lithium Source, a wholly-owned subsidiary of Changzhou Lithium Source. Ningde Times has signed a "prepayment Agreement" with Shandong Lithium Source, which stipulates that Ningde Times will underwrite the full production capacity of Shandong Lithium Source new project from the date of commissioning (expected in July 2022) to December 31, 2023 (a total of about 75000 tons). Ningde Times can designate a third party to purchase lithium iron phosphate cathode materials from Shandong Lithium Source, and Shandong Lithium Source will supply the goods according to the order specified by Ningde Times or Ningde Times. In order to support the construction of the new construction project of Shandong Lithium Source, Ningde Times intends to give Shandong Lithium Source an advance of RMB 350 million for the construction capacity of Shandong Lithium Source. From the date of signing the Shandong Lithium Source production agreement to December 31, 2023, Shandong Lithium Source offers a discount of RMB 2150 per ton for the sale of lithium iron phosphate products to Ningde era.