On November 24, Lopal Technology announced that its controlling subsidiary, Changzhou LBM New Energy Tech. Co., Ltd., and its controlling grandson company, Nanjing Liyuan Nano Technology Co., Ltd. (collectively referred to as the "Sellers"), jointly signed the "Second Supplemental Agreement" with the wholly-owned subsidiaries of Cornex New Energy, Wuhan Cornex, Xiaogan Cornex, and Yichang Cornex (collectively referred to as the "Buyers"), to supplement and amend the relevant terms of the original agreement.
The Original Agreement stipulated that between 2025 and 2030, the Sellers would collectively sell a total of 150,000 tonnes of lithium iron phosphate (LFP) cathode materials to the Buyers.
The Second Supplemental Agreement stipulates that between 2025 and 2030, the Sellers will collectively sell a total of 1.3 million tonnes of LFP cathode materials to the Buyers. If estimated based on the projected quantity and market prices, the total sales value under the Second Supplemental Agreement and the Original Agreement exceeds Yuan 45 billion (the final amount will be settled based on actual sales orders). The Second Supplemental Agreement will take effect on November 24, 2025.
Edited by Cassie Li, lixiangying@mysteel.com
