Longpan Technology has announced that its second-tier subsidiary, Shandong Liyuan, plans to invest in and construct the "Shandong Liyuan LP-15 Project" in the Chemical Industry Park of Juancheng County, Shandong Province. The project is designed with an annual production capacity of 150,000 tons of battery-grade iron phosphate and represents a total investment of approximately 942 million yuan. This investment is intended to secure in-house supporting of iron phosphate raw materials, stabilize the supply chain, reduce procurement costs, and ensure the implementation of lithium iron phosphate cathode material production capacity. The funding will come from the proceeds of the 2021 non-public issuance of shares, Shandong Liyuan's own funds, bank loans, or self-raised funds. The matter has been deliberated and approved by the board of directors and is still subject to deliberation by the shareholders' meeting.