According to Longpan Technology's announcement, LBM, the company's second-tier holding subsidiary, plans to sell 76% of its third-level holding subsidiary PT LBM shares to KINETIQ for 31.92 million US dollars. After the transaction is completed, the company holds a total of 24% of PT LBM's shares, and PT LBM will no longer be included in the scope of the company's consolidated statements. The purpose of this transaction is to enable PT LBM to be recognized as a non-prohibited foreign entity under the US “Greater and American Act” to guarantee supply in the North American market. The target company specializes in lithium iron phosphate cathode materials, with a design capacity of 90,000 tons per year. It is currently under construction.

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