According to Longpan Technology's announcement, LBM, a second-tier holding subsidiary of the company, plans to sell 76% of its shares in PT LBM to KINETIQ for a transaction price of US$31.92 million. The underlying asset is a factory under construction in Indonesia that produces 90,000 tons of lithium iron phosphate cathode materials per year. After the transaction was completed, the company held a total of 24% of PT LBM's shares, and PT LBM is no longer included in the scope of consolidated statements. After this transaction, financial support was passively formed. PT LBM still owes LBM 55 million US dollars in loan principal and promises to repay it before the end of 2026. The company also plans to change the use of LBM's remaining unused subscription funds and transfer them to the capital and operating expenses of the Phase III lithium iron phosphate plant in Indonesia. The above sale and financial support matters are still subject to review by the shareholders' meeting.

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